FxWirePro: Singapore dollar weakens in early Asia as GDP data misses expectations

• USD/SGD is currently trading around 1.3654 marks.
   
• It made intraday high at 1.3654 and low at 1.3628 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3628 mark.
   
• A daily close above 1.3628 will test key resistances at 1.3672, 1.3720, 1.3770, 1.3790, 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
   
• Alternatively, a consistent close below 1.3672 will drag the parity down towards key supports at 1.3620/1.3570/1.3510 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Singapore Q4 2018 GDP flash qq decrease to 1.6 % vs previous 3 %.
   
• Singapore Q4 2018 GDP advance yy stays flat at 2.2 % vs previous 2.2 %.
   
• Singapore Q4 2018 URA property index advance decrease to -0.1 % vs previous 0.5 %.

We prefer to take long position on USD/SGD only above 1.3672, stop loss at 1.3620 and target of 1.3770.