- USD/SGD is currently trading around 1.3921 marks.
- It made intraday high at 1.3929 and low at 1.3902 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3805 marks.
- A sustained close above 1.39 will test key resistances at 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover) marks respectively.
- Alternatively, a consistent break below 1.38 will drag the parity down towards key supports at 1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Singapore’s September non-oil domestic exports -4.8 pct y/y (poll -6.0 pct).
- Singapore’s September non-oil domestic exports +2.4 pct m/m seasonally adjusted (poll +1.5 pct).
- Singapore’s September NODX to Europe +9.9 pct y/y vs -15.6 pct y/y in August.
- Singapore’s September NODX to china -2.2 pct y/y vs -5.4 pct y/y in August.
- Singapore’s September NODX to United States -7.2 pct y/y vs +4.8 pct y/y in August.
We prefer to go long on USD/SGD around 1.3910 with stop loss at 1.38 and target of 1.4073.
