USD/SGD is currently trading around 1.3695 marks. It made intraday high at 1.3700 and low at 1.3693 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.3705 mark. A daily close above 1.3700…
It made intraday high at 1.3700 and low at 1.3693 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3705 mark.
A daily close above 1.3700 will test key resistances at 1.3788, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
Alternatively, a consistent close below 1.3700 will drag the parity down towards key supports at 1.3631/1.3554 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Singapore June non-oil domestic exports +8.2 pct from year earlier; poll +4.1.
Singapore June non-oil domestic exports -2.7 pct m/m after seasonal adjustment; poll -2.1.
We prefer to take short position in USD/SGD around 1.3700, stop loss at 1.3750 and target of 1.3631.
