- USD/SGD is currently trading around 1.3506 marks.
- It made intraday high at 1.3517 and low at 1.3499 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3450 mark.
- A daily close above 1.3504 will test key resistances at 1.3532, 1.3622, 1.3788, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
- Alternatively, a consistent close below 1.3504 will drag the parity down towards key supports at 1.3439/1.3346/1.3217/1.3164/1.3005 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- Singapore Q2 final unemployment rate 2.2 pct vs advance estimate of 2.2 pct.
- Singapore Q2 total employment -7,300.
We prefer to take long position in USD/SGD around 1.3500, stop loss 1.3450 and target of 1.3532/1.3585/1.3622.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
