FxWirePro: USD/SGD stabilizes above 1.3650 mark, Singapore’s industrial production data in focus
USD/SGD is currently trading around 1.3675 marks. It made intraday high at 1.3680 and low at 1.3670 levels. Intraday bias remains bullish till the time pair holds key support at 1.3640 mark. A daily close above 1.3673 wi…
It made intraday high at 1.3680 and low at 1.3670 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3640 mark.
A daily close above 1.3673 will test key resistances at 1.3680, 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
Alternatively, a consistent close below 1.3673 will drag the parity down towards key supports at 1.3640, 1.3590, 1.3550, 1.3512 and 1.3454 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Singapore will release industrial production data around 0500 GMT.
Singapore URA property index q/q at 1.5 pct vs -0.7 pct previous release.
Singapore unemployment rate at 2.2 pct vs 2.2 pct previous release.
We prefer to take long position on USD/SGD only above 1.3660, stop loss at 1.3640 and target of 1.3738/1.3760.
