• FxWirePro: Singapore Dollar trades marginally higher ahead of CPI, core CPI data

    Source: FxWire Pro - Technicals / 22 Mar 2018 22:44:42   Eastern Standard Time

    • USD/SGD is currently trading around 1.3149 marks.
    • It made intraday high at 1.3173 and low at 1.3145 levels.
    • Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3192 marks.
    • A daily close above 1.3192 will test key resistances at 1.3232, 1.3285, 1.3340, 1.3438 and 1.3532 levels respectively.
    • Alternatively, a consistent close below 1.3124 will drag the parity down towards key support at 1.3082/1.3057/1.3005/1.2855/1.2754 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 CPI as well as core CPI data at 0500 GMT.

    We prefer to take long position on USD/SGD only above 1.3192, stop loss at 1.3124 and target of 1.3285/1.3340.

    FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest