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

    Source: FxWire Pro - Technicals / 22 Feb 2018 22:53:44   Eastern Standard Time

    • USD/SGD is currently trading around 1.3204 marks.
    • It made intraday high at 1.3207 and low at 1.3174 levels.
    • Intraday bias remains slightly bullish till the time pair holds key support at 1.3150 marks.
    • A daily close above 1.3192 will test key resistances at 1.3255, 1.3290, 1.3340, 1.3438 and 1.3532 levels respectively.
    • Alternatively, a consistent close below 1.3192 will drag the parity down towards key support at 1.3132/1.3090/1.3005/1.2855/1.2754 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, core CPI data at 0500 GMT.

    We prefer to take short position on USD/SGD only below 1.3150, stop loss at 1.3257 and target of 1.3090.

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