• FxWirePro: Singapore Dollar trades marginally lower despite higher than expected non-oil exports data

    Source: FxWire Pro - Technicals / 17 Dec 2017 22:13:08   Eastern Standard Time

    • USD/SGD is currently trading around 1.3490 marks.
    • It made intraday high at 1.3497 and low at 1.3486 levels.
    • Intraday bias remains neutral till the time pair holds key support at 1.3486 mark.
    • A daily close above 1.3486 will test key resistances at 1.3532, 1.3580, 1.3602, 1.3652, 1.3715, 1.3768, 1.3822 and 1.3949 levels respectively.
    • Alternatively, a consistent close below 1.3486 will drag the parity down towards key support at 1.3432/1.3396/1.3346/1.3217/1.3164/1.3005 levels respectively.
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
    • Singapore November non-oil domestic exports +9.1 pct y/y (poll +5.5 pct).
    • Singapore November non-oil domestic exports +8.7 pct m/m seasonally adjusted (poll +0.6 pct).

    We prefer to take short position in USD/SGD only below 1.3486, stop loss 1.3532 and target of 1.3396.

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