• FxWirePro: Singapore Dollar remains unchanged despite lower than expected non-oil exports data

    Source: FxWire Pro - Technicals / 16 Jul 2018 22:55:26   America/New_York

    • USD/SGD is currently trading around 1.3615 marks.
       
    • It made intraday high at 1.3634 and low at 1.3611 levels.
       
    • Intraday bias remains neutral till the time pair holds key support at 1.3608 mark.
       
    • A daily close above 1.3619 will test key resistances at 1.3690, 1.3745, 1.3788, 1.3854 and 1.3905 levels respectively.
       
    • Alternatively, a consistent close below 1.3619 will drag the parity down towards key support at 1.3608/1.3570/1.3530/1.3496/1.3430/1.3390 levels respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
       
    • Singapore June non-oil exports mm decrease to -10.8 % (forecast -8 %) vs previous 10.3 %.
       
    • Singapore June non-oil exports yy decrease to 1.1 % (forecast 7.6 %) vs previous 15.5 %.

    We prefer to take long position on USD/SGD around 1.3600, stop loss at 1.3568 and target of 1.3690.

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