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

    Source: FxWire Pro - Technicals / 22 Oct 2018 21:59:31   America/New_York

    • USD/SGD is currently trading around 1.3803 marks.
    • It made intraday high at 1.3811 and low at 1.3797 levels.
    • Intraday bias remains slightly bullish till the time  pair holds key support at 1.3790 mark.
    • A daily close above 1.3798 will test key resistances at 1.3820, 1.3872, 1.3905 and 1.3948 levels respectively.
    • Alternatively, a consistent close below 1.3798 will drag the parity down towards key supports at 1.3738/1.3690/1.3654/1.3620/1.3570/1.3510/1.3450 levels respectively.
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish 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 1.3820, stop loss at 1.3790 and target of 1.3872.

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