• FxWirePro: Singapore Dollar trades marginally lower in early Asia despite robust non-oil exports data

    Source: FxWire Pro - Technicals / 17 Jun 2018 22:10:00   America/New_York

    • USD/SGD is currently trading around 1.3510 marks.
    • It made intraday high at 1.3534 and low at 1.3510 levels.
    • Intraday bias remains neutral for the moment.
    • A daily close above 1.3511 will test key resistances at 1.3532, 1.3587 and 1.3624 levels respectively.
    • Alternatively, a consistent close below 1.3510 will drag the parity down towards key support at 1.3430/1.3390/1.3307/1.3255/1.3218/1.3120 levels respectively.
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
    • Singapore May Non-Oil domestic exports +10.3 pct m/m seasonally adjusted (poll +1.0 pct).
    • Singapore May Non-Oil domestic exports +15.5 pct y/y (poll +4.7 pct).

    We prefer to take long position on USD/SGD around 1.3510, stop loss 1.3470 and target of 1.3587.

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