- USD/SGD is currently trading around 1.3703 marks.
- It made intraday high at 1.3714 and low at 1.3701 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1.3722 mark.
- A daily close above 1.3712 will test key resistances at 1.3760, 1.3838, 1.3854, 1.3896 and 1.3945 marks respectively.
- Alternatively, a consistent close below 1.3712 will drag the parity down towards key supports at 1.3622, 1.3599, 1.3570 and 1.3458 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 2019 non - oil exports yy decrease to -15.9 % (forecast -16.5 %) vs previous -10 % (revised from -10 %).
We prefer to take short position on USD/SGD only below 1.3699, stop loss at 1.3722 and target of 1.3622.