- USD/SGD is currently trading around 1.3709 marks.
- It made intraday high at 1.3725 and low at 1.3709 levels.
- Intraday bias remains bearish for the moment.
- A daily close above 1.3719 will test key resistances at 1.3750, 1.3770, 1.3790, 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
- Alternatively, a consistent close below 1.3719 will drag the parity down towards key supports at 1.3690/1.3668/1.3620/1.3570/1.3510 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Singapore Q3 2018 unemployment rate final sa stays flat at 2.1 % vs previous 2.1 %.
We prefer to take short position on USD/SGD around 1.3715, stop loss at 1.3750 and target of 1.3668.