- USD/SGD is currently trading around 1.3446 marks.
- It made intraday high at 1.3449 and low at 1.3420 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1.3390 mark.
- A daily close above 1.3433 will test key resistances at 1.3482, 1.3532 and 1.3587 levels respectively.
- Alternatively, a consistent close below 1.3433 will drag the parity down towards key support at 1.3390/1.3350/1.3311/1.3255/1.3218 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Singapore Q1 GDP final yy increase to 4.4 % (forecast 4.3 %) vs previous 4.3 %.
- Singapore Q1 GDP final qq increase to 1.7 % (forecast 1.4 %) vs previous 1.4 %.
We prefer to take short position on USD/SGD around 1.3450, stop loss 1.3490 and target of 1.3390/1.3350.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invests