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FxWirePro: USD/SGD stabilizes above 1.3650 mark, Singapore’s industrial production data in focus

  • USD/SGD is currently trading around 1.3675 marks.
     
  • It made intraday high at 1.3680 and low at 1.3670 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1.3640 mark.
     
  • A daily close above 1.3673 will test key resistances at 1.3680, 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
     
  • Alternatively, a consistent close below 1.3673 will drag the parity down towards key supports at 1.3640, 1.3590, 1.3550, 1.3512 and 1.3454 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • Singapore will release industrial production data around 0500 GMT.
     
  • Singapore URA property index q/q at 1.5 pct vs -0.7 pct previous release.
     
  • Singapore unemployment rate at 2.2 pct vs 2.2 pct previous release.

We prefer to take long position on USD/SGD only above 1.3660, stop loss at 1.3640 and target of 1.3738/1.3760.

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