FxWirePro: Singapore Dollar Falls ahead of CPI Data, Intraday Bias Remains Bullish

FxWirePro: Singapore Dollar Falls ahead of CPI Data, Intraday Bias Remains Bullish

25 April 2016, 05:25
Roberto Jacobs
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FxWirePro: Singapore Dollar Falls ahead of CPI Data, Intraday Bias Remains Bullish

  • USD/SGD is currently trading around 1.3546 marks. 
  • It made intraday high at 1.3559 and low at 1.3538 levels. 
  • Intraday bias remains bullish till the time pair holds initial support at 1.3489 levels. 
  • A sustained close above 1.3552 tests key resistances at 1.3628/1.3772/ 1.3817/ 1.3842 marks respectively. 
  • A daily close below 1.3489 will drag the parity down towards 1.3423/1.3352/1.3318/1.3302 levels. 
  • Singapore will release CPI data as well as core CPI at 0500 GMT.

We prefer to take long position in USD/SGD only above 1.3570, stop loss 1.3489 and target 1.3628/1.3772 levels.

The material has been provided by InstaForex Company - www.instaforex.com



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