USD/SGD may fall 25 - 37 pips

Our pivot point stands at 1.3456.

Our preference

The downside prevails as long as 1.3456 is resistance.

Alternative scenario

The upside breakout of 1.3456, would call for 1.3477 and 1.3489.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3448 and 1.3445). Finally, the USD/SGD has penetrated its lower Bollinger band (1.3440).

Supports and resistances

1.3489 **

1.3477 *

1.3456 **

1.3448

1.3438 last

1.3413

1.3401 **

1.3389 *

1.3377 **

Number of asterisks represents the strength of support and resistance levels.