USD/SGD may fall 24 - 36 pips

Our pivot point is at 1.3441.

Our preference

The downside prevails as long as 1.3441 is resistance.

Alternative scenario

The upside breakout of 1.3441, would call for 1.3461 and 1.3472.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3439 and 1.3436).

Supports and resistances

1.3472 **

1.3461 *

1.3441 **

1.3433

1.3423 last

1.3399

1.3387 **

1.3375 *

1.3364 **

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