CHF/SGD may rise 5 - 7 pips

Our pivot point is at 1.499.

Our preference

As long as 1.499 is support look for 1.509.

Alternative scenario

The downside breakout of 1.499 would call for 1.496 and 1.494.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.502 and 1.502).

Supports and resistances

1.513 **

1.511 *

1.509 **

1.507

1.502 last

1.500

1.499 **

1.496 *

1.494 **

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