USD/SGD may fall 24 - 35 pips

Our pivot point stands at 1.3442.

Our preference

The downside prevails as long as 1.3442 is resistance.

Alternative scenario

Above 1.3442, look for 1.3460 and 1.3470.

Comment

The RSI is below 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 1.3433 and 1.3433).

Supports and resistances

1.3470 **

1.3460 *

1.3442 **

1.3435

1.3428 last

1.3404

1.3393 **

1.3382 *

1.3372 **

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