USD/SGD may rise 32 - 47 pips

Our pivot point is at 1.3461.

Our preference

The upside prevails as long as 1.3461 is support.

Alternative scenario

The downside breakout of 1.3461 would call for 1.3436 and 1.3421.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3473 and 1.3471).

Supports and resistances

1.3560 **

1.3545 *

1.3530 **

1.3515

1.3483 last

1.3471

1.3461 **

1.3436 *

1.3421 **

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