AUD/SGD may fall 49 - 59 pips

Our pivot point stands at 0.9020.

Our preference

The downside prevails as long as 0.9020 is resistance.

Alternative scenario

Above 0.9020, look for 0.9040 and 0.9050.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.9007 and 0.9017). Finally, the AUD/SGD has penetrated its lower Bollinger band (0.8999).

Supports and resistances

0.9050 **

0.9040 *

0.9020 **

0.9010

0.8999 last

0.8950

0.8940 **

0.8930 *

0.8920 **

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