EUR/SGD may rise to 1.483 - 1.492

Our pivot point is at 1.451.

Our preference

The upside prevails as long as 1.451 is support.

Alternative scenario

The downside breakout of 1.451 would call for 1.436 and 1.427.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.456 and 1.458). Finally, the EUR/SGD is trading above its upper Bollinger band (standing at 1.465).

Supports and resistances

1.510 **

1.501 *

1.492 **

1.483

1.465 last

1.457

1.451 **

1.436 *

1.427 **

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