CHF/SGD may fall to 1.451 - 1.460

Our pivot point stands at 1.494.

Our preference

The downside prevails as long as 1.494 is resistance.

Alternative scenario

Above 1.494, look for 1.510 and 1.519.

Comment

The RSI is below 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 1.487 and 1.493).

Supports and resistances

1.519 **

1.510 *

1.494 **

1.488

1.480 last

1.460

1.451 **

1.441 *

1.432 **

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