USD/SGD may rise 26 - 39 pips

Our pivot point stands at 1.3440.

Our preference

As long as 1.3440 is support look for 1.3498.

Alternative scenario

The downside breakout of 1.3440 would call for 1.3420 and 1.3407.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3459 and 1.3452).

Supports and resistances

1.3522 **

1.3510 *

1.3498 **

1.3485

1.3459 last

1.3448

1.3440 **

1.3420 *

1.3407 **

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