CHF/SGD may fall 5 - 7 pips

1.523 is our pivot point.

Our preference

The downside prevails as long as 1.523 is resistance.

Alternative scenario

Above 1.523, look for 1.526 and 1.528.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.524 and 1.525). Finally, the CHF/SGD is trading below its lower Bollinger band (standing at 1.521).

Supports and resistances

1.528 **

1.526 *

1.523 **

1.522

1.521 last

1.516

1.514 **

1.513 *

1.511 **

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