USD/SGD may rise 26 - 38 pips

1.3411 is our pivot point.

Our preference

Our next up target stands at 1.3467.

Alternative scenario

The downside breakout of 1.3411 would call for 1.3390 and 1.3378.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3423 and 1.3428). Finally, the USD/SGD has crossed above its upper Bollinger band (1.3429).

Supports and resistances

1.3492 **

1.3479 *

1.3467 **

1.3455

1.3429 last

1.3419

1.3411 **

1.3390 *

1.3378 **

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