USD/SGD may fall 27 - 39 pips

Our pivot point is at 1.3393.

Our preference

The downside prevails as long as 1.3393 is resistance.

Alternative scenario

Above 1.3393, look for 1.3413 and 1.3424.

Comment

The RSI is below its neutrality area at 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 1.3386 and 1.3408).

Supports and resistances

1.3424 **

1.3413 *

1.3393 **

1.3385

1.3372 last

1.3345

1.3333 **

1.3322 *

1.3310 **

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