EUR/SGD may fall to 1.426 - 1.435

Our pivot point stands at 1.467.

Our preference

The downside prevails as long as 1.467 is resistance.

Alternative scenario

The upside breakout of 1.467, would call for 1.482 and 1.490.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.459 and 1.459).

Supports and resistances

1.490 **

1.482 *

1.467 **

1.461

1.455 last

1.435

1.426 **

1.417 *

1.409 **

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