USD/SGD may fall 26 - 38 pips

1.3382 is our pivot point.

Our preference

The downside prevails as long as 1.3382 is resistance.

Alternative scenario

The upside breakout of 1.3382, would call for 1.3402 and 1.3414.

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 1.3366 and 1.3367).

Supports and resistances

1.3414 **

1.3402 *

1.3382 **

1.3374

1.3365 last

1.3339

1.3327 **

1.3315 *

1.3303 **

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