CHF/SGD may rise to 1.541 - 1.553

1.498 is our pivot point.

Our preference

The upside prevails as long as 1.498 is support.

Alternative scenario

The downside breakout of 1.498 would call for 1.477 and 1.465.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.508 and 1.505).

Supports and resistances

1.578 **

1.566 *

1.553 **

1.541

1.516 last

1.506

1.498 **

1.477 *

1.465 **

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