USD/SGD may fall 24 - 36 pips

Our pivot point is at 1.3234.

Our preference

The downside prevails as long as 1.3234 is resistance.

Alternative scenario

Above 1.3234, look for 1.3254 and 1.3266.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3228 and 1.3255).

Supports and resistances

1.3266 **

1.3254 *

1.3234 **

1.3227

1.3205 last

1.3181

1.3169 **

1.3157 *

1.3146 **

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