EUR/SGD may fall 3 - 4 pips

Our pivot point stands at 1.450.

Our preference

The downside prevails as long as 1.450 is resistance.

Alternative scenario

Above 1.450, look for 1.452 and 1.453.

Comment

The RSI is below 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 1.450 and 1.450). Finally, the EUR/SGD is trading below its lower Bollinger band (standing at 1.449).

Supports and resistances

1.453 **

1.452 *

1.450 **

1.450

1.449 last

1.446

1.445 **

1.444 *

1.443 **

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