USD/SGD may fall 28 - 41 pips

Our pivot point stands at 1.3261.

Our preference

As long as 1.3261 is resistance look for 1.3201.

Alternative scenario

The upside breakout of 1.3261, would call for 1.3283 and 1.3296.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading above its 20 period moving average (1.3242) but under its 50 period moving average (1.3243).

Supports and resistances

1.3296 **

1.3283 *

1.3261 **

1.3252

1.3242 last

1.3214

1.3201 **

1.3187 *

1.3174 **

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