USD/SGD may rise 25 - 36 pips

Our pivot point stands at 1.3153.

Our preference

Rebound towards 1.3205.

Alternative scenario

Below 1.3153, expect 1.3134 and 1.3123.

Comment

The RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3182 and 1.3212).

Supports and resistances

1.3227 **

1.3216 *

1.3205 **

1.3194

1.3169 last

1.3160

1.3153 **

1.3134 *

1.3123 **

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