EUR/SGD may fall to 1.422 - 1.429

1.458 is our pivot point.

Our preference

The downside prevails as long as 1.458 is resistance.

Alternative scenario

The upside breakout of 1.458, would call for 1.470 and 1.478.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.453 and 1.455).

Supports and resistances

1.478 **

1.470 *

1.458 **

1.453

1.445 last

1.429

1.422 **

1.415 *

1.407 **

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