CHF/SGD may rise to 1.566 - 1.583

1.502 is our pivot point.

Our preference

As long as 1.502 is support look for 1.583.

Alternative scenario

The downside breakout of 1.502 would call for 1.473 and 1.456.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (1.526) but above its 50 period moving average (1.515).

Supports and resistances

1.617 **

1.600 *

1.583 **

1.566

1.525 last

1.513

1.502 **

1.473 *

1.456 **

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