CHF/SGD may rise 6 - 8 pips

Our pivot point stands at 1.515.

Our preference

The upside prevails as long as 1.515 is support.

Alternative scenario

Below 1.515, expect 1.511 and 1.509.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.516 and 1.516). Finally, the CHF/SGD has crossed above its upper Bollinger band (1.518).

Supports and resistances

1.532 **

1.530 *

1.527 **

1.525

1.519 last

1.517

1.515 **

1.511 *

1.509 **

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