USD/SGD may fall 29 - 43 pips

1.3102 is our pivot point.

Our preference

The downside prevails as long as 1.3102 is resistance.

Alternative scenario

Above 1.3102, look for 1.3125 and 1.3140.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3087 and 1.3088).

Supports and resistances

1.3140 **

1.3125 *

1.3102 **

1.3092

1.3079 last

1.3050

1.3036 **

1.3022 *

1.3008 **

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