USD/SGD may fall 30 - 44 pips

Our pivot point is at 1.3076.

Our preference

The downside prevails as long as 1.3076 is resistance.

Alternative scenario

Above 1.3076, look for 1.3099 and 1.3113.

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 1.3068 and 1.3059). Finally, the USD/SGD is trading below its lower Bollinger band (standing at 1.3053).

Supports and resistances

1.3113 **

1.3099 *

1.3076 **

1.3066

1.3052 last

1.3022

1.3008 **

1.2994 *

1.2979 **

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