CHF/SGD may rise 5 - 8 pips

Our pivot point stands at 1.532.

Our preference

The upside prevails as long as 1.532 is support.

Alternative scenario

Below 1.532, expect 1.527 and 1.525.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). 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 1.534 and 1.532). Finally, the CHF/SGD has crossed above its upper Bollinger band (1.536).

Supports and resistances

1.550 **

1.548 *

1.545 **

1.542

1.537 last

1.533

1.532 **

1.527 *

1.525 **

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