AUD/SGD may rise 29 - 49 pips

Our pivot point stands at 0.8770.

Our preference

The upside prevails as long as 0.8770 is support.

Alternative scenario

The downside breakout of 0.8770 would call for 0.8740 and 0.8720.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8803 and 0.8804).

Supports and resistances

0.8890 **

0.8870 *

0.8860 **

0.8840

0.8811 last

0.8780

0.8770 **

0.8740 *

0.8720 **

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