CHF/SGD may fall 6 - 9 pips

Our pivot point is at 1.540.

Our preference

As long as 1.540 is resistance look for 1.528.

Alternative scenario

Above 1.540, look for 1.545 and 1.547.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.537 and 1.537).

Supports and resistances

1.547 **

1.545 *

1.540 **

1.539

1.537 last

1.531

1.528 **

1.526 *

1.523 **

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