USD/SGD may rise 29 - 43 pips

Our pivot point is at 1.2988.

Our preference

Rebound towards 1.3049.

Alternative scenario

The downside breakout of 1.2988 would call for 1.2964 and 1.2950.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3008 and 1.3047).

Supports and resistances

1.3077 **

1.3063 *

1.3049 **

1.3035

1.3006 last

1.2997

1.2988 **

1.2964 *

1.2950 **

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