CHF/SGD may rise 6 - 9 pips

Our pivot point stands at 1.535.

Our preference

The upside prevails as long as 1.535 is support.

Alternative scenario

The downside breakout of 1.535 would call for 1.531 and 1.528.

Comment

The RSI is above 50. 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 1.539 and 1.539).

Supports and resistances

1.554 **

1.551 *

1.549 **

1.546

1.540 last

1.537

1.535 **

1.531 *

1.528 **

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