CHF/SGD may rise 6 - 9 pips

Our pivot point is at 1.542.

Our preference

As long as 1.542 is support look for 1.555.

Alternative scenario

The downside breakout of 1.542 would call for 1.537 and 1.535.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.546 and 1.544).

Supports and resistances

1.560 **

1.558 *

1.555 **

1.552

1.546 last

1.544

1.542 **

1.537 *

1.535 **

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