USD/SGD may rise 34 - 50 pips

Our pivot point stands at 1.2984.

Our preference

Rebound towards 1.3060.

Alternative scenario

Below 1.2984, expect 1.2958 and 1.2942.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3014 and 1.3026).

Supports and resistances

1.3091 **

1.3076 *

1.3060 **

1.3044

1.3010 last

1.2995

1.2984 **

1.2958 *

1.2942 **

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