USD/SGD may rise 33 - 49 pips

1.3003 is our pivot point.

Our preference

The upside prevails as long as 1.3003 is support.

Alternative scenario

The downside breakout of 1.3003 would call for 1.2976 and 1.2960.

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 1.3012 and 1.2999).

Supports and resistances

1.3105 **

1.3089 *

1.3073 **

1.3057

1.3024 last

1.3013

1.3003 **

1.2976 *

1.2960 **

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