USD/SGD may rise 35 - 52 pips

Our pivot point stands at 1.2964.

Our preference

Rebound towards 1.3038.

Alternative scenario

Below 1.2964, expect 1.2936 and 1.2920.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.2989 and 1.3013).

Supports and resistances

1.3071 **

1.3054 *

1.3038 **

1.3021

1.2986 last

1.2975

1.2964 **

1.2936 *

1.2920 **

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