USD/SGD may rise 25 - 37 pips

Our pivot point stands at 1.3484.

Our preference

Rebound.

Alternative scenario

The downside breakout of 1.3484 would call for 1.3464 and 1.3452.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (1.3499) but below its 50 period moving average (1.3507). Finally, the USD/SGD is trading above its upper Bollinger band (standing at 1.3506).

Supports and resistances

1.3567 **

1.3555 *

1.3543 **

1.3531

1.3506 last

1.3492

1.3484 **

1.3464 *

1.3452 **

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