USD/SGD may rise 38 - 56 pips

Our pivot point is at 1.2940.

Our preference

The upside prevails as long as 1.2940 is support.

Alternative scenario

Below 1.2940, expect 1.2910 and 1.2892.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2947 and 1.2949).

Supports and resistances

1.3057 **

1.3039 *

1.3021 **

1.3003

1.2965 last

1.2952

1.2940 **

1.2910 *

1.2892 **

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