USD/SGD may fall 39 - 57 pips

1.2958 is our pivot point.

Our preference

The downside prevails as long as 1.2958 is resistance.

Alternative scenario

Above 1.2958, look for 1.2988 and 1.3006.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.2942 and 1.2950).

Supports and resistances

1.3006 **

1.2988 *

1.2958 **

1.2946

1.2934 last

1.2895

1.2877 **

1.2859 *

1.2841 **

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