USD/SGD may fall 51 - 69 pips

Our pivot point stands at 1.2976.

Our preference

The downside prevails as long as 1.2976 is resistance.

Alternative scenario

The upside breakout of 1.2976, would call for 1.3006 and 1.3024.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands above its 20 period moving average (1.2934) but below its 50 period moving average (1.2944).

Supports and resistances

1.3024 **

1.3006 *

1.2976 **

1.2964

1.2935 last

1.2884

1.2866 **

1.2848 *

1.2830 **

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