USD/SGD may rise 41 - 55 pips

1.2944 is our pivot point.

Our preference

The upside prevails as long as 1.2944 is support.

Alternative scenario

The downside breakout of 1.2944 would call for 1.2919 and 1.2904.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.2953 and 1.2945).

Supports and resistances

1.3049 **

1.3034 *

1.3019 **

1.3005

1.2964 last

1.2953

1.2944 **

1.2919 *

1.2904 **

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