USD/SGD may rise 40 - 58 pips

Our pivot point stands at 1.2912.

Our preference

Our next up target stands at 1.2999.

Alternative scenario

Below 1.2912, expect 1.2882 and 1.2864.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2925 and 1.2940).

Supports and resistances

1.3035 **

1.3017 *

1.2999 **

1.2981

1.2941 last

1.2924

1.2912 **

1.2882 *

1.2864 **

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