USD/SGD may fall 36 - 54 pips

Our pivot point stands at 1.2927.

Our preference

The downside prevails as long as 1.2927 is resistance.

Alternative scenario

Above 1.2927, look for 1.2958 and 1.2975.

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 is trading under both its 20 and 50 period moving average (respectively at 1.2912 and 1.2912).

Supports and resistances

1.2975 **

1.2958 *

1.2927 **

1.2916

1.2897 last

1.2861

1.2843 **

1.2825 *

1.2807 **

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