USD/SGD may rise 42 - 61 pips

Our pivot point stands at 1.3011.

Our preference

Rise to 1.3099.

Alternative scenario

Below 1.3011, expect 1.2979 and 1.2960.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3037 and 1.3037).

Supports and resistances

1.3137 **

1.3118 *

1.3099 **

1.3080

1.3038 last

1.3023

1.3011 **

1.2979 *

1.2960 **

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