USD/SGD may rise 39 - 58 pips

Our pivot point is at 1.3023.

Our preference

Rebound towards 1.3109.

Alternative scenario

The downside breakout of 1.3023 would call for 1.2991 and 1.2972.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3055 and 1.3064).

Supports and resistances

1.3147 **

1.3128 *

1.3109 **

1.3090

1.3051 last

1.3036

1.3023 **

1.2991 *

1.2972 **

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