USD/SGD may rise 38 - 57 pips

1.3019 is our pivot point.

Our preference

Rebound towards 1.3104.

Alternative scenario

The downside breakout of 1.3019 would call for 1.2987 and 1.2968.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3049 and 1.3053).

Supports and resistances

1.3142 **

1.3123 *

1.3104 **

1.3085

1.3047 last

1.3031

1.3019 **

1.2987 *

1.2968 **

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