USD/SGD may rise 26 - 38 pips

Our pivot point stands at 1.3498.

Our preference

The upside prevails as long as 1.3498 is support.

Alternative scenario

The downside breakout of 1.3498 would call for 1.3477 and 1.3465.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3513 and 1.3508).

Supports and resistances

1.3576 **

1.3564 *

1.3552 **

1.3540

1.3514 last

1.3505

1.3498 **

1.3477 *

1.3465 **

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