USD/SGD may rise 38 - 57 pips

Our pivot point is at 1.3056.

Our preference

As long as 1.3056 is support look for 1.3139.

Alternative scenario

The downside breakout of 1.3056 would call for 1.3024 and 1.3005.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3081 and 1.3071).

Supports and resistances

1.3177 **

1.3158 *

1.3139 **

1.3120

1.3082 last

1.3069

1.3056 **

1.3024 *

1.3005 **

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