USD/SGD may rise 39 - 58 pips

Our pivot point is at 1.3064.

Our preference

The upside prevails as long as 1.3064 is support.

Alternative scenario

The downside breakout of 1.3064 would call for 1.3032 and 1.3013.

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 1.3082 and 1.3075). Finally, the USD/SGD has crossed above its upper Bollinger band (1.3093).

Supports and resistances

1.3193 **

1.3174 *

1.3155 **

1.3136

1.3097 last

1.3077

1.3064 **

1.3032 *

1.3013 **

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