USD/SGD may fall 35 - 51 pips

Our pivot point stands at 1.3132.

Our preference

Under pressure below 1.3132.

Alternative scenario

Above 1.3132, look for 1.3160 and 1.3176.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3128 and 1.3107). Finally, the USD/SGD has penetrated its lower Bollinger band (1.3109).

Supports and resistances

1.3176 **

1.3160 *

1.3132 **

1.3121

1.3107 last

1.3072

1.3056 **

1.3039 *

1.3023 **

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