USD/SGD may rise 35 - 52 pips

1.3120 is our pivot point.

Our preference

The upside prevails as long as 1.3120 is support.

Alternative scenario

The downside breakout of 1.3120 would call for 1.3092 and 1.3076.

Comment

The RSI is above its neutrality area at 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 1.3139 and 1.3134).

Supports and resistances

1.3230 **

1.3213 *

1.3197 **

1.3180

1.3145 last

1.3131

1.3120 **

1.3092 *

1.3076 **

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