EUR/SGD may rise 2 - 3 pips

Our pivot point stands at 1.421.

Our preference

Rebound.

Alternative scenario

The downside breakout of 1.421 would call for 1.419 and 1.418.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (1.423) but below its 50 period moving average (1.424).

Supports and resistances

1.429 **

1.428 *

1.427 **

1.426

1.424 last

1.422

1.421 **

1.419 *

1.418 **

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