AUD/SGD may rise 28 - 48 pips

Our pivot point stands at 0.8770.

Our preference

The upside prevails as long as 0.8770 is support.

Alternative scenario

The downside breakout of 0.8770 would call for 0.8750 and 0.8730.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8807 and 0.8800).

Supports and resistances

0.8890 **

0.8870 *

0.8860 **

0.8840

0.8812 last

0.8780

0.8770 **

0.8750 *

0.8730 **

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