USD/SGD may rise 37 - 54 pips

Our pivot point stands at 1.3106.

Our preference

The upside prevails as long as 1.3106 is support.

Alternative scenario

The downside breakout of 1.3106 would call for 1.3079 and 1.3062.

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 1.3114 and 1.3111).

Supports and resistances

1.3216 **

1.3199 *

1.3183 **

1.3166

1.3129 last

1.3117

1.3106 **

1.3079 *

1.3062 **

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