EUR/SGD may rise 3 - 4 pips

Our pivot point stands at 1.423.

Our preference

The upside prevails as long as 1.423 is support.

Alternative scenario

The downside breakout of 1.423 would call for 1.421 and 1.420.

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 1.424 and 1.424).

Supports and resistances

1.431 **

1.430 *

1.429 **

1.428

1.425 last

1.424

1.423 **

1.421 *

1.420 **

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