USD/SGD may rise 33 - 49 pips

1.3145 is our pivot point.

Our preference

As long as 1.3145 is support look for 1.3216.

Alternative scenario

The downside breakout of 1.3145 would call for 1.3117 and 1.3100.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3159 and 1.3133).

Supports and resistances

1.3250 **

1.3233 *

1.3216 **

1.3200

1.3167 last

1.3156

1.3145 **

1.3117 *

1.3100 **

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