USD/SGD may rise 28 - 42 pips

1.3130 is our pivot point.

Our preference

Look for a drop towards 1.3130 before a bounce.

Alternative scenario

The downside breakout of 1.3130 would call for 1.3107 and 1.3093.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3152 and 1.3151).

Supports and resistances

1.3225 **

1.3211 *

1.3197 **

1.3183

1.3155 last

1.3140

1.3130 **

1.3107 *

1.3093 **

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