USD/SGD may rise 29 - 43 pips

Our pivot point stands at 1.3136.

Our preference

The upside prevails as long as 1.3136 is support.

Alternative scenario

The downside breakout of 1.3136 would call for 1.3112 and 1.3098.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3154 and 1.3157).

Supports and resistances

1.3232 **

1.3218 *

1.3204 **

1.3190

1.3161 last

1.3145

1.3136 **

1.3112 *

1.3098 **

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