USD/SGD may fall 29 - 43 pips

Our pivot point stands at 1.3240.

Our preference

Under pressure below 1.3240.

Alternative scenario

The upside breakout of 1.3240, would call for 1.3263 and 1.3278.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3226 and 1.3210). Finally, the USD/SGD has penetrated its lower Bollinger band (1.3212).

Supports and resistances

1.3278 **

1.3263 *

1.3240 **

1.3230

1.3208 last

1.3179

1.3165 **

1.3151 *

1.3137 **

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