USD/SGD may fall 28 - 42 pips

Our pivot point stands at 1.3209.

Our preference

The downside prevails as long as 1.3209 is resistance.

Alternative scenario

Above 1.3209, look for 1.3232 and 1.3246.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3194 and 1.3205).

Supports and resistances

1.3246 **

1.3232 *

1.3209 **

1.3199

1.3185 last

1.3157

1.3143 **

1.3129 *

1.3115 **

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