USD/SGD may rise 26 - 38 pips

Our pivot point is at 1.3468.

Our preference

The upside prevails as long as 1.3468 is support.

Alternative scenario

The downside breakout of 1.3468 would call for 1.3447 and 1.3434.

Comment

The RSI is above its neutrality area at 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 1.3479 and 1.3470).

Supports and resistances

1.3550 **

1.3538 *

1.3525 **

1.3513

1.3487 last

1.3476

1.3468 **

1.3447 *

1.3434 **

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