USD/SGD may fall 30 - 42 pips

Our pivot point stands at 1.3490.

Our preference

Technical rebound towards 1.3490 before a new drop.

Alternative scenario

Above 1.3490, look for 1.3511 and 1.3524.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (1.3466) but below its 50 period moving average (1.3475).

Supports and resistances

1.3524 **

1.3511 *

1.3490 **

1.3482

1.3473 last

1.3443

1.3431 **

1.3418 *

1.3406 **

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