EUR/SGD may fall 2 - 2 pips

Our pivot point is at 1.467.

Our preference

Under pressure below 1.467.

Alternative scenario

Above 1.467, look for 1.468 and 1.469.

Comment

The RSI is below 50. The MACD is below its signal line and positive. 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 1.466 and 1.466). Finally, the EUR/SGD is trading below its lower Bollinger band (standing at 1.465).

Supports and resistances

1.469 **

1.468 *

1.467 **

1.467

1.465 last

1.463

1.463 **

1.462 *

1.461 **

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