USD/SGD may rise 26 - 38 pips

Our pivot point is at 1.3506.

Our preference

As long as 1.3506 is support look for 1.3562.

Alternative scenario

Below 1.3506, expect 1.3485 and 1.3473.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3515 and 1.3477).

Supports and resistances

1.3587 **

1.3575 *

1.3562 **

1.3550

1.3524 last

1.3515

1.3506 **

1.3485 *

1.3473 **

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