USD/SGD may rise to 1.3704 - 1.3787

Our pivot point is at 1.3410.

Our preference

Rebound.

Alternative scenario

The downside breakout of 1.3410 would call for 1.3270 and 1.3187.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (1.3486) but below its 50 period moving average (1.3529).

Supports and resistances

1.3954 **

1.3870 *

1.3787 **

1.3704

1.3527 last

1.3465

1.3410 **

1.3270 *

1.3187 **

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