USD/SGD may rise 27 - 39 pips

Our pivot point stands at 1.3512.

Our preference

Our next up target stands at 1.3572.

Alternative scenario

The downside breakout of 1.3512 would call for 1.3492 and 1.3480.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3529 and 1.3532).

Supports and resistances

1.3596 **

1.3584 *

1.3572 **

1.3560

1.3533 last

1.3520

1.3512 **

1.3492 *

1.3480 **

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