USD/SGD may fall 24 - 36 pips

Our pivot point is at 1.3532.

Our preference

The downside prevails as long as 1.3532 is resistance.

Alternative scenario

The upside breakout of 1.3532, would call for 1.3552 and 1.3564.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3521 and 1.3526).

Supports and resistances

1.3564 **

1.3552 *

1.3532 **

1.3524

1.3513 last

1.3489

1.3477 **

1.3465 *

1.3453 **

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