CHF/SGD may fall 4 - 6 pips

Our pivot point stands at 1.530.

Our preference

Under pressure below 1.530.

Alternative scenario

The upside breakout of 1.530, would call for 1.533 and 1.535.

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 stands below its 20 and 50 period moving average (respectively at 1.528 and 1.527).

Supports and resistances

1.535 **

1.533 *

1.530 **

1.528

1.527 last

1.523

1.521 **

1.519 *

1.517 **

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