USD/SGD may fall 31 - 44 pips

Our pivot point stands at 1.3576.

Our preference

The downside prevails as long as 1.3576 is resistance.

Alternative scenario

The upside breakout of 1.3576, would call for 1.3598 and 1.3611.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3576 and 1.3576).

Supports and resistances

1.3611 **

1.3598 *

1.3576 **

1.3567

1.3556 last

1.3525

1.3512 **

1.3499 *

1.3485 **

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