USD/SGD may rise 29 - 42 pips

Our pivot point stands at 1.3540.

Our preference

Rebound towards 1.3601.

Alternative scenario

The downside breakout of 1.3540 would call for 1.3518 and 1.3505.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (1.3555) but under its 50 period moving average (1.3569).

Supports and resistances

1.3628 **

1.3614 *

1.3601 **

1.3588

1.3559 last

1.3549

1.3540 **

1.3518 *

1.3505 **

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