Our pivot point stands at 1.3301.
Our preference: the upside prevails as long as 1.3301 is support.
Alternative scenario: below 1.3301, expect 1.3271 and 1.3254.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3305 and 1.3291). Finally, the USD/SGD is trading above its upper Bollinger band (standing at 1.3327).
Supports and resistances:
1.3417 **
1.3399 *
1.3382 **
1.3364
1.3329 last
1.3312
1.3301 **
1.3271 *
1.3254 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 04-03-2023 at 01:15 UTC+1
Price reference: 1.3329 last known on 04-03-2023 at 01:15 UTC+1
Investment horizon: INTRADAY