USD/SGD intraday: the downside prevails as long as 1.3478 is resistance

Our pivot point stands at 1.3478.

Our preference: the downside prevails as long as 1.3478 is resistance.

Alternative scenario: the upside breakout of 1.3478, would call for 1.3506 and 1.3523.

Comment: the RSI is below its neutrality area at 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 1.3454 and 1.3461).

Supports and resistances:

1.3523 **

1.3506 *

1.3478 **

1.3467

1.3451 last

1.3406

1.3389 **

1.3372 *

1.3355 **

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 03-06-2023 at 00:19 UTC+1

Price reference: 1.3451 last known on 03-06-2023 at 00:19 UTC+1

Investment horizon: INTRADAY