USD/SGD ST: technical rebound towards 1.258 before a new drop
26-May-11
05:06
Our pivot point is at 1.258.
Our preference: technical rebound towards 1.258 before a new drop.
Alternative scenario: the upside breakout of 1.258, would call for 1.27 and 1.277.
Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above its 20 MA (1.2385) but under its 50 MA (1.247).
Supports and resistances:
1.27 *
1.258 **
1.253
1.2432 last
1.228
1.221 **
1.213 *
Ticker: SGD
