USD/SGD intraday: below its lower Bollinger band

Our pivot point is at 1.2893.

Our preference: the downside prevails as long as 1.2893 is resistance.

Alternative scenario: above 1.2893, look for 1.2931 and 1.2954.

Comment: the RSI is below 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 1.2878 and 1.2871). Finally, the USD/SGD is trading below its lower Bollinger band (standing at 1.2856).

Supports and resistances:

1.2954 **

1.2931 *

1.2893 **

1.2878

1.2854 last

1.2803

1.2780 **