7645449 7/13/2017 12:18 PM, AUD/SGD intraday: above its upper Bollinger band


1.0570 is our pivot point.


Our preference

: the upside prevails as long as 1.0570 is support.


Alternative scenario

: the downside breakout of 1.0570 would call for 1.0550 and 1.0540.


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 pair is above its 20 and 50 MAs (respectively at 1.0583 and 1.0575). Finally, the AUD/SGD has crossed above its upper Bollinger band (1.0595).


Supports and resistances

:

1.0670 **

1.0650 *

1.0640 **

1.0630

1.0596 last

1.0580

1.0570 **

1.0550 *

1.0540 **