CHF/SGD – Currency exchange rate forecast 06.06.2019: the downside prevails as long as 1.375 is resistance

CHF/SGD - Currency exchange rate forecast 06.06.2019: the downside prevails as long as 1.375 is resistance

Alternative scenario: the upside breakout of 1.375 would call for 1.378 and 1.380.

Our pivot point is at 1.375.

Our preference: the downside prevails as long as 1.375 is resistance.

Alternative scenario: the upside breakout of 1.375, would call for 1.378 and 1.380.

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 pair is trading under both its 20 and 50 MAs (respectively at 1.373 and 1.375).

Supports and resistances:

1.380 **

1.378 *

1.375 **

1.374

1.372 last

1.368

1.366 **

1.364 *

1.363 **