USD/SGD intraday: the downside prevails as long as 1.2909 is resistance

Our pivot point stands at 1.2909.

Our preference: the downside prevails as long as 1.2909 is resistance.

Alternative scenario: above 1.2909, look for 1.2947 and 1.2970.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.2877 and 1.2876).

Supports and resistances:

1.2970 **

1.2947 *

1.2909 **

1.2894

1.2874 last

1.2827

1.2805 **