AUD/SGD intraday: technical rebound towards 0.8420 before a new drop

Our pivot point stands at 0.8420.

Our preference: technical rebound towards 0.8420 before a new drop.

Alternative scenario: the upside breakout of 0.8420, would call for 0.8470 and 0.8500.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (0.8365) but below its 50 period moving average (0.8377).

Supports and resistances:

0.8500 **

0.8470 *

0.8420 **

0.8400

0.8375 last

0.8290

0.8260 **