USD/SGD intraday: the downside prevails as long as 1.2745 is resistance

Our pivot point is at 1.2745.

Our preference: the downside prevails as long as 1.2745 is resistance.

Alternative scenario: the upside breakout of 1.2745, would call for 1.2782 and 1.2805.

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 1.2728 and 1.2739).

Supports and resistances:

1.2805 **

1.2782 *

1.2745 **

1.2730

1.2715 last

1.2664

1.2642 **