Technical Chart pick of the day: USDSGD – Bearish
· On a technical perspective, the trend is turning bearish, with prices below the 20 and 40.
· Prices failed to break above the 40 EMA and retraced. This indicates that selling pressure is present.
· Based on the pivot point analysis, prices are below the pivot level. This signifies bearishness.
Resistance: R1: 1.34751, R2: 1.34096, R3: 1.35140
Support: S1: 1.34517, S2: 1.34438, S3: 1.34204