USD/SGD remains in a downtrend from 1.2806, January 23, 2014 high, and it extended its fall to 1.2560. The pair has been making good support at the level of 1.2560. Currently, the pair is trading in a range of 1.2560-1.2685. Further move will possible only on a breakout to either side. In the daily chart RSI favours to long side, whereas in the hourly chart RSI favours to short one. It means the pair will come down to the support levels before further up move. Major weakness is only below 1.2560 towards the level of 1.2520 and 1.2447. The pair is facing resistance at the levels of 1.2670-1.2683. If the pair breaks out of the range on the upside, it may further move towards 1.2765 and 1.2806.
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