CHF/SGD 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Swiss Franc Index was one of the top losers over the last month, erasing 0.53%. The currency logged loses versus the Singapore Dollar as well, and it seems that the depreciation will continue in the foreseeable future. Traders do not believe in the strength of the Swiss currency, as they are selling it in 72% of the time, while attitude towards the Singapore Dollar is almost the same. However, technical indicators on three different timeframes are suggesting the pair will continue moving lower, sending ‘sell' signals. A move below recent low and daily S1 at 1.3691 will put weekly S1 and daily S2 at 1.3670 on the map, while bulls should focus on a weekly PP at 1.3753.
© Dukascopy Bank SA
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