© Dukascopy Bank SA
Since early September, CHF/SGD has not touched the tunnel's limits, the pair has been swinging in relatively narrow range. Moreover, for a couple of weeks it seems that the pair is targeting the lower trend-line. The technical indicators are also pointing to the downside, strengthening the pair's bearish intentions. Last but not least the SWFX sentiment, around 70% of the traders believe that the pattern will be breached to the downside, thus the 1.33 level is a short-term target.
© Dukascopy Bank SA