For a third time this year, the downtrend in the USD/SGD has been rejected. On the chart below we marked these 3 rejections with smaller rectangles. This rejection forces the pair back into its range. The general area of support is around 1.3300 to 1.3350. On the top side, the resistance is around 1.3800 to 1.3841.



This particular range has been unbroken since March of this year. But the USD/SGD has been trading undecided for over a year now. Let's take a look at this range on the weekly chart. Notice how we've been trading in this 1.3300-1.3800 area for most of the past 18 months. Since March of 2015 we haven't made any progress, up or down. This is why I'm forecasting 1.3618 for October 3rd.


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