| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇗ |
The US Dollar has been appreciating against the Singapore Dollar since the middle of March when the USD/SGD exchange rate reversed north from the lower boundary of the long-term ascending channel at 1.3472.
As apparent on the chart, the rate has already reached the resistance level formed by the Fibonacci 50.00% retracement at 1.3803. If the given resistance does not hold, it is likely, that the currency pair could continue to extend gains. A possible upside target is the upper channel line located circa 1.4000.
Otherwise, it is expected, that some downside potential could prevail in the market in the short run, and the pair could decline to the Fibonacci 38.20% retracement at 1.3629.