AUD/SGD 1H Chart: Short-term increase expected

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
 MACD(12;26;9) Buy Sell Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Sell Sell Neutral
 Alligator(13;8;5) Buy Sell Sell
 SAR(0.02;0.2) Buy Buy Sell
 Aggregate

The Australian Dollar has been appreciating gradually against the Singapore Dollar since the beginning of January when the pair reversed from the upper boundary of the falling wedge pattern at 0.9489.  

Given that the exchange rate is being supported by the 55-, 100– and 200-hour SMAs, it is expected that some bullish momentum prevails in the market I the nearest future. A possible upside target is the resistance level at the 0.9800 mark.  

If given resistance holds, it is likely that the rate reverses south and targets the psychological level at 0.9550.

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