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

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

The CHF/SGD currency pair reversed north from the lower boundary of the falling wedge pattern located circa 1.3425 at the beginning of March.  

As apparent on the chart, the pair has already reached the psychological level at 1.3640. From a theoretical perspective, it is expected that the exchange rate reaches the upper pattern line located in the 1.3650/1.3680 range. If the given pattern holds, a reversal south occurs within the following sessions. 

Otherwise, it is likely that a breakout north from the pattern occurs soon. A possible upside target is the Fibonacci 50.00% retracement at 1.3784.

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