| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The Swiss Franc has been appreciating against the Singapore Dollar since the end of April. This movement has been bounded in the ascending channel.
Currently, the CHF/SGD exchange rate is testing the resistance level formed by the Fibonacci 61.805 retracement and the monthly R1 at 1.3899. If the given resistance does not hold, it is likely, that the rate could reach the upper channel line located circa 1.4050 and reverse south. The general direction is expected to remain north.
However, if the given resistance holds, it is expected, that a reversal south could occur within the following trading sessions. In this case, the currency pair could re-test the lower channel boundary located in the 1.3750/1.3800 range. If the given channel does not hold, a breakout south might occur. Note, that the pair could be supported by the Fibo 38.20% at 1.3672.