CHF/SGD 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
During the last 8 days we were observing an appreciation of the Swiss Franc versus the Singapore currency. Even though the pair has been retesting the support line at the moment of writing, aggregate technical indicators are sending "buy" signals at 1H and 4H charts, suggesting the pair will bounce back from current level. However, in a longer term the pair try to penetrate the lower trend line once again, as indicators on 1D chart are pointing at opposite direction– to the south. In case of a downside breakout, lower prices and increased volume can be anticipated.
© Dukascopy Bank SA
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