AUD/SGD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After opening with a 30 pips gap on Monday, October 13, AUD/SGD has formed a channel up. Since then the pair has been moving to the north and according to aggregate technical indicators, the trend will persist in the near– and medium– term outlook. Hence, bulls may face strong resistance around 1.1961– Fibonacci retracement and a weekly resistance, while next time bulls will experience difficulties is pattern's resistance at 1.1996. The outlook is bullish and the pair plenty of space for appreciation. In case the pair closes above 1.1961, it will have a room for a 40 pips long movement to the upside.
© Dukascopy Bank SA
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