AUD/SGD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The second part of October signalized the beginning of AUD/SGD the downside move that has led to a formation of the channel down pattern, within which the pair has continued to depreciate. Recently, AUD/SGD managed to recover some its losses as heavy selling pressure abated after a dive to a four-month low. Now the currency couple's moves are blocked not only by the pattern's boundaries but also by its 200- and 50-hour SMAs, with the long-term SMA acting as a formidable resistance and the short-term SMA representing a strong support.
© Dukascopy Bank SA
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