AUD/SGD 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Aussie has been appreciating versus the Singapore Dollar since late January. What is more important, it the fact each new high was higher than the previous one. Moreover, the pair managed to penetrate pattern's resistance this week, and even though the pair moved back into pattern's boundaries, the outlook is bullish. This idea is supported by technicals on a 4H chart, as well as 71% of Dukascopy traders, who are holding long positions on the pair. From the downside the pair is supported by a previous high and a daily pivot around 1.1542/28, while a move above pattern's resistance and daily R1 will put 1.1601 on the map.
© Dukascopy Bank SA
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