The AUD/SGD currency pair found itself in a rather tricky situation, being that it has two patterns present simultaneously — the descending channel and the descending triangle. The channel is the main one, as it first emerged more than two months ago, while the triangle only in the beginning of May. Moreover, the triangle is nearing its apex, which usually implies a bearish breakout. This also supports the overall situation, as that would prolong the channel, just as technical indicators in all timeframes suggest. The break of the triangle's support is unlikely to last for long, as the exchange rate would then reach the channel's lower boundary, where the Australian Dollar would have the opportunity to post a recovery. Meanwhile, the Aussie is also overbought, as 71% of all open positions are currently long.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 1.0520/29 | Monthly PP; weekly R1; 200-period SMA | MACD (12; 26; 9) | Sell | Sell | Sell | ||
| R3 | 1.0454/73 | 100-period SMA; down-trend | RSI (14) | Neutral | Neutral | Neutral | ||
| R2 | 1.0418/31 | 55-period SMA; Bollinger band; weekly PP | Stochastic (5; 3; 3) | Sell | Sell | Sell | ||
| R1 | 1.0386/95 | 20-period SMA; triangle resistance line | ADX (14) | Neutral | Sell | Neutral | ||
| S1 | 1.0352/51 | Monthly S1; Bollinger band | CCI (14) | Neutral | Neutral | Buy | ||
| S2 | 1.0332/26 | Triangle support line; weekly S1 | AROON (14) | Buy | Buy | Buy | ||
| S3 | 1.0296 | Trend-line | Alligator (13; 8; 5) | Sell | Sell | Sell | ||
| S4 | 1.0231/28 | Monthly and weekly S2s | SAR (0.02; 0.2) | Sell | Sell | Sell | ||
| Aggregate | ↘ | ↘ | ↘ |