AUD/SGD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 1H 4H 1D
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3) Neutral Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The Australian Dollar is trading in an ascending channel against its Singaporean counterpart. Currently, the given exchange rate has entered a consolidation period, fluctuating between 1.0919 and 1.0671. As apparent on the chart, the last wave up failed to reach the upper boundary of the channel, suggesting that some change in trader sentiment may be due. Thus, it is expected that the Aussie does not return in the 1.1000/1.1100 area, but breaches the above channel up to the downside in the upcoming trading days. Nevertheless, this line is supported by the 55-, 100– and 200-hour SMAs circa 1.0820 that may hinder or even halt the pair from trading lower. A penetration of this area may add fuel to the increasingly bearish sentiment.

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