AUD/SGD 1H Chart: Triangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Australian Dollar has been under-performing its Singapore peer since the beginning of the previous working week. Despite stabilising above 0.9980 for some time, the pair failed to sustain gains and eventually dropped below the triangle pattern's lower boundary. Therefore, the bearish scenario seems to become the main one now, meaning that the Aussie is likely to continue losing value in the long-term. While one-hour technical indicators project some possible upside changes, the four-hour ones are strongly negative at the moment and they are supported by daily studies as well. On the other hand, market sentiment is bullish (57%) with respect to this currency pair.

© Dukascopy Bank SA
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