| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Neutral |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The US Dollar has been depreciating against the Singapore Dollar since the end of May after the currency pair reversed south from the resistance level—the Fibonacci 50.00% retracement at 1.3803.
Currently, the exchange rate is testing the lower boundary of the long-term ascending channel at 1.3520. From a theoretical point of view, it is expected, that a reversal north could occur in the nearest future. A possible upside target is the given resistance.
However, note, that the pair is pressured by the 55-, 100– and 200-hour SMAs. Thus, if the given channel does not hold, it is likely, that the rate could maintain its decline. In this case, the pair could reach the Fibonacci 23.60% retracement at 1.3414 within the following sessions.