| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The Australian Dollar has been depreciating against the Singapore Dollar since the beginning of September after the AUD/SGD currency pair reversed south from the upper boundary of the falling wedge pattern at 0.9490.
As apparent on the chart, the exchange rate has already reached the lower pattern line at the 0.9253 mark. From a theoretical point of view, it is likely that some upside potential could prevail in the market, as the rate should target the upper pattern line located in the 0.9400/0.9440 area.
However, note that this advance might not be immediate, as the currency pair would have to surpass the 100– and 200-period moving averages (4H time-frame chart) at 0.9380. If the given resistance holds, the Australian Dollar could continue to depreciate against the Singapore Dollar.