The American Dollar is trading against the Singapore Dollar simultaneously in the two descending channels. The junior channel represents the reflection of the currency rate from upper edge of the senior channel in the first half of May. At the current moment, the pair is gradually moving downwards to test the support provided by the monthly S2 at 1.3814 and 38.20% Fibonacci retracement level at 1.3809. The Fibonacci retracement levels for this pair are measured by connecting the 2016 low level with the 2016 high level. Due to the strong pressure, there is a high probability that the rate will break though the junior channel in the upward direction before reaching the bottom trend line of the dominant channel.
| Level | Rationale | Indicator | 1H | 4H | 1D | |||
| R4 | 1.3944 | 50.00% Fibo | MACD (12; 26; 9) | Sell | Sell | Sell | ||
| R3 | 1.3919/21 | Weekly PP; 100-period SMA | RSI (14) | Sell | Buy | Sell | ||
| R2 | 1.3901 | 55-period SMA | Stochastic (5; 3; 3) | Neutral | Neutral | Neutral | ||
| R1 | 1.3895 | Trend line; Monthly S1 | ADX (14) | Sell | Neutral | Sell | ||
| S1 | 1.3866 | 20-period SMA | CCI (14) | Sell | Neutral | Sell | ||
| S2 | 1.3849 | Bottom Bollinger Band | AROON (14) | Neutral | Neutral | Neutral | ||
| S3 | 1.3822 | Trend line | Alligator (13; 8; 5) | Buy | Buy | Buy | ||
| S4 | 1.3814 | Monthly S2 | SAR (0.02; 0.2) | Sell | Buy | Sell | ||
| Aggregate | ↘ | ↗ | ↘ |