| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Sell | Sell | Sell |
| SAR (0.02; 0.2) | Sell | Sell | Sell |
| Aggregate | ⇓ | ⇓ | ⇓ |
The Swiss Franc has been trading in a short-term decline against the Singaporean Dollar for almost a month. The rate halting at the 61.8% Fibonacci expansion line late August indicated to a possible formation of a new descending channel.
However, the diminishing trading range resembles more a falling wedge. Fibonacci expansions worked effectively at stranding the pair between the 61.08% and 100% level before a breakout below the latter occurred late on Wednesday. During the aforementioned consolidation phase, the Franc failed to push through a resistance cluster formed by the 55-, 100– and 200-hour SMAs and the weekly PP in the 1.4000/1.4060 area.
Given that technical indicators are strongly bearish and therefore due for a recovery, a re-test of this area is the most likely scenario. This could set the pair for a breakout of the upper wedge line and consequently a surge until the weekly or monthly PPs at 1.4056 and 1.4141, respectively.