AUD/SGD 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/SGD is set for a decline both in the short and long terms. The currency pair has just met the upper bound of the descending channel and is thus expected to head towards the lower bound next, namely the 0.9650/00 area. The rallies are to be limited by 1.0100/1.0050 (down-trend, monthly PP, and Feb 17 high), but if the bulls keep pushing the price higher, 1.04 will become the new objective. There we have the highest levels since August and December of 2015. A good ‘sell' opportunity is also implied by the positioning of market participants, as the Aussie is currently overbought to a significant extend—as many as 74% of open positions are long.
© Dukascopy Bank SA
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Fri, 19 Feb 2016 14:42:05 GMT

AUD/JPY 1H Chart: Channel Down

As the bears have been able to pierce through several vital supports on Friday, we expect them to be in a good position to commence an ever deeper sell-off. The only daily support left is daily S3 at 79.41. In case this one is breached, the next demand will only be offered by the February 11 low and weekly S1

Fri, 19 Feb 2016 07:20:58 GMT

NZD/USD 4H Chart: Channel Down

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