CHF/SGD 1H Chart: Two scenarios likely

Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Sell Neutral
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The Swiss Frank has been appreciating against the Singapore Dollar after the currency pair reversed from the lower boundary of a medium-term ascending channel at 1.3900.  

As apparent on the chart, the exchange rate is supported by the 55-, 100– and 200-hour SMAs, currently located near the 1.3950 mark. From a theoretical point of view, the pair might move upwards. Potential upside target could be the 1.4100/1.4150 range. 

Otherwise, it is expected that the currency pair might re-test the ascending channel. If given trend does not hold, a breakout might occur. In this case, the pair will aim for the psychological mark at 1.386.

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