AUD/SGD 1H Chart: Short-term decline expected - Trade Pattern Ideas - Dukascopy Bank

Mon, 28 Jan 2019 12:59:17 GMT
Source: Dukascopy Bank SA
 

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

The AUD/SGD currency pair continued to trade within the falling wedge pattern. The pair has already reached the psychological level at 0.9600.  

Technical indicators for the 1D and 1W time frames suggest that the general direction is expected to remain south. It is likely that the exchange rate targets the lower pattern boundary located in the 0.9300/0.9400 range.  

If given pattern does not hold, it is expected that a breakout south occurs within following sessions. A possible downside target is the psychological level at 0.9000.


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