CHF/SGD 1H Chart: Upside potential could prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralNeutralBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

The Swiss Franc has been depreciating against the Singapore Dollar since the middle of August when the currency pair reversed south from the upper boundary of the long-term ascending channel at 1.4332.  

From a theoretical point of view, it is likely that the exchange rate could trade downwards in the nearest future, as it should reach the lower channel line located in the 1.3900/1.4000 range. 

If the given channel holds, the general direction is expected to remain north. However, note that the currency pair has to surpass the monthly R1 at the 1.4341.

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