AUD/SGD 4H Chart: Ascending Triangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
A symmetrical triangle suggested that the upward motion will continue for AUD/SGD, leading into levels unconquered since May 2015. The pair posted a high on November 10 at 1.0815 and could see this as an attractive target for the nearest movements. The rate has been sticking to the triangle resistance at 1.0702 recently, suggesting that a breakout will come rather sooner than later. If another wave south is undergone before an attack at the supply area of the pattern, a load of supports will elevate the pair from the 1.0633/14 area to target 1.0771 after the breakout.
© Dukascopy Bank SA
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