USD/SGD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having jumped above its 200-hour SMA, USD/SGD fell off in vigour and dropped below the long-term SMA that has acted as a formidable resistance since then. The U.S. Dollar continued to depreciate against its Singapore's counterpart after crossing the SMA and recently the pair has hit more than a half-year low of 1.2344.
Currently, the currency couple is vacillating at its 50-hour SMA at 1.2381 and is expected to overcome this level as suggested by the SWFX data showing that 83.3% of all orders are placed to buy the pair.
© Dukascopy Bank SA
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