USD/SGD 1H Chart: Channel Up

While the U.S. Dollar is underperforming relative to the Swiss Franc, it manages to gain ground against its Singapore counterpart. And if the support at 1.2545, consisting of the 200-hour SMA and rising support line, stops the current bearish correction and triggers buying, the resistance at 1.26 will most likely be USD/SGD's next destination.

In the meantime, although the technical indicators are largely mixed on all the time-frames, the target in the longer-term perspective could be 1.28, namely the high seen on Mar 20, as the sentiment of the SWFX market is explicitly bullish right now—73% of all open positions on the currency pair are long.