CHF/SGD 1H Chart: Short-term channel in sight

Note: This section contains information in English only.
Source: Dukascopy Bank SA

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

The Swiss Franc has been appreciating gradually against the Singapore Dollar since the beginning of November. This movement has been bounded in the ascending channel.  

Currently, the currency pair is testing the upper channel line located at 1.3870. From a theoretical point of view, a reversal south occurs in the nearest future and the pair continues to trade in given trend. It is expected that the pair targets the lower channel boundary circa 1.3720 and reverse north.  

However, if given channel does not hold, a breakout north occurs within following trading sessions. Potential upside target is the monthly R3 at 1.4042.

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