USD/SGD 1H Chart: Resistance level at sight

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

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

The USD/SGD currency pair breached the medium-term ascending channel south at the end of December and reached the psychological level at 1.3500 last Friday.  

As apparent on the chart, the pair is testing the resistance level formed by the monthly S1 at 1.3574. If given resistance does not hold, the exchange rate targets the monthly PP at the 1.3675 mark. 

Otherwise, it is expected that the currency pair goes downwards. Important support level to look out for is the Fibonacci 23.60% retracement located at 1.3414.

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