USD/SGD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
During the last 190 trading hours the currency pair has been generally advancing forward, while at the same time ignoring the long-term simple moving average that has proven to be unable to stop USD/SGD from moving higher. Now the price is approaching the 200-hour SMA from above in order to regain the bullish momentum it lost near the rising resistance line. If the support at 1.2690 manages to negate the sell-off, the channel up, as a currently emerging pattern, will be confirmed. However, we cannot rule out a possibility of a breach that in turn is likely to imply extension of the dip down to 1.2639.

© Dukascopy Bank SA
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