AUD/SGD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Comment: AUD/SGD bottomed out on Sep 4 at 0.9830, and since then the currency pair has been forming a upward-sloping channel. Accordingly, the outlook is bullish. However, in the short term the downside risks are substantial because of the mixed technical indicators and proximity to solid resistance at 1.0120, where the upper edge of the pattern joins forces with the Aug 28 high. The price is therefore likely to decline down to a dense demand zone around 0.9974, where we have the rising support trend-line together with the weekly pivot point and 200-hour SMA, before surpassing 1.0120. In the meantime, the SWFX sentiment is strongly bullish: right now 71% of open positions are long.
© Dukascopy Bank SA
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Thu, 17 Sep 2015 05:32:52 GMT

AUD/CAD 1H Chart: Channel Up

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Wed, 16 Sep 2015 13:33:05 GMT

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