AUD/SGD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Australian Dollar started a channel down pattern on April 11 against the Singapore Dollar. At the moment, the currency exchange rate has reached the upper trend line at 1.0033, and it started to bounce off it and thus confirmed the pattern. On its way down the rate first faces a cluster of resistances below at 0.9976 where the 55 and 100-period SMAs together with the weekly PP are located. Afterwards the Aussie could struggle with the weekly S1 at 0.9879 against the Singapore Dollar. However, the strongest support cluster is located from 0.9796 to 0.9773, as the February low level, weekly S2 and monthly S3 make up the cluster. A downward movement is also supported by trader sentiment, as 70% of open positions are long, and it indicates that the pair might be overbought.
© Dukascopy Bank SA
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Mon, 20 Jun 2016 12:03:24 GMT

EUR/SGD 4H Chart: Channel Down

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Mon, 20 Jun 2016 07:56:09 GMT

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