| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Buy | Neutral |
| Alligator (13; 8; 5) | Buy | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇘ | ⇘ |
USD/SGD has been trading in a triangle-like formation since early 2018. Following a test of its lower boundary on March 27, the US Dollar has began a gradual recovery against its Singapore counterpart. The pair even breached a three-week trend-line around 1.3130 today.
This factor suggests that it might be bound for a surge towards the upper triangle line in the 1.3250/1.3300 territory. Even if this appreciation does not occur during the following week, bulls are expected to prevail in the medium term.
Meanwhile, technical indicators flash bearish signals, so a decline is a more likely scenario this week. A possible downside target for today could be the combined support of the 55-, 100– and 200-hour SMAs and the weekly PP at 1.3110. A further decline would push the US Dollar below the bottom triangle boundary and the weekly S1, thus approaching the three-year low of 1.3020. This level might remain unreached, as the 1.3060 area is expected to provide unbreakable support.