© Dukascopy Bank SA
Using the 200-hour SMA as a springboard CHF/SGD managed to end the period of sideways movement. Now the currency pair is decisively moving north, overcoming the resistances it meets. The technical indicators on all three relevant time-frames reinforce the positive outlook, suggesting the bullish potential of the Swiss Franc has not yet been fully realised and will drive the rate forward.
Meanwhile, Franc's appreciation lately has notably slowed down, calling into question whether the currency pair will really be able to keep the pace and advance farther.
© Dukascopy Bank SA