CHF/SGD 1H Chart: Short-term increase expected

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate⇒⇗⇒

[ANNOUNCE] The CHF/SGD currency pair reversed north from the lower boundary of the falling wedge pattern located circa 1.3425 at the beginning of March. [/ANNOUNCE] 

As apparent on the chart, the pair has already reached the psychological level at 1.3640. From a theoretical perspective, it is expected that the exchange rate reaches the upper pattern line located in the 1.3650/1.3680 range. If the given pattern holds, a reversal south occurs within the following sessions. 

Otherwise, it is likely that a breakout north from the pattern occurs soon. A possible upside target is the Fibonacci 50.00% retracement at 1.3784.

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