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AUD/SGD 4H Chart: Rising wedge pattern in sight

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellBuySell
Aggregate⇘⇗⇒

[ANNOUNCE] Since the beginning of October, the AUD/SGD currency pair has been trading upwards within a rising wedge pattern. [/ANNOUNCE] 

From a theoretical point of view, it is likely that the exchange rate could continue to trade upwards within the given pattern within the following trading sessions. Then, a breakout south could occur, and the rate could target the 0.9550 level. 

In the meantime, note that the currency pair could gain support from the 100– and 200-period moving averages in the 0.9725 range. Thus, some upside potential could prevail in the market, and the pair could target the 1.0050 mark.

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