| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇗ |
The US Dollar has been depreciating against the Singapore Dollar since the beginning of September. This movement has been bounded within the descending channel.
Currently, the USD/SGD currency pair is testing the support level formed by the monthly S1 at 1.3748. Note that the pair is pressured by the 55-, 100– and 200-hour SMAs, currently located in the 1.3750/1.3773 range. Thus, it is likely that bears could continue to prevail.
If the given channel holds, it is likely that the exchange rate could decline within in in the short term. Otherwise, a breakout south could occur. A possible downside target is the Fibonacci 38.20% retracement at 1.2630.