CHF/SGD 1H Chart: Short-term increase expected
The CHF/SGD exchange rate has been trading in an descending channel for a week now. This gradual decrease in price began when the pair reversed from the upper boundary of a medium-term ascending channel at 1.4180.
As it apparent on the chart, the pair is being supported by the 55– and 100-hour SMAs on the 1H time-frame. It is expected that the pair breaches junior channel and re-tests senior trend in the nearest future.
It is the unlikely case that some bearish pressure still prevails in the market, the Swiss Franc should not exceed the monthly PP at 1.4009.
As it apparent on the chart, the pair is being supported by the 55– and 100-hour SMAs on the 1H time-frame. It is expected that the pair breaches junior channel and re-tests senior trend in the nearest future.
It is the unlikely case that some bearish pressure still prevails in the market, the Swiss Franc should not exceed the monthly PP at 1.4009.
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