AUD/SGD 1H Chart: Triangle pattern
The Australian Dollar has been depreciating gradually against the Singapore Dollar since the middle of August. This movement has been bounded in a descending triangle.
Assuming that this pattern is to hold intact for a couple of sessions, the Australian Dollar should gain momentum and aim for its upper line located near 1.0000. Then, most likely a breakout south should occur.
From a theoretical point of view, this breakout should be followed by a surge, at least in the short term. The nearest downside target is the monthly S3 at the 0.9914 mark.
Assuming that this pattern is to hold intact for a couple of sessions, the Australian Dollar should gain momentum and aim for its upper line located near 1.0000. Then, most likely a breakout south should occur.
From a theoretical point of view, this breakout should be followed by a surge, at least in the short term. The nearest downside target is the monthly S3 at the 0.9914 mark.