at peaks has more downside potential; signifies short term down trend to prolong.
In between, it is now likely to break one more support at 1.3579 levels, if it does then more weakness can be seen and swings may resume again.
Scepticism on Break out above support and its sustenance could take the swings either way.
Don’t expect any asset class to give steep spikes or declines forever, if it happens then that’s deemed as speculative moves one fine day tumbles massively. That is what has happened in USDSGD’s case from last two days.
The down-trend began from last four months has been drifting in a resembling taking upper as resistance and lower as supports.
We’re quite sure you would be convinced after referring our previous write up on this pair, please refer below weblink for more readings:
Hence, we could see the upswings from last two days can be utilized for the best entry levels for fresh shorts build ups for southward targets of 1.3525 or even upto 1.3420 levels with strict stop loss at 1.3635 levels.