Patterns: CHF/SGD, NZD/CHF
|CHF/SGD 4H Chart: Downside potential could prevail
The CHF/SGD currency pair has been declining within a descending channel since the end of August.
From a theoretical point of view, it is likely that some downside potential could prevail in the market, and the exchange rate could continue to decline within the given channel in the medium term.
On the other hand, it is likely that the currency pair could gain support from the 55-, 100– and 200-period SMAs in the 1.4980/1.5030 range and breach the predetermined channel.
NZD/CHF 4H Chart: Two scenarios likely
The NZD/CHF exchange rate has been declining within a falling wedge pattern since the beginning of September.
From a theoretical perspective, it is likely that the currency pair could trade downwards within the given pattern within the following trading sessions. Then, a breakout north could occur.
Meanwhile, note that the exchange rate is pressured by the 55-period moving average near 0.6120. Thus, some downside potential could prevail in the market.
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