$USDSGD has outperformed my own expectations, so heres a timely update before the new year arrives.

1.45 is a clear 61.8% fib retracement level from the 24 Dec 2001 peak of 1.85, so expect to see consolidation here before it makes the next big move. Weekly RSI is slightly overbought but looking at history, whenever it broke above 70RSI, it has gone higher for a couple of months before showing extended weakness, therefore I would be inclined to long on pullbacks, especially if it goes close to 1.40. Rising support trendline is quite well defined. If it breaks above 1.45 with strength, its a clear signal for much prices.



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