Since the end of October, the CHF/SGD currency pair has been trading within a rising wedge pattern.
From a theoretical point of view, it is likely that the exchange rate could breach the predetermined pattern south within the following trading sessions. Note that the rate could gain support from the monthly S1 and S2, located at 1.4754 and 1.4564 respectively.
In the meantime, note that the currency pair could gain support from the 200-period moving average near 1.4900. Thus, some upside potential could continue to prevail in the market.
