USD/SGD today broke the horizontal Key Support Level 1.2195 identified by Autochartist on the 4-hour charts. Autochartist rates the Significance of this Key Level at the 5 bar level – which corresponds to the 5 recent price reversals from this support (which can be seen on the Key Levels chart below).
This breakout is aligned with the predominant long-term downtrend visible on the weekly USD/SGD charts. The pair is expected to fall further in the direction of the Forecast Price 1.2153 – as can also be seen from the PowerStats chart shown below.
As you can see from the following PowerStats chart for USD/SGD, the lower boundary of the daily Expected Price Range calculated by Autochartist for tomorrow (1.2151) nearly coincides with the Forecast Price calculated for the above Key Level Breakout (1.2153) – which adds to the probability that this currency pair will continue to decline toward 1.2153 tomorrow.