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Has the correction in USD/SGD run its course?

Although positively aligned, the 50- and the 200-period SMAs see the USD/SGD quoting between both averages on 4H charts.

The shift from a steady rally to the unfolding of a corrective pattern has brought RSI below its 35% level, considered oversold territory in an otherwise bullish context.

While still above its 200 SMA, buyers may try to keep the upward trajectory in place. If taken out, a slide below the 200 moving average would suggest an increased risk that the corrective process has developed into a new downward trend. A close back above the 50 SMA would delay the current stumbling and spur ideas that another wave of demand is likely.

USD/JPY back above a key SMA

USD/JPY back above a key SMA
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AUD/USD upside running out of steam?

AUD/USD is currently trading at 0.7084 with a high of 0.7111 and a low of 0.7042.
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