SGDMYR, SGDCNY up or Down?

SGDMYR has been in a down channel on a longer term uptrend.

The currency has been weakening against the SGD for more than a year now and seems to be capped by $3.00.

Support is now at 2.9 - 2.8 and resistance at the top of the channel at 3.30 is the 1.618 extension of the move from the channel bottom.


SGDMYR


SGDCNY

SGDCNY, with the PRC weakening their currency recently after inclusion in to the World's reserve currency basket, the currency has been on the move.