USD retreating against SGD

My last up-date mentioned USD will be retreating to SGD1.32 before pressing up again. So true to its form, it is presently retreating and as of today, landing at SGD1.349.

Fig 1 SGD USD weekly chart

On a weekly basis, the indicators are turning downwards and headed for below 50% mark. I gather that SGD1.32 is fast reaching. To be exact, the neckline support is SGD1.315. There is however, a tendency that this level is not going to be reached as the 34 weeks moving average is supporting at SGD1.323.

Anyway, looking forward to it.