Oil creeping up?

My car was coming low on fuel this morning led to a trip to the gas station.

Imagine my surprise to see that petroleum breached the SGD2.80 mark It has stayed below this level for quite a while.

I was aware some instability in USD against other components and it mildly weakened during the last few weeks, while crude oil was in congestion phase. Has something happened the last week or so?

Fig 1. SGD weekly chart

USD was actually strengthening against SGD the ast few weeks, bouncing back from its bottom of SGD1.31744. While alarming, it movement is still within the boundary of its congestion. 

At the same time, it is touching the 55-week moving average. There is a possibility that it may reverse down in the coming week, either a congestion or into correction.

At this point of time, I am not seeing much indication going higher. On a contrary, the indication is still on a down slide, with USD further weaken against SGD. The larger projection measurement indiactes a 61.8% projection support of 1.2670.

However, if the counter breaks the resistance of 1.357, next point of resistance is 1.370 to 1.384.

Fig 2. Crude oil weekly chart

Coincidentally, Crude oil also rised from its bottom 63.64 and surpassed its 55-week moving average 79.13, and it managed to stay above this resistance turned support.

It is presently stopped by the envelop of the rectangle at 83.53 this week. Should it retest this level and manage to break upward, the next level of resistance is between 92.34 to 94.746.

Should it failed to break through, it may fall back to 63.64.

At this point, I really need to cross my fingers hoping that the 55-week moving average manage to hold back the advance of oil and SGD.