The USD/SGD has gone below the top neckline of the S/H/S figure at 1.3266. If USD/SGD can maintain that level over the course of the week, then the top pattern will be confirmed and a further decline towards 1.2098 is likely, with further drops possible in the long-term.
Sitting at 1.3266, the previous support has now shifted to become resistance. While USD/SGD can climb a bit higher to 1.3455, it does not have an effect on the overall high of the formation.
