USDSGD Time to sell this rally.

The USDSGD pair has been rebounding non-stop since the September 27 bottom and yesterday broke above its 1D MA50 (blue trend-line) for the first time in more than 3 months (since July 04). This confirmed that the correction since July is over but with the 1D RSI above 60.00 and heading towards the overbought barrier (70.00), we expect a rejection there.

In fact, there was a similar fractal that was rejected on March 10 2023, on the correction's 0.382 Fibonacci retracement level a little after the 1D RSI turned overbought. This resulted into a test of the 0.618 Fib of the rebound Leg.

As a result, we are expecting a rejection on the 0.382 Fib or when the 1D RSI gets overbought above 70.00 and our Target is the 0.618 Fib at 1.29150.

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