The USD/SGD is still trying to break the 1.3242 level

The US Dollar versus the Singaporean Dollar has stalled at the resistance zone around the 1.3242 level. At the current stage, if there is a bounce to the downside, a double top pattern may be formed. We must keep in mind that the longer the price stays consolidated around the current levels, the higher the probability of the price breaking out instead of bouncing. If we see a breakout to the upside, then we patiently wait for the pullback to the same 3242 zone for a possible long entry. Up to now, the uptrend remains intact.