If the W pattern is into play, I expect SGD/CNY to move to around 5.0. Now it is at resistance. I believe traders will start to short it but due to China slowing economy, yuan will continue to devalue a bit more. Eventually surpassing the resistance trendline will lead the price to ~5.0 which I will consider change some CNY to keep for longer term.
Related post: http://tachartreading.blogspot.com/2016/05/sgd-vs-china-yuan-technical-analysis-may.html
