This is a currency pair that I hold close to my heart.
As someone who travels to Shenzhen china almost monthly, I am pretty interested to put what I learn into good use to gain an advantage in life.
I change SGD to CNH every single month.
Keeping this post short, I am expecting SGDCNH to go down to 4.7 before rebounding.
For those of you who are planning to visit China in the next few months, I will suggest either changing more CNH this month or wait until it rebounds from 4.7,completing a 5-0 harmonic pattern before it charges towards $5. Do not change your sgd to cnh when it is around 4.7, either change it early or wait to change after it rebounds.
I cannot predict how long it will take but my conclusion is I will see the SGD weakening against the CNH over the next few months.