Is USD/SGD constructive or overshooting?

USD/SGD has become a runaway market, characterised by historic highs in the daily MACD (12, 26, 9).

Equally significant in USD/SGD’s bullish makeup is the distance between the MACD and its signal line, which has reached a width not seen in the last six months. Yesterday's higher reading though, is an early warning that momentum has started to wane.