US Dollar, USD / SGD, USD / THB, USD / PHP, USD / IDR – ASEAN Technical Analysis
- The US dollar wants an aggressive return against ASEAN currencies
- USD / SGD may be on the edge of a rectangle, USD / THB to face the peaks of 2020?
- USD / PHP shot higher, clearing the main points of resistance. USD / IDR relatively tame by now
Singapore dollar technical outlook
After that, the US dollar may be on the verge of increasing profits against the Singapore dollar USD/ SGD closed the highest since November. Prices follow the ceiling of the rectangle chart with a zone of resistance of 1.3530 – 1.3506. This is also followed by increases in the 20-day and 50-day simple moving average (SMA). Nevertheless, the negative divergence in the RSI persists. This indicates that the momentum is fading, which may precede a lower turn. If this happens, the rectangle floor can be moved as consolidation continues. Otherwise, prices may be highest since the beginning of November.
USD / SGD daily card
Thai bat technical outlook
The US dollar extended Thai aggression gains quite aggressively over the past month. This followed an increase in the cup and handle diagram noted earlier in June. The USD / THB is now trading at its highest level since April 2020, rising as a result of a bullish crossover between 20- and 50-day SMAs. Prices closed above the 78.6% Fibonacci extension at 32.4928. It has peaked since 2020, creating a resistance zone between 33.0640 and 33.1880 as prices rose as a result of the global coronavirus outbreak.
USD / THB daily card
Philippine peso technical outlook
The US dollar also boosted aggressive growth against the Philippine peso over the past month. This has brought USD / PHP to its highest level since June 2020, after crossing the rectangular map pattern. Immediate resistance appears to be June 12thth, The highest value in 2020 is 51,415. Clearing this price would then reveal a resistance zone of 50.88 – 51.03. Otherwise, the downward shift may focus on the increase in support last month, as well as on 20- and 50-day SMAs.
USD / PHP daily card
Technical outlook for the Indonesian rupiah
The US dollar has also been trying to expand profits against the Indonesian rupiah since June, but the rise in the USD / IDR has been relatively quiet recently. USD / IDR halted the growth of the 14525–14563 turning zone. However, the increase between 20-50 day SMAs suggests that near-term bias may be biased upwards. Violation of the turn zone will reveal the peaks from April. Otherwise, the downturn and decline of short-term SEAs could divert attention from February to potential increases.
USD / IDR daily card
–– Written by Daniel Dubrovsky Strategist to DailyFX.com
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