US Dollar, USD / SGD, USD / THB, USD / PHP, USD / IDR – ASEAN Technical Analysis
- The US dollar continues to rise against ASEAN currencies
- USD / SGD overcoming a major obstacle, USD / THB eying 2020 high?
- USD / PHP is approaching its peak from April 2020 as USD / IDR consolidates
Singapore dollar technical outlook
The US dollar is struggling with a resistance zone of 1.3506 – 1.3530 above that Rectangular diagram pattern. Indeed, a negative RSI discrepancy indicates that the uptrend is slowing down, which can sometimes precede a lower turnaround. However, a bullish crossover between the 50-day and 200-day simple moving averages (SMAs) may soon occur, providing a broader bullish technical background. Further gains may focus on highs from October.
USD / SGD daily card
Thai bat technical outlook
The US dollar continues to rise against the Thai Baht consequences above the bullish bullish cup and handles chart. USD / THB has also risen 78.4% over the Fibonacci extension at 32.4928, revealing a 100% level at 32.89. The intersection between the 20-day and the 50-day SEA continues to point to a growing technical bias in the near future. This may bring the couple closer to last year’s highs.
USD / THB daily card
Philippine peso technical outlook
The US dollar continues to make progress against the Philippine peso, while the USD / PHP extends to the bottom of June. Prices are now testing for June 12thth, The highest value in 2020 is 50,415. Clearing this point would then reveal a main resistance zone of 50.88 – 51.03, as prices aim to reverse the previous dominant downward trend. Below the turnaround, before reaching the 20-day SEA, there would be some opportunities to go, which could be the main support.
USD / PHP daily card
Technical outlook for the Indonesian rupiah
The US dollar continues to consolidate against the Indonesian rupiah, with the USD / IDR idling between resistance and support at 14560 and 14465, respectively. The intersection between short-term 20-day and 50-day SMAs still offers bias. Possible upward support from February could also provide an impetus to maintain the upward trend in long-term losses. A further rise will reveal the highest temperature in April.
USD / IDR daily card
–– Written by Daniel Dubrovsky Strategist to DailyFX.com
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