US Dollar, USD / SGD, USD / THB, USD / PHP, USD / IDR – ASEAN Technical Analysis
- US dollar losing momentum against ASEAN currencies, a new peak?
- USD / SGD may be vulnerable to short-term damage, USD / THB downtime?
- USD / PHP consolidation under a key obstacle, USD / IDR eye trend line
Singapore dollar technical outlook
The Singapore dollar is trying to regain its lost position against the US dollar, but the broader USD / SGD outlook remains on the upside. There may be room for losses in the near future after the couple confirmed that support will increase from June. Now prices are re-testing the 1.3530 – 1.3495 turning zone. Bullish ‘Golden crossThere is a bullish bias in the medium term between the 50-200 day mobile moving average (SMA). These lines may again focus higher if prices become significantly lower.
USD / SGD daily schedule
Technical outlook for Thai Baht
The US dollar has slowed its progress against the Thai baht, but the USD / THB remains relatively high. This is about the highest since April 2020, with a key resistance of 33,188-33,064. Monitor the RSI closely, a negative discrepancy may occur. This would be a sign that momentum is disappearing, which can sometimes precede a lower turn. This is where a 20-day SEA can come in handy. If it breaks, it will reveal a 50-day SMA material decline.
USD / THB daily schedule
Philippine peso technical outlook
The Philippine peso is also stabilizing against the US dollar, but volatility remains a risk given recent sharp price developments. USD / PHP struggled to break the 50.88 – 51.03 resistance zone after a negative RSI mismatch. There is now a 20-day SEA for immediate support. The bounce can focus on instant resistance 50.63. Otherwise, lowering the 49.95 reveals a 50-day SMA that could restore the dominant focus.
USD / PHP daily schedule
Technical outlook for the Indonesian rupiah
The Indonesian rupiah can see some near-term progress against the US dollar as the USD / IDR tries to breach the base support at 14465. Confirmation of the break would focus on a 50-day SMA. In June, a golden cross appeared between the 20-50 periodic rows, offering a tiltable tilt. In case of deeper losses, the potential trend line of February may also come into play. Continuing this year’s bottom means clearing 14,560 toward April’s high of 14,645.
USD / IDR daily schedule
–– Written by Daniel Dubrovsky, Strategist For DailyFX.com
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