US Dollar, USD / SGD, USD / THB, USD / PHP, USD / IDR – ASEAN Technical Analysis
- US dollar continues to fight against most ASEAN currencies
- USD / SGD facing the next test USD / THB are you ready to face the 2018 record?
- USD / PHP wedge in the eye, USD / IDR to confirm a trend break?
Singapore dollar technical outlook
The Singapore dollar is facing the next test against the US dollar USD/ SGD broke down on increasing support since June. The couple left a Hammer candlestick pattern as it retested the former 1.3495 – 1.3530 turning zone. It is a sign of indecision, which can sometimes precede a turn higher. Although short-term biases are still declining slightly, the gold supports upward biases between the 50-200-day moving average in the medium term. Keep a close eye on those SMAs that may be key support.
USD / SGD daily schedule
Technical outlook for Thai Baht
The US dollar will continue to gain against the Thai baht as the USD / THB reassesses its peak from 2020 onwards. Clearing this range will reveal the peaks in 2018, which will be a key resistance zone between 33,518 and 33,320. A negative RSI difference indicates that the rate of increase is fading, which can sometimes precede a turnaround. In this case, closely monitor the 20-day SMA. Folding down can open the door to material that turns lower toward the 50-day line.
USD / THB daily schedule
Philippine peso technical outlook
The Philippine peso continues to land against the US dollar. USD / PHP appears to have been lower in the near term after the pair took out a 20-day SMA. This has revealed a 50-day line that can play as a mainstay and restore an upside bias. Nevertheless, the pair is consolidating lower Falling wedge chart pattern. The rupture above it could open the door to continue the upward trend seen from June to mid-July.
USD / PHP daily schedule
Technical outlook for the Indonesian rupiah
The US dollar could be vulnerable to the Indonesian rupiah after the USD / IDR fell below the rising line in February. Confirming an outbreak with a second daily closure number may further increase the risk of negative risk. Watch closely for 20- and 50-day SMAs, where severe trading deaths may occur in future trading sessions. The basic support below appears to be the lowest level in May at 14195. Turning higher could focus on the highest level in June at 14560.
USD / IDR daily schedule
–– Written by Daniel Dubrovsky, Strategist For DailyFX.com
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