Never miss a story from Daniel Dubrovsky

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Daniel Dubrovsky

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.


  • Malaysian Ringgit weakens to lowest since January against USD
  • USD/PHP failed to breach critical support as it awaits breakout
  • USD/IDR may be aiming lower as USD/SGD narrows oscillation

Trade all the major global economic data live as it populates in the economic calendar and follow the live coverage for key events listed in the DailyFX Webinars. We’d love to have you along.

USD/MYR Technical Outlook

The Malaysian Ringgit has weakened to its lowest point against the US Dollar since January, with USD/MYR having recently experienced its largest gain in a single day (+0.55%) since November 2016. The pair has not only cleared a bullish reversal pattern, but it is now above the falling resistance line from November. The next phase in resuming the dominant uptrend involves taking out the psychological barrier at 4.1448 which if cleared, opens the door to December highs. Near-term support is at 4.13. Feel free to follow me on Twitter here @ddubrovskyFXfor more timely updates on ASEAN currencies.

USD/MYR Daily Chart

Malaysian Ringgit Losses May Extend. USD/PHP Breakout Eyes Support

USD/PHP Technical Outlook

Meanwhile, USD/PHP came close to resuming the dominant downtrend from its top in October after support held above 51.59. The pair has since bounced back to a trend line from late January that has at this point acted both as resistance and support. Should the Philippine Peso weaken against the US Dollar, near-term resistance seems to be at 52.12. If USD/PHP on the other hand manages to turn lower and clear the psychological barrier, there may be few roadblocks to stop it from touching 51.16 (late January 2018 highs/February 2018 lows).

USD/PHP Daily Chart

Malaysian Ringgit Losses May Extend. USD/PHP Breakout Eyes Support

USD/IDR Technical Outlook

As USD/IDR is eyeing the Indonesian General Election, the falling resistance line from December (pink line on the chart below) seems to be keeping the dominant downtrend intact. After the Indonesian Rupiah gained against the US Dollar, the pair broke under a rising support line from February. This has opened the door to extending declines with the next psychological barrier eyed at 14010. Should USD/IDR fall through it, it will then be eyeing a range of support between 1348 and 13923.

USD/IDR Daily Chart

Malaysian Ringgit Losses May Extend. USD/PHP Breakout Eyes Support

USD/SGD Technical Outlook

The Singapore Dollar still finds itself in a familiar range-bound trade against the US Dollar, even despite a relatively cautious MAS monetary policy announcement. In fact, USD/SGD oscillation seems to have narrowed to a boundary between support at 1.3516 and resistance at 1.3575. This is while at the same time, getting stuck on the falling trend line from October 2018 (red line on the chart below). A descent opens the door to testing 1.3472 while rising exposes 1.3608.

USD/SGD Daily Chart

Malaysian Ringgit Losses May Extend. USD/PHP Breakout Eyes Support

**All Charts Created in TradingView

Read this week’s ASEAN fundamental outlook to learn about the underlying drivers for these currencies!

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter