Skip to Content
News & Analysis at your fingertips.
Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
US Dollar Technical Outlook: USD/SGD, USD/MYR, USD/IDR, USD/PHP

US Dollar Technical Outlook: USD/SGD, USD/MYR, USD/IDR, USD/PHP

Daniel Dubrovsky, Contributing Senior Strategist


What's on this page

US Dollar, USD/SGD, USD/MYR, USD/IDR, USD/PHP – ASEAN Technical Analysis

  • USD/SGD may turn higher after bullish Double Bottom
  • USD/MYR eyeing a bullish Falling Wedge chart pattern
  • USD/IDR consolidating, USD/PHP could bounce next

Singapore Dollar Technical Outlook

After recently succumbing to weakness, the US Dollar could reverse higher against the Singapore Dollar. USD/SGD seems to be forming a Double Bottom bullish chart pattern. Prices may bounce off the 1.3558 – 1.3571 support zone given the presence of positive RSI divergence. The latter is a sign of fading downside momentum. A subsequent climb above the neckline (1.3690 – 1.3718) may open the door for a further push towards the 1.3805 – 1.3820 inflection zone.

USD/SGD Daily Chart

USD/SGD Daily Chart

USD/SGD Chart Created in TradingView

Malaysian Ringgit Technical Outlook

The US Dollar remains in a downtrend against the Malaysian Ringgit. However, USD/MYR seems to be in the process of forming a bullish Falling Wedge chart pattern. A breakout above the ceiling of the wedge could open the door to a turnaround given a confirmatory upside close thereafter. That would place the focus on the September 9th high at 4.1740. Otherwise, a push under the 78.6% Fibonacci extension at 4.1226 could open the door to eventually revisiting the current 2020 low at 4.05.

Find your trading personality and optimal forms of analysis

USD/MYR Daily Chart

USD/MYR Daily Chart

USD/MYR Chart Created in TradingView

Indonesian Rupiah Technical Outlook

The US Dollar seems to be in a neutral setting against the Indonesian Rupiah. USD/IDR recently rejected the key 14915 – 14975 resistance range as well as the former rising trend line from June. Intervention from the Bank of Indonesia seems to be playing a role here. This also follows negative RSI divergence. Yet, the 50-day Simple Moving Average (SMA) could reinstate the focus to the upside, perhaps pushing prices to retest aforementioned resistance. Otherwise, further losses expose the key 14525 – 14563 support range below.

For updates on ASEAN currencies as they break key technical levels, be sure to follow me on Twitter @ddubrovskyFX.

USD/IDR Daily Chart

USD/IDR Daily Chart

USD/IDR Chart Created in TradingView

Philippine Peso Technical Outlook

The US Dollar could attempt to push higher against the Philippine Peso next. That is because USD/PHP paused recent losses once again around lows from November 2016. This makes for a key range of support between 48.28 and 48.36. Positive RSI divergence also shows that downside momentum is fading, which could precede a push higher. Such an outcome places the focus on the October 2016 high at 48.66 and then the 50-day SMA. Otherwise, downtrend resumption exposes the October 2016 low at 47.92.

Forex for Beginners
Forex for Beginners
Recommended by Daniel Dubrovsky
Learn how to become a more consistent forex trader
Get My Guide

USD/PHP Daily Chart

USD/PHP Daily Chart

USD/PHP Chart Created in TradingView

--- Written by Daniel Dubrovsky, Currency Analyst for

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.