Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View More
US Dollar Reversal at Pivotal Point? USD/SGD, USD/THB, USD/IDR, USD/PHP

US Dollar Reversal at Pivotal Point? USD/SGD, USD/THB, USD/IDR, USD/PHP

Daniel Dubrovsky, Senior Strategist

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

  • US Dollar eyeing pivotal points versus ASEAN currencies as it gains
  • USD/SGD, USD/THB, USD/IDR, USD/PHP all face 200-day SMAs
  • Breaching long-term technical barriers opens door to deeper reversals
The Quiz
Discover what kind of forex trader you are
Start Quiz

Singapore Dollar Technical Outlook

The US Dollar is attempting to climb against the Singapore Dollar after USD/SGD recently closed at its highest since early November. The pair broke above a falling zone of resistance from June, but follow-through has been lacking. This is where the 200-day Simple Moving Average (SMA) is coming into focus, as well as the 1.3527 – 1.3561 inflection zone. The former could maintain the dominant downside focus, with a drop under 1.3389 perhaps opening the door to revisiting January lows. Otherwise, November highs could be next.

USD/SGD Daily Chart

USD/SGD Daily Chart

USD/SGD Chart Created in TradingView

Thai Baht Technical Outlook

The US Dollar is making relatively aggressive upside progress against the Thai Baht, with USD/THB confirming a break above a falling zone of resistance from April 2020. Prices are currently idling around the 200-day SMA which may maintain the downside focus. However, breaching the 38.2% Fibonacci extension at 30.9228 could open the door to further gains. Immediate support appears to be the 10-day SMA, with the 30.440 – 30.3560 inflection zone sitting just below that.

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

USD/THB Daily Chart

USD/THB Daily Chart

USD/THB Chart Created in TradingView

Indonesian Rupiah Technical Outlook

The US Dollar is also pushing higher against the Indonesian Rupiah, with USD/IDR attempting to confirm a break above the key 200-day SMA. Guiding the pair higher seems to be a near-term rising trendline from February. Prices are approaching the 14525 – 14563 inflection point. A breakout higher could open the door to revisiting highs from September. Otherwise, a turn lower under the rising trendline exposes the critical 13870 – 14012 support zone from the end of last year.

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 Philippine Peso has remained fairly resilient to recent US Dollar strength, with the 200-day SMA maintaining the dominant downside focus in USD/PHP. The pair seems to have reinforced the 48.8230 – 48.9900 resistance zone. Prices seem to be eyeing the 48.2870 – 48.3600 inflection zone following recent losses. A break under this area could open the door to revisiting lows from February. Otherwise, pushing above key resistance exposes highs from July.

Top Trading Lessons
Top Trading Lessons
Recommended by Daniel Dubrovsky
How can you overcome common pitfalls in FX trading?
Get My Guide

USD/PHP Daily Chart

USD/PHP Daily Chart

USD/PHP Chart Created in TradingView

--- Written by Daniel Dubrovsky, Strategist for DailyFX.com

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.

DISCLOSURES