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
USD Dollar Outlook, Momentum Fading? USD/SGD, USD/THB, USD/IDR, USD/PHP

USD Dollar Outlook, Momentum Fading? USD/SGD, USD/THB, USD/IDR, USD/PHP

Daniel Dubrovsky, Strategist

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

  • The US Dollar’s momentum against ASEAN currencies slowed
  • USD/SGD approaching key resistance, USD/THB could climb
  • USD/IDR attempting to extend gains, USD/PHP consolidating

Singapore Dollar Technical Outlook

The US Dollar paused its advance against the Singapore Dollar this past week, with USD/SGD remaining in a fairly consolidative state since the beginning of this year. Recently, a bullish crossover emerged between the 20-day and 50-day Simple Moving Averages (SMAs). These could come into play as key support in the event of a material turn lower. Extending gains may place the focus on the 1.3504 – 1.3530 resistance zone.

USD/SGD Daily Chart

USD Dollar Outlook, Momentum Fading? USD/SGD, USD/THB, USD/IDR, USD/PHP

Chart Created in TradingView

Thai Baht Technical Outlook

The US Dollar extended gains against the Thai Baht, with USD/THB breaking above a bullish Cup and Handle chart pattern, as anticipated. Prices are testing the July 2020 high at 31.858. Confirming a push above this price could open the door to resuming the pair’s advance, as implied by the Cup and Handle. That may place the focus on the 78.6% Fibonacci retracement at 32.452.

USD/THB Daily Chart

USD Dollar Outlook, Momentum Fading? USD/SGD, USD/THB, USD/IDR, USD/PHP

Chart Created in TradingView

Indonesian Rupiah Technical Outlook

The US Dollar’s upward momentum against the Indonesian Rupiah has also slowed. USD/IDR has bounced off key support at 14195, with the 20-day and 50-day SMAs on the verge of forming a bullish crossover. That could imply an upward near-term bias to come, perhaps opening the door to revisiting the April peak. Otherwise, resuming losses from then entails a drop through the May low.

USD/IDR Daily Chart

USD Dollar Outlook, Momentum Fading? USD/SGD, USD/THB, USD/IDR, USD/PHP

Chart Created in TradingView

Philippine Peso Technical Outlook

The US Dollar struggled to extend recent gains against the Philippine Peso. USD/PHP struggled to push into the familiar 48.823 – 48.990 resistance zone that has been in play since October. Prices have largely remained in a consolidative state since then. Still, a bullish crossover between the 20-day and 50-day SMAs could entail a cautiously upward bias to come.

USD/PHP Daily Chart

USD Dollar Outlook, Momentum Fading? USD/SGD, USD/THB, USD/IDR, 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