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 Outlook, Prices Stalling? USD/SGD, USD/THB, USD/PHP, USD/IDR

US Dollar Outlook, Prices Stalling? USD/SGD, USD/THB, USD/PHP, USD/IDR

Daniel Dubrovsky, Senior Strategist

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

  • The US Dollar losing momentum against ASEAN currencies, new top?
  • USD/SGD may be vulnerable to near-term losses, USD/THB stalling?
  • USD/PHP consolidating under key resistance, USD/IDR eyes trendline

Singapore Dollar Technical Outlook

The Singapore Dollar is attempting to regain lost ground against the US Dollar, but the broader USD/SGD outlook still remains tilted to the upside. There may be room for losses in the near term after the pair confirmed a breakout under rising support from June. Now, prices are retesting the 1.3530 – 1.3495 inflection zone. A bullish ‘Golden Cross’ between the 50- and 200-day Simple Moving Averages (SMAs) underpins a bullish bias in the medium-term. These lines may reinstate the focus higher should prices turn materially lower.

USD/SGD Daily Chart

USD/SGD Daily Chart

Chart Created in TradingView

Thai Baht Technical Outlook

The US Dollar has also slowed its advance against the Thai Baht, but USD/THB remains relatively elevated. It sits around the highest since April 2020, with key resistance sitting above between 33.188 and 33.064. Keep a close eye on RSI, negative divergence may emerge. That would be a sign of fading upside momentum which can at times precede a turn lower. This is where the 20-day SMA may come into play as key support. If it breaks, that would subsequently expose the 50-day SMA in the event of a material downturn.

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

Chart Created in TradingView

Philippine Peso Technical Outlook

The Philippine Peso is also stabilizing against the US Dollar, but volatility still remains a threat given recent choppy price action. USD/PHP struggled to breach the key 50.88 – 51.03 resistance zone following negative RSI divergence. Now, the 20-day SMA is in focus as immediate support. A bounce could place the focus on immediate resistance at 50.63. Otherwise, dropping through 49.95 exposes the 50-day SMA which may reinstate the dominant focus to the upside.

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

Chart Created in TradingView

Indonesian Rupiah Technical Outlook

The Indonesian Rupiah may see some near-term progress against the US Dollar as USD/IDR attempts to breach key support at 14465. Confirming the breakout would place the focus on the 50-day SMA. A ‘Golden Cross’ emerged in June between the 20- and 50-period lines, offering an upside bias. A potential trendline from February could also come into play in the event of deeper losses. Resuming this year’s bottom entails clearing 14560 towards the April high at 14645.

USD/IDR Daily Chart

USD/IDR Daily Chart

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