US Dollar Technical Outlook: USD/SGD, USD/THB, USD/IDR, USD/PHP
2021-06-14 03:00:00
Daniel Dubrovsky,
Strategist
US Dollar, USD/SGD, USD/THB, USD/PHP, USD/IDR – ASEAN Technical Analysis
US Dollar saw mixed performance against ASEAN currencies
Singapore Dollar Technical Outlook
The US Dollar remains in a consolidative state against the Singapore Dollar, albeit with a slight downward bias. USD/SGD recently bounced off key horizontal support between 1.3158 and 1.3189. This also followed positive RSI divergence, a sign of fading downward momentum. The 20- and 50-day Simple Moving Averages (SMAs) continue to uphold a downward trajectory, especially after the two lines formed a bearish ‘Death Cross’ back in April. The latter may push the pair to retest key support ahead.
Gold prices may be at risk to the fastest expected pace of US core inflation growth since early 1993. If XAU/USD falls, rising support from March could maintain the upside focus.
The US Dollar steadied against most ASEAN currencies this past week. Key support levels remain in play looking at USD/SGD, USD/THB and USD/PHP. USD/IDR may rise with a new trendline.
US Dollar Technical Outlook: USD/SGD, USD/THB, USD/IDR, USD/PHP
2021-05-24 03:00:00
Daniel Dubrovsky,
Strategist
US Dollar, USD/SGD, USD/THB, USD/PHP, USD/IDR – ASEAN Technical Analysis
US Dollar is seeing mixed technical signals across ASEAN FX
Singapore Dollar Technical Outlook
The US Dollar continues to consolidate against the Singapore Dollar, but with what seems to be a slight downside bias. There was a bearish crossover between the 20- and 50-period Simple Moving Averages in April that remains in play. Falling resistance from March also seems to be maintaining the downside bias. A daily close under the 78.6% Fibonacci retracement at 1.3238 may open the door to revisiting the key 1.3158 – 1.3189 support zone.
Moving Average (MA) Explained for Traders dailyfx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyfx.com Daily Mail and Mail on Sunday newspapers.