US Dollar Technical Outlook: USD/SGD, USD/THB, USD/IDR, USD/PHP
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US Dollar May Extend Gains vs Euro, Retail Sales and PPI Data Eyed
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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.
Bulls hold gains after volatile week, close on positive territory
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