US Dollar Showing Some Signs of Resilience: USD/SGD, USD/THB, USD/PHP, USD/IDR

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

  • The US Dollar faired comparatively nicely in opposition to ASEAN currencies final week
  • USD/SGD was unable to clear assist, USD/THB struggling to fall extra
  • USD/PHP was range-bound as uptrend paused, USD/IDR eyes 50-day SMA

Singapore Dollar Technical Outlook – Slightly Bearish

The US Dollar steadied in opposition to the Singapore Dollar following losses since July. USD/SGD was unable to clear the 78.6% Fibonacci retracement stage at 1.3753. That bolstered the worth as key assist. Meanwhile, the pair was unable to carry a detailed underneath the 100-day Simple Moving Average (SMA). Still, the near-term downtrend stays in play. A breakout underneath these key assist ranges would expose the May low at 1.3660. Otherwise, a flip greater and above the 50-day line might open the door to revisiting the July peak.

USD/SGD Daily Chart

Chart Created in TradingView

Thai Baht Technical Outlook – Neutral

The US Dollar prolonged losses in opposition to the Thai Baht. However, USD/THB left behind a pair of alerts that the near-term downtrend is shedding steam. The first is a Hammer candlestick sample. This is an indication of indecision as costs examined the 50-day SMA. The latter additionally held, reinforcing the dominant uptrend. A confirmatory shut underneath the road would undermine the Hammer and open the door to extending losses. That would place the deal with the 61.8% Fibonacci retracement stage at 35.154. Beyond that’s the 78.6% stage at 34.666. Otherwise, a flip greater might open the door to revisiting the July excessive at 36.949.

USD/THB Daily Chart

US Dollar Showing Some Signs of Resilience: USD/SGD, USD/THB, USD/PHP, USD/IDR

Chart Created in TradingView

Philippine Peso Technical Outlook – Neutral

The US Dollar consolidated in opposition to the Philippine Peso this previous week. This prevented PHP from extending features since July. USD/PHP was unable to pierce via the 23.6% Fibonacci retracement stage at 55.2627 after clearing the 20-day SMA. As such, the 50-line is quick approaching and will maintain as assist, maybe sustaining the broader upside focus. That might place the main target again on the July peak at 56.527. Otherwise, additional losses would shift the outlook more and more bearish, bringing the 38.2% retracement nearer at 54.4806.

USD/PHP Daily Chart

US Dollar Showing Some Signs of Resilience: USD/SGD, USD/THB, USD/PHP, USD/IDR

Chart Created in TradingView

Indonesian Rupiah Technical Outlook – Neutral

The US Dollar misplaced some floor to the Indonesian Rupiah this previous week. That mentioned, USD/IDR struggled to make significant draw back progress. Prices stay underneath the 20-day SMA, however the 50-line stays to be examined. As such, it might maintain as assist and preserve the dominant upside focus. Breaking underneath the road would shift the outlook more and more bearish, putting the deal with the 38.2% Fibonacci retracement stage at 14798. Beyond the latter is the May excessive at 14730, which might maintain as new assist. Resuming features would place the main target again on the July peak at 15030.

USD/IDR Daily Chart

US Dollar Showing Some Signs of Resilience: USD/SGD, USD/THB, USD/PHP, USD/IDR

Chart Created in TradingView

— Written by Daniel Dubrovsky, Strategist for DailyFX.com

To contact Daniel, use the feedback part beneath or @ddubrovskyFX on Twitter





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