US Greenback, USD/SGD, USD/THB, USD/PHP, USD/IDR – ASEAN Technical Evaluation
- The US greenback rose towards ASEAN currencies this week
- Key tendencies for USD/SGD, USD/IDR, USD/THB, USD/PHP
- As costs purpose to hit new highs this yr, what are the important thing ranges to look at?
Beneficial by Daniel Dubrovsky
Get Your Free USD Forecast
Singapore Greenback Technical Outlook – Bearish
The US greenback gained towards the Singapore greenback final week. USD/SGD climbed 1.81% in its finest 5-day efficiency since March 2020. This has introduced the pair inside inches of the April 22, 2020 excessive of 1.4329. Confirming a breakout above the previous may open the door for additional features, highlighting the April 2020 excessive at 1.4416. Within the occasion of a flip quick, there may be some scope for a draw back correction earlier than the rising trendline begins from August. The latter can restore focus in reverse.
USD/SGD Every day Chart
Chart created in Buying and selling View
Thai Baht Technical Outlook – Bearish
The US greenback additionally edged up towards the Thai baht final week, with USD/THB rising 2 p.c. Costs confirmed a breakout above the 36.738 – 36.949 resistance space, opening the door for features. Fast resistance seems to be a 100% Fibonacci extension at 37.956. Past this value the June 2006 peak is 38.61. There’s a unfavourable RSI divergence, indicating that the uptrend since July is waning. Within the occasion of a flip decrease, the 20-day SMA may maintain as help whereas sustaining a broader upside focus.
USD/THB Every day Chart
Chart created in Buying and selling View
Philippine Peso Technical Outlook – Bearish
The identical was the story of the Philippine peso. USD/PHP rose 2.48% final week, one of the best efficiency for the US greenback since November 2010. Thus, the costs continued to rise above the 2005 peak. Value broke the 61.8% Fib extension at 58.4106, highlighting the 78.6% degree at 59.3106. The latter is fast resistance. Extending revenue past it will open the door to face the 100% degree at 60.457. Destructive RSI divergence persists. Flip decrease will concentrate on the 20-day SMA as the primary help. The latter can restore focus to the foremost upside.
Beneficial by Daniel Dubrovsky
Fundamentals of breakout buying and selling
USD/PHP Every day Chart
Chart created in Buying and selling View
Indonesian Rupiah Technical Outlook – Impartial
The US greenback carried out comparatively modestly towards the Indonesian rupiah. However, the USD/IDR was focused larger, closing above the July peak at 15030. There was an absence of affirmation of the breakout on the shut of final week. Extension Revenue 78.6% Fibonacci concentrate on extension at 15145.53. Destructive RSI divergence warns {that a} flip decrease might be in retailer. In such a case, the 20-day SMA may act as help, restoring focus to the upside.
Join the Commerce Smarter – DailyFX e-newsletter
Obtain well timed and compelling market commentary from the DailyFX group
Subscribe to Publication
USD/IDR Every day Chart
Chart created in Buying and selling View
— Written by Daniel Dubrovsky, strategist at DailyFX.com
To contact Daniel, use the remark part beneath or@ddubrovskyFXon twitter
