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US greenback crushes its ASEAN friends, the place to go? USD/SGD, USD/THB, USD/PHP, USD/IDR


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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

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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.

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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



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