US Dollar Reversal at Pivotal Point? USD/SGD, USD/THB, USD/IDR, USD/PHP

US Dollar Reversal at Pivotal Point? USD/SGD, USD/THB, USD/IDR, USD/PHP

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

  • US Dollar eyeing pivotal points versus ASEAN currencies as it gains
  • USD/SGD, USD/THB, USD/IDR, USD/PHP all face 200-day SMAs
  • Breaching long-term technical barriers opens door to deeper reversals

Discover what kind of forex trader you are

Singapore Dollar Technical Outlook

The US Dollar is attempting to climb against the Singapore Dollar after USD/SGD recently closed at its highest since early November. The pair broke above a falling zone of resistance from June, but follow-through has been lacking. This is where the 200-day Simple Moving Average (SMA) is coming into focus, as well as the 1.3527 – 1.3561 inflection zone. The former could maintain the dominant downside focus, with a drop under 1.3389 perhaps opening the door to revisiting January lows. Otherwise, November highs could be next.

USD/SGD Daily Chart

US Dollar Reversal at Pivotal Point? USD/SGD, USD/THB, USD/IDR, USD/PHP

USD/SGD Chart Created in TradingView

Thai Baht Technical Outlook

The US Dollar is making relatively aggressive upside progress against the Thai Baht, with USD/THB confirming a break above a falling zone of resistance from April 2020. Prices are currently idling around the 200-day SMA which may maintain the downside focus. However, breaching the 38.2% Fibonacci extension at 30.9228 could open the door to further gains. Immediate support appears to be the 10-day SMA, with the 30.440 – 30.3560 inflection zone sitting just below that.

Forex for Beginners

Forex for Beginners

Recommended by Daniel Dubrovsky

Learn how to become a more consistent forex trader

USD/THB Daily Chart

US Dollar Reversal at Pivotal Point? USD/SGD, USD/THB, USD/IDR, USD/PHP

USD/THB Chart Created in TradingView

Indonesian Rupiah Technical Outlook

The US Dollar is also pushing higher against the Indonesian Rupiah, with USD/IDR attempting to confirm a break above the key 200-day SMA. Guiding the pair higher seems to be a near-term rising trendline from February. Prices are approaching the 14525 – 14563 inflection point. A breakout higher could open the door to revisiting highs from September. Otherwise, a turn lower under the rising trendline exposes the critical 13870 – 14012 support zone from the end of last year.

For updates on ASEAN currencies as they break key technical levels, be sure to follow me on Twitter @ddubrovskyFX.

USD/IDR Daily Chart

US Dollar Reversal at Pivotal Point? USD/SGD, USD/THB, USD/IDR, USD/PHP

USD/IDR Chart Created in TradingView

Philippine Peso Technical Outlook

The Philippine Peso has remained fairly resilient to recent US Dollar strength, with the 200-day SMA maintaining the dominant downside focus in USD/PHP. The pair seems to have reinforced the 48.8230 – 48.9900 resistance zone. Prices seem to be eyeing the 48.2870 – 48.3600 inflection zone following recent losses. A break under this area could open the door to revisiting lows from February. Otherwise, pushing above key resistance exposes highs from July.

Top Trading Lessons

Top Trading Lessons

Recommended by Daniel Dubrovsky

How can you overcome common pitfalls in FX trading?

USD/PHP Daily Chart

US Dollar Reversal at Pivotal Point? USD/SGD, USD/THB, USD/IDR, USD/PHP

USD/PHP Chart Created in TradingView

— Written by Daniel Dubrovsky, Strategist for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

element inside the element. This is probably not what you meant to do!nn Load your application’s JavaScript bundle inside the element instead. https://platform.twitter.com/widgets.js

Originally Posted on: https://www.dailyfx.com/forex/technical/article/special_report/2021/03/11/US-Dollar-Reversal-at-Pivotal-Point-USDSGD-USDTHB-USDIDR-USDPHP.html
By: Daniel Dubrovsky

Written by:

10,321 Posts

View All Posts
Follow Me :

Leave a Reply

%d bloggers like this: