Otherwise, key resistance above seems to sit at 14560. A confirmatory downside close under this price could shift the outlook increasingly bearish. Immediate support seems to be the 14465 inflection point. Prices did pierce the 14402 – 14438 resistance zone back in late April. The US Dollar also remains in an offensive position against the Indonesian Rupiah.
USD/THB Daily ChartĬhart Created in TradingView Indonesian Rupiah Technical Outlook – Slightly Bullish A breakout under the rising trendline from February could shift the outlook bearish, placing the focus on the 50-day SMA which could reinstate the upside focus. Clearing the latter exposes the May 2017 high at 34.816. Immediate resistance seems to be the 78.6% Fibonacci extension at 34.540. Recently, USD/THB took out the 33.861 – 34.000 resistance zone and the July 2017 peak at 34.149. The US Dollar also continues to make gains against the Thai Baht, especially since the beginning of February. Otherwise, the August 2019 high at 52.80 is nearing.Ĭhart Created in TradingView Thai Baht Technical Outlook – Slightly Bullish While prices may fall, it would likely take a break under the wedge to materially shift the outlook bearish. This is a sign of fading upside momentum, which can hint at a turn lower.
The pair is testing the ceiling once more, with negative RSI divergence present. Zooming out, USD/PHP seems to be trading within a Rising Wedge chart formation that goes back to one year ago. The US Dollar also continues to make steady upside progress against the Philippine Peso. USD/SGD Daily ChartĬhart Created in TradingView Philippine Peso Technical Outlook – Slightly Bullish Clearing resistance exposes the midpoint and 61.8% Fibonacci extensions at 1.3929 and 1.3975 respectively.
These lines could maintain the dominant upside focus should prices turn lower. Still, a bullish ‘Golden Cross’ remains in play between the 20- and 50-day Simple Moving Averages (SMAs). Key resistance seems to have been established between 1.3866 and 1.3905. The US Dollar has been making steady upside progress against the Singapore Dollar since February. Get My Guide Singapore Dollar Technical Outlook – Slightly Bullish
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