The US dollar is trading at its weakest point against the Singapore dollar since September after USD/SGD posted a sharp decline last week. Prices broke below the August uptrend line. In addition, it turns out that the pair has shown a breakout under a bearish upper double cat formation. This can open the door to the extent of losses. The key turns out to be the tipping zone 1. 4061 – 1. 4107. Below, the undeniable 100-day moving average (SMA) may come into play, restoring concentrate to the upside.
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The US dollar continued to rise against the Indonesian rupiah, with USD/RDI reaching its highest point since April 2020. A bullish golden cross remains between the undeniable 20- and 50-day moving averages, providing a bullish bias. Repair the concentration upwards in case of a decrease. The fast resistance is the Fibonacci extension of 78. 6% to 15663. Beyond that, there is the one hundred percent point in 15800.
The U. S. dollar slowed its rise against the Thai baht last week. This followed the presence of a negative divergence in the RSI, which looks like the bullish momentum of USD/THB is fading. Such an occasion may also warn that a downward turn could be an option to come. However, keep an eye out for August’s uptrend line. It can also return to the bullish direction towards the June 2006 high of 38. 61. Otherwise, the break below exposes the 100-day SMA.
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The U. S. dollar continues to lag against the Philippine peso. USD/PHP has been trading at a small difference between 58. 41 and 59. 31 since mid-September. There is the possibility of financial intervention here. The Central Bank of the Philippines has signaled to markets in recent days that it is in a position to use equipment to reduce currency volatility. Traders continue cautiously in case of further profits. There is a negative divergence in the RSI, which seems to indicate that the bullish momentum is fading. A decreasing turn focuses on 20- and 50-period SMAs.
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— Written by Daniel Dubrovsky, DailyFX. com strategist
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