PHP, SGD, IDR, MYR Tech Outlook. Trend Resumption vs Consolidation

ASEAN Technical Outlook – USD/PHP, USD/SGD, USD/IDR, USD/MYR

  • USD/IDR pushes higher as dominant uptrend may resume course next
  • As expected, critical support range prevented lasting USD/SGD losses
  • USD/MYR, USD/PHP may resume consolidation as momentum ebbs

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USD/IDR Technical Analysis – Dominant Uptrend Resumes

After weeks of consolidation between the September 2015 high and 14,930, USD/IDR broke higher as it aims to extend what essentially has been the dominant uptrend since January. However, negative RSI divergence warns that the US Dollar’s appreciation against the Indonesian Rupiah might be running out of steam. As such, IDR bears should proceed with caution. Near-term resistance is the 138.2% Fibonacci extension at 15,140 while support seems to be 15,003 followed by a near-term rising support line.

USD/IDR Daily Chart

PHP, SGD, IDR, MYR Tech Outlook. Trend Resumption vs Consolidation

USD/SGD Technical Analysis – Potential for Uptrend Resumption

As expected

Article source: https://www.dailyfx.com/forex/technical/article/special_report/2018/10/04/PHP-SGD-IDR-MYR-Tech-Outlook-Trend-Resumption-vs-Consolidation.html