US Dollar Struggling Versus SGD as USD/IDR and USD/MYR Prices Rise

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

  • USD/SGD upside momentum fading on weekly chart, now below resistance
  • Indonesian Rupiah and Malaysian Ringgit continue facing selling pressure
  • USD/PHP showing multiple reversal warning signs as BSP intervenes rate

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USD/SGD Technical Analysis – Upside Momentum Fading?

On a weekly chart, the Singapore Dollar weakened against its US counterpart to its lowest since July 2017. USD/SGD also closed just above near-term horizontal resistance at 1.38185. It also achieved its most aggressive climb over the course of one week since June at +1.11%. However, negative RSI divergence warns that upside momentum is ebbing.

USD/SGD Weekly Chart

US Dollar Struggling Versus SGD as USD/IDR and USD/MYR Prices Rise

Zooming in on the daily USD/SGD chart, we can see that thus far the pair is struggling to hold on to its push above resistance. This followed the longest consecutive rising streak,

Article source: https://www.dailyfx.com/forex/technical/article/special_report/2018/10/10/US-Dollar-Struggling-Versus-SGD-as-USDIDR-and-USDMYR-Prices-Rise.html