USD/SGD Rise at Risk, Last Line of Defense Holds USD/PHP Uptrend

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

  • USD/SGD making bold upside push as bearish reversal warning sign pops up
  • Last line of defense is keeping the dominant uptrend in USD/PHP prices intact
  • USD/MYR eyes October 2017 resistance as USD/IDR remains in consolidation

We released our 4Q forecasts for currencies like the US Dollar in the DailyFX Trading Guides page

USD/SGD Technical Analysis – Upside Momentum is Fading

The Singapore Dollar is quickly losing ground against its US counterpart after USD/SGD closed at its highest since July 2017. The pair has broken above a horizontal resistance line around 1.38185 and remains supported by a rising trend line from September. However, negative RSI divergence warns that upside momentum is fading. Should 1.38633 hold, 1.38185 would be critical to watch in the event of a reversal. Meanwhile, an ascent above 1.38633 exposes the June 2017 highs.

USD/SGD Daily Chart

USD/SGD Rise at Risk, Last Line of Defense Holds USD/PHP Uptrend

USD/PHP Technical Analysis – Dominant Uptrend At

Article source: https://www.dailyfx.com/forex/technical/article/special_report/2018/10/31/USDSGD-Rise-at-Risk-Last-Line-of-Defense-Holds-USDPHP-Uptrend.html