The Technical outlook For Some Asian Currencies Versus The Dollar
Publish Date : 2019/07/26 - 09:39

USD/SGD TECHNICAL OUTLOOK

The dollar may well rise against the Singapore Dollar after dropping from 1.3658 resistance. Since early July, it has been on the upside since the fall of May fell. On the other hand, turning lower has support eyed as a range between 1.3609 and 1.3624.

USD/INR TECHNICAL OUTLOOK

Unlike the Indian rupee, the US dollar had a different path. The USD / INR is in the range of resistance between 69.04 and 69.13. There is a decline in December and October 2018. The difference between the two lines with the pink area is determined in the table below. The pair has been slowing down since last year.

USD/MYR TECHNICAL OUTLOOK

Technical conditions in the Malaysian Ringgit offer a slightly bearish outlook. USD/MYR closed above a near-term falling trend line from June after holding above support at 4.1070. This may result in a test of near-term resistance at 4.1250 which if cleared, opens the door to reaching what may be a potential falling trend line from late May. Otherwise, turning lower past support exposes 4.0950 – 4.0930.

USD/PHP TECHNICAL OUTLOOK

Meanwhile, USD/PHP is struggling to find direction as it hovers around a long-term trend line from 2013. If it ends up holding, we may see a resumption of Philippine Peso weakness that has defined its momentum for six years. Near-term resistance is at 51.29 followed by 51.50. For technical confirmation of a breakout lower, keep an eye on the December 2017 high at 50.79.

Source: Dailyfx.com

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