The US Dollar has been rising against the Singapore Dollar, Philippine Peso, Thai Baht and Indonesian Rupiah. Will momentum last as USD/SGD, USD/PHP, USD/THB and USD/IDR test resistance? Get your market update from ddubrovskyFX here:
The US Dollar has been making steady upside progress against the Singapore Dollar since February. However, the uptrend has slowed. Key resistance seems to have been established between 1.3866 and 1.3905. Still, a bullish ‘Golden Cross’ remains in play between the 20- and 50-day Simple Moving Averages . These lines could maintain the dominant upside focus should prices turn lower. Clearing resistance exposes the midpoint and 61.8% Fibonacci extensions at 1.3929 and 1.3975 respectively.
The US Dollar also continues to make steady upside progress against the Philippine Peso. Zooming out, USD/PHP seems to be trading within a Rising Wedge chart formation that goes back to one year ago. The pair is testing the ceiling once more, with negative RSI divergence present. This is a sign of fading upside momentum, which can hint at a turn lower. While prices may fall, it would likely take a break under the wedge to materially shift the outlook bearish.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'COVID is not done with us': US to mark 1 million coronavirus-related deaths'We all may be done with COVID, but COVID is not done with us,' said Dr. Darren Mareiniss of Einstein Medical Center.
Read more »
US Dollar Index to see further gains barring a much weaker than expected US CPI data – INGThe US Dollar Index (DXY) is now trading at the highest levels since 2002. This week, the US April CPI data is released on Wednesday. Barring a much w
Read more »
Canadian Dollar Outlook: USD/CAD’s Path Higher at Risk as Key Resistance LoomsUSD/CAD has rallied in recent weeks, buoyed by risk-off sentiment and hawkish Fed expectations, but its advance could be at risk as a key technical resistance could block its path higher. Get your weekly Canadian Dollar forecast from DColmanFX here:
Read more »
This Billion-Dollar Crypto Loan Is Easy to Get, but Gone in a FlashFlash loans can have benefits, such as helping traders capitalize on price differences between cryptocurrencies on different exchanges. But flash loans have a dark side.
Read more »
US national gas average jumps again, reaches $4.38 per gallonThe average U.S. price of regular-grade gasoline has jumped 15 cents over past two weeks to $4.38 per gallon.
Read more »
Newark Museum makes history hosting 1st U.S. show by Filipino-American artistCarlos Villa: Worlds in Collision runs through Sunday in Newark
Read more »