Even though the US Dollar saw mixed performance against ASEAN currencies last week, dominant uptrends remain the focus for USD/SGD, USD/THB, USD/PHP and USD/IDR. Get your market update from ddubrovskyFX here:
The US Dollar ended little changed against the Singapore Dollar this past week. This brought USD/SGD’s rise since the August low to a pause. A potential falling trendline might be forming from July. Meanwhile, rising support from February is keeping the broader uptrend intact. The lack of meaningful progress last week is thus offering a neutral setting this week. Clearing the August swing high exposes the July peak at 1.4096.
The US Dollar cautiously weakened against the Indonesian Rupiah last week. This follows the emergence of a bearish Evening Star candlestick pattern. Further downside confirmation has been achieved, opening the door to losses ahead. However, keep an eye on the 100-day Simple Moving Average below. It could come into play as key support, maintaining the broader upside focus. Otherwise, the August low at 14670 would be next. Confirming a breakout above the 38.
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