While the US Dollar has been under pressure against ASEAN currencies, it seems to be holding up well all things considered. Where to for USD/SGD, USD/THB, USD/PHP and USD/IDR? Get your market update from ddubrovskyFX here:
The US Dollar steadied against the Singapore Dollar following losses since July. USD/SGD was unable to clear the 78.6% Fibonacci retracement level at 1.3753. That reinforced the price as key support. Meanwhile, the pair was unable to hold a close under the 100-day Simple Moving Average . Still, the near-term downtrend remains in play. A breakout under these key support levels would expose the May low at 1.3660.
The US Dollar extended losses against the Thai Baht. However, USD/THB left behind a couple of signals that the near-term downtrend is losing steam. The first is a Hammer candlestick pattern. This is a sign of indecision as prices tested the 50-day SMA. The latter also held, reinforcing the dominant uptrend. A confirmatory close under the line would undermine the Hammer and open the door to extending losses. That would place the focus on the 61.8% Fibonacci retracement level at 35.154.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Dollar Forecast: DXY Index, USD/JPY Show Signs of ToppingThe US Dollar (via DXY Index) is falling in the wake of the July US inflation report as US Treasury yields and Fed rate hike odds drop. The DXY Index has lost support at the uptrend from the late-March and late-May swing lows.
Read more »
Strategy Webinar: US Dollar Majors, Stocks, Gold, Oil Weekly OutlookIn last week’s Webinar we discussed the threat for some back-and-fill on the USD. Technicals continue to playout with precision and heading into the start of the week the focus is on possible near-term exhaustion on this stretch.
Read more »
'Targets on us just got bigger': Illinois becomes US abortion epicenter after Roe's fallFor many Americans, Illinois is fast becoming the only place to legally access abortion after the Supreme Court overturned Roe v. Wade in June.
Read more »
How Wall Street wooed Sen. Kyrsten Sinema and preserved its multibillion-dollar carried interest tax breakWall Street lobbyists targeted Sen. Kyrsten Sinema to keep the carried interest loophole intact before the provision was dropped from the climate and tax bill.
Read more »
The lack of follow-through for the dollar is disappointing – BBHThe dollar is softer as markets await fresh drivers. Economists at BBH maintain a strong dollar call but profess disappointment that it has not been a
Read more »