US Dollar Technical Analysis: USD/SGD, USD/THB, USD/IDR, USD/PHP

The US Dollar continues to consolidate against the Singapore Dollar. Having said that, USD/SGD does appear to have a slight downward bias. A bearish crossover between the 20-day and 50-day Simple Moving Averages (SMAs) seems to hint at near-term losses. The pair was unable to pierce above the 1.3375 – 1.3389 inflection zone as the 50-day SMA held as resistance. Resuming the dominant downtrend entails a drop through the 1.3158 – 1.3189 support zone. Guiding the pair lower seems to be a potential trendline from March. The US Dollar may be preparing to push higher against the Thai Baht. USD/THB pushed above … (full story)

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