The US Dollar saw a mixed week against Asian Fx. The USD ended little changed against the Singapore Dollar this past week, bringing the USD/SGD pair’s rise since the August low (1.3666) to a pause. A potential falling trendline might be forming from July as the rising support from February is keeping the uptrend intact.
This past week saw no meaningful progress, which calls for a neutral setting this week.
The USD slightly weakened against the Indonesian Rupiah last week after emerging a bearish Evening Star candlestick pattern. Furthermore, the USD barely rose against the Thai Baht last week.
The USD/THB currency pair could not clear the 38.2% Fibonacci extension at 36.1613. however, the bounce in the pair since early August is still obvious, offering a slightly bullish bias
The US Dollar traded relatively flat against the Philippine Peso last week. Causing the USD/PHP currency pair to reduce. Prices are cautiously pushing higher towards the July peak at 56.527, but progress has been slow.
However, despite the recent trend and pattern the USD is following against other currencies, the dominant uptrends remain the market’s main focus.
The question on traders’ minds remains, “what is the way forward for USD/SDG, USD/IDR, USD/THB, USD/PHP?”