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Bear Flattening In Early Asia Trade




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DOLLAR-WON TECHS: Bears Dominate While 55-DMA Caps
*RES 4: Krw1133.4 - 55-DMA
*RES 3: Krw1131.5 - High Aug 25
*RES 2: Krw1131.3 - 100-DMA
*RES 1: Krw1124.5 - Low Aug 29 now resistance
*PRICE: Krw1126.4 @ 2300GMT
*SUP 1: Krw1119.0 - Low Aug 28
*SUP 2: Krw1116.9 - Bollinger band base
*SUP 3: Krw1114.3 - High July 27 now support
*SUP 4: Krw1110.5 - 2017 Low Mar 28
*COMMENTARY: Failure to trouble the 200-DMA left the pair looking heavy
resulting in closes below 21, 55 & 100-DMAs last week. Bears have so far failed
to capitalise on the gapping move lower with the bounce Tuesday providing
breathing room. Bulls continue to look for a close above the 55-DMA to shift
focus to Krw1140.1-1148.1 where the 200-DMA (Krw1146.3) is located. Bears still
need a close below Krw1119.0 to confirm focus on 2017 lows.

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