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MNI Asian Morning FX Technical Analysis

11 December 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
DOLLAR-SING TECHS: Sgd1.3536-61 Resistance Region Key
*RES 4: Sgd1.3659 - Monthly High Nov 6 
*RES 3: Sgd1.3607 - Bollinger band top 
*RES 2: Sgd1.3562 - 55-DMA 
*RES 1: Sgd1.3536 - 200-WMA
*PRICE: Sgd1.3521 @ 2300GMT
*SUP 1: Sgd1.3504 - Low Dec 8 
*SUP 2: Sgd1.3486 - Hourly support Dec 7 
*SUP 3: Sgd1.3459 - Low Dec 6
*SUP 4: Sgd1.3448 - Low Dec 5
*COMMENTARY: Correcting O/S daily studies impacted in past weeks with support
emerging on dips a concern for bears. Bulls still need a close above the 200-WMA
to ease bearish pressure and above the 55-DMA now to shift initial focus to
Sgd1.3659. Key support remains at Sgd1.3486 with bears needing a close below to
ease pressure on resistance layers and below Sgd1.3399 to reconfirm focus on
2017 lows.
DOLLAR-WON TECHS: Above Krw1101.4 Initially Pressures Krw1107.5-1110.5
*RES 4: Krw1110.5 - Low Mar 28 now resistance
*RES 3: Krw1107.5 - High Nov 16
*RES 2: Krw1101.4 - High Nov 20
*RES 1: Krw1096.2 - High Dec 7
*PRICE: Krw1093.3 @ 2300GMT
*SUP 1: Krw1090.4 - Low Dec 8
*SUP 2: Krw1080.3 - Low Nov 30
*SUP 3: Krw1075.5 - 2017 Low Nov 29
*SUP 4: Krw1066.6 - 2015 Low Apr 29 2015
*COMMENTARY: The lack of follow through after recent 2017/2+ year lows now sees
the pair flirting with the 21-DMA (Krw1095.4). Bulls still need a close above
Krw1101.4 to confirm a break of the 21-DMA and shift focus to Krw1107.5-1110.5.
Bears continue to look for a close below Krw1090.4 to gain breathing room and
below Krw1080.3 to retain focus on 2015 lows and then the Krw1045.6 Oct monthly
low from 2014.
DOLLAR-MYR TECHS: Myr4.0930 Resistance Remains Key
*RES 4: Myr4.1725 - Lows Nov 10 & 15 now resistance 
*RES 3: Myr4.1423 - High Nov 24 
*RES 2: Myr4.1311 - High Nov 28 
*RES 1: Myr4.0930 - High Nov 30
*PRICE: Myr4.0864 @ 2300GMT
*SUP 1: Myr4.0700 - Low Dec 8 
*SUP 2: Myr4.0470 - 2017 Low Dec 5 
*SUP 3: Myr4.0370 - Monthly Low Sept 8 2016 
*SUP 4: Myr4.0135 - Low Aug 26 2016
*COMMENTARY: Follow through was lacking on the recent 2017 lows with correcting
O/S daily studies providing the impetus for a correction. Initial resistance is
noted at Myr4.0930 with bulls needing a close above to ease bearish pressure and
hint at a correction back to Myr4.1292-1423 with the 21-DMA at Myr4.1360. While
Myr4.0930 caps bears remain focused on Myr3.9750-4.0315 where the Aug monthly
low is noted. Overall focus remains on the 200-WMA (Myr3.9191).
DOLLAR-CNH TECHS: 100-DMA Continues To Cap
*RES 4: Cnh6.7154 - Low Aug 1 now resistance 
*RES 3: Cnh6.6904 - High Oct 3 
*RES 2: Cnh6.6651 - High Oct 27 
*RES 1: Cnh6.6315 - 100-DMA
*PRICE: Cnh6.6212 @ 2300GMT
*SUP 1: Cnh6.5926 - Low Dec 1
*SUP 2: Cnh6.5674 - Low Nov 24
*SUP 3: Cnh6.5568 - Low Oct 11
*SUP 4: Cnh6.5409 - Low Sept 18
*COMMENTARY: Hesitation around 21 (Cnh6.6171) & 55 (Cnh6.6233) DMAs continues
and is a concern for bulls with the pair remaining capped ahead of the 100-DMA.
Bulls still need a close above the 100-DMA to add support to the case for a move
back to the 200-DMA (Cnh6.7374) with above Cnh6.6904 needed to confirm. Bears
now need a close below Cnh6.5926 to ease pressure on the 100-DMA and reconfirm
focus on Cnh6.5568-5674 with a close below to target Cnh6.5033.
DOLLAR-PHP TECHS: Marginal Close Below 200-DMA
*RES 4: Php51.064 - 55-DMA 
*RES 3: Php51.030 - High Nov 20 
*RES 2: Php50.810 - High Dec 7 
*RES 1: Php50.762 - 21-DMA
*PRICE: Php50.500 @ 2300GMT
*SUP 1: Php50.440 - High Nov 29 now support 
*SUP 2: Php50.240 - Monthly Low Nov 29 
*SUP 3: Php50.140 - Monthly Low Aug 4 
*SUP 4: Php49.970 - Low June 20
*COMMENTARY: The 21-DMA capped the recovery from Nov lows with bears taking
comfort in the marginal close below the 200-DMA. bears now look for a close
below Php50.440 to confirm traction below the 200-DMA and initially pressure
Php49.970-50.140. Bulls now need a close above Php50.810 to ease bearish
pressure and shift initial focus to Php50.971-51.064.
DOLLAR-THB TECHS: Bounces Capped Ahead Of 21-DMA
*RES 4: Thb33.07 - High Nov 15 
*RES 3: Thb32.92 - High Nov 17 
*RES 2: Thb32.77 - High Nov 22 
*RES 1: Thb32.71 - 21-DMA
*PRICE: Thb32.58 @ 2300GMT
*SUP 1: Thb33.48 - 2017 Low Nov 29 
*SUP 2: Thb32.26 - 2015 Lows Feb 26 & Apr 17 & 20 2015 
*SUP 3: Thb32.19 - Monthly Low Oct 21 2014 
*SUP 4: Thb31.96 - Daily Bear channel base
*COMMENTARY: Repeated fresh 2017 lows added weight to the bearish case with
overall focus on tests of the bear channel base. O/S daily studies correcting
higher remain key concern for bears. In saying that, bulls need a close above
Thb32.77 to ease immediate bearish pressure and hint at a correction back to
Thb32.92-33.10 where 55 & 100-DMAs and LT bear channel top (Thb32.93) are
DOLLAR-IDR TECHS: Idr13490 & Idr13558 Levels Remain Key
*RES 4: Idr13640 - 2017 High Oct 27 
*RES 3: Idr13605 - High Oct 30 
*RES 2: Idr13558 - Low Nov 13 
*RES 1: Idr13557 - Bollinger band top
*PRICE: Idr13545 @ 2300GMT
*SUP 1: Idr13517 - 55-DMA 
*SUP 2: Idr13490 - Low Nov 7 
*SUP 3: Idr13455 - Low Oct 5 
*SUP 4: Idr13425 - 100-DMA
*COMMENTARY: The bullish close above the 21-DMA (Idr13527) Wednesday increased
bullish confidence but a close above Idr13558 remains needed to reconfirm focus
on Idr13605-640 where 2017 highs are situated. The 55-DMA remains initial
support but bears need a close below Idr13490 to confirm a break and below
Idr13455 to confirm focus on Idr13373-425 where 100 & 200-DMAs are situated.
Narrowing Bollinger bands are hinting at a breakout.
DOLLAR-INR TECHS: Bulls Need Close Above Inr64.6300
*RES 4: Inr65.1375 - Low Nov 16 now resistance 
*RES 3: Inr64.9134 - 55-DMA 
*RES 2: Inr64.7861 - 200-DMA 
*RES 1: Inr64.6300 - High Nov 30
*PRICE: Inr64.4450 @ 2300GMT
*SUP 1: Inr64.1749 - Daily Bear channel base 
*SUP 2: Inr64.0638 - Bollinger band base 
*SUP 3: Inr63.7750 - Monthly Low Sept 8 
*SUP 4: Inr63.5600 - 2017 Low Aug 3
*COMMENTARY: Failure to gain traction on pops above the LT falling TL
(Inr65.1934) off Nov 2016 highs in recent weeks saw a sell off that resulted in
tests of the daily bear channel base. A close below is needed to confirm focus
on 2017 lows. Bulls still need a close above Inr64.6300 to ease bearish pressure
and above the 55-DMA to shift focus to layers of resistance Inr65.1375-5425.
Correcting O/S daily studies remain a concern for bears.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: