MNI Dollar-Asia Morning FX Technical Analysis

31 July 2017

By Kyle Shortland

Please click on this link to access MNI's daily Dollar-Asia FX Technical

Analysis Pdf http://tinyurl.com/pzkomnu

DOLLAR-SING TECHS: Sgd1.3643 Resistance Remains Key

*RES 4: Sgd1.3787 - High July 13 

*RES 3: Sgd1.3720 - High July 17 

*RES 2: Sgd1.3706 - 21-DMA 

*RES 1: Sgd1.3643 - Hourly support July 20 now resistance

*PRICE: Sgd1.3578 @ 2300GMT

*SUP 1: Sgd1.3536 - 2017 Low July 27 

*SUP 2: Sgd1.3513 - Bollinger band base 

*SUP 3: Sgd1.3505 - Low Sept 22 

*SUP 4: Sgd1.3430 - Monthly Low Sept 7

*COMMENTARY: Fresh 2017 lows continued last week although the lack of follow

through is less than ideal given daily studies correcting from O/S and daily

momentum divergence. In saying that, bulls still need a close above Sgd1.36643

to confirm an easing of bearish pressure and shift focus back to Sgd1.3706-20

where the 21-DMA is located. While Sgd1.3643 caps bears remain focused on tests

of the 200-WMA (Sgd1.3444).

DOLLAR-WON TECHS: Above Krw1122.5 To Ease Bearish Pressure

*RES 4: Krw1131.3 - 100-DMA

*RES 3: Krw1130.0 - 55-DMA

*RES 2: Krw1126.6 - Low July 17 now resistance

*RES 1: Krw1122.5 - High July 26

*PRICE: Krw1122.1 @ 2300GMT

*SUP 1: Krw1114.3 - High July 27 now support

*SUP 2: Krw1110.5 - 2017 Low Mar 28

*SUP 3: Krw1107.0 - Low Oct 10

*SUP 4: Krw1104.8 - Bollinger band base

*COMMENTARY: Correcting O/S daily studies appear to be impacting with bears

failing to make fresh 2017 lows and the pair bouncing to end the week. Bulls

continue to look for a close above Krw1122.5 to confirm an easing of bearish

pressure and above the 21-DMA (Krw1134.3) to hint at a move back to the 200-DMA

(Krw1146.9). While key DMAs cap overall bearish focus remains on fresh 2017

lows.

DOLLAR-MYR TECHS: Bears Focused On Myr4.2380-4.2465

*RES 4: Myr4.3087 - High July 10 

*RES 3: Myr4.3075 - Bollinger band top 

*RES 2: Myr4.2891 - 21-DMA 

*RES 1: Myr4.2874 - 55-DMA

*PRICE: Myr4.2812 @ 2100GMT

*SUP 1: Myr4.2708 - Bollinger band base 

*SUP 2: Myr4.2664 - Low July 19 

*SUP 3: Myr4.2465 - 2017 Low June 20 

*SUP 4: Myr4.2440 - Low Nov 10

*COMMENTARY: Follow through has been lacking on pops above 21 & 55-DMAs in

recent weeks which is a concern for bulls who need a close above Myr4.3087 to

hint at a move that tests 100 (Myr4.3395) & 200 (Myr4.3665) DMAs. Until closes

above 21 & 55-DMAs gain traction bears retain the upper hand and remain focused

on tests of Myr4.2380-4.2465 where 2017 lows are located.

DOLLAR-CNH TECHS: Bulls Need Close Above Cnh6.7725

*RES 4: Cnh6.7895 - Low July 5 now resistance 

*RES 3: Cnh6.7725 - Low July 3 now resistance 

*RES 2: Cnh6.7706 - 21-DMA 

*RES 1: Cnh6.7598 - High July 26

*PRICE: Cnh6.7348 @ 2300GMT

*SUP 1: Cnh6.7229 - 2017 Low June 1 

*SUP 2: Cnh6.7211 - Bollinger band base 

*SUP 3: Cnh6.7164 - Low Oct 12 

*SUP 4: Cnh6.6747 - 100-WMA

*COMMENTARY: The bounce from ahead of the 2017 low is a concern for bears who

look for a close below Cnh6.7229 to confirm focus on tests of the 100-WMA. Daily

studies looking to correct from O/S remain the key concern for bears. In saying

that, bulls now look for a close above Cnh6.7725 to confirm a break of the

21-DMA, easing bearish pressure, and above Cnh6.7895 to shift immediate focus to

the 55-DMA (Cnh6.7990).

DOLLAR-PHP TECHS: Bears Need Close Below Php50.330

*RES 4: Php50.875 - Bollinger band top 

*RES 3: Php50.840 - High July 25 

*RES 2: Php50.730 - High July 26 

*RES 1: Php50.637 - 21-DMA

*PRICE: Php50.570 @ 2300GMT

*SUP 1: Php50.480 - Low July 26 & 27 

*SUP 2: Php50.400 - Low July 13 

*SUP 3: Php50.330 - Low June 30 

*SUP 4: Php50.160 - Low June 21

*COMMENTARY: Recent 2017 highs have lacked follow through with the correction

seeing the pair gaining traction below the 21-DMA. Bears continue to look for a

close below Php50.330 to shift focus back to Php50.102-160 where 55 & 100-DMAs

are situated. Bulls continue to look for a close above the 21-DMA to ease

bearish pressure and above Php50.840 to shift focus back to tests of 2017 highs.

DOLLAR-THB TECHS: Bulls Need Close Above Thb33.53

*RES 4: Thb33.72 - 21-DMA 

*RES 3: Thb33.70 - High July 20 

*RES 2: Thb33.53 - High July 26 

*RES 1: Thb33.41 - High July 27

*PRICE: Thb33.36 @ 2300GMT

*SUP 1: Thb33.25 - 2017 Low July 27 

*SUP 2: Thb33.15 - Bollinger band base 

*SUP 3: Thb33.13 - Low May 5 2015 

*SUP 4: Thb32.98 - Monthly Low May 1 2015

*COMMENTARY: Consolidation below the 200-WMA (Thb33.94) is adding weight to the

bearish case with fresh 2017 and 2+ year lows continuing. Very O/S daily studies

and the Bollinger base remain key concerns for bears In saying that, bulls still

need a close above Thb33.53 to ease immediate bearish pressure and shift focus

to Thb33.70-94 where 21 & 55-DMAs are situated.

DOLLAR-IDR TECHS: Idr13295 & Idr13348 Levels Remain Key

*RES 4: Idr13410 - High July 7 & 10 

*RES 3: Idr13380 - Low July 11 now resistance 

*RES 2: Idr13348 - High July 13 

*RES 1: Idr13345 - 21-DMA

*PRICE: Idr13326 @ 2300GMT

*SUP 1: Idr13295 - Low July 19 

*SUP 2: Idr13286 - Bollinger band base 

*SUP 3: Idr13270 - Low Apr 26 

*SUP 4: Idr13245 - 2017 Low Apr 13

*COMMENTARY: Sideways trading within a Idr13270-13348 range continues with bulls

needing a close above Idr13348 to confirm a break of the 21-DMA and shift focus

back to Idr13380-13415. Bears continue to look for a close below Idr13295 to

gain traction below Key DMAs and shift focus back to Idr13245-13270 where 2017

and monthly lows are located.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]