MNI Dollar-Asia Morning FX Technical Analysis

2 August 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: Sgd1.3581-1.3643 Resistance Remains Key

*RES 4: Sgd1.3720 - High July 17 

*RES 3: Sgd1.3681 - 21-DMA 

*RES 2: Sgd1.3643 - Hourly support July 20 now resistance 

*RES 1: Sgd1.3581 - High July 31

*PRICE: Sgd1.3576 @ 2300GMT

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

*SUP 2: Sgd1.3505 - Low Sept 22 

*SUP 3: Sgd1.3487 - Bollinger band base 

*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 Sgd1.3581 to

gain breathing room and above Sgd1.3643 to shift focus back to Sgd1.3681-1.3720

where the 21-DMA is located. While Sgd1.3581 caps bears remain focused on tests

of the 200-WMA (Sgd1.3444).

DOLLAR-WON TECHS: Bulls Need Close Above 21-DMA

*RES 4: Krw1131.9 - 21-DMA

*RES 3: Krw1130.7 - 100-DMA

*RES 2: Krw1129.8 - 55-DMA

*RES 1: Krw1126.6 - Low July 17 now resistance

*PRICE: Krw1121.3 @ 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: Krw1102.3 - Bollinger band base

*COMMENTARY: The recovery from last week's low looks to be in trouble with the

pair capped ahead of key DMAs Krw1129.8-1131.9. Bulls still need a close above

the 21-DMA to confirm an easing of bearish pressure and to shift immediate focus

to Krw1139.8. While the DMAs cap overall focus remains bearish with immediate

focus on 2017 lows. Daily studies correcting from O/S remain the key concern for

bears.

DOLLAR-MYR TECHS: Myr4.2980-3087 Resistance Key

*RES 4: Myr4.3270 - High June 28 

*RES 3: Myr4.3087 - High July 10 

*RES 2: Myr4.3061 - Bollinger band top 

*RES 1: Myr4.2980 - High July 21

*PRICE: Myr4.2831 @ 2100GMT

*SUP 1: Myr4.2694 - 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 and again on Monday which is a concern for bulls who need a close

above Myr4.3087 to hint at a move that tests 100 (Myr4.3361) & 200 (Myr4.3672)

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 Cnh6.7377

*RES 4: Cnh6.7633 - 21-DMA 

*RES 3: Cnh6.7598 - High July 26 

*RES 2: Cnh6.7483 - High July 28 

*RES 1: Cnh6.7377 - High July 31

*PRICE: Cnh6.7282 @ 2300GMT

*SUP 1: Cnh6.7153 - 2017 Low Aug 1 

*SUP 2: Cnh6.7113 - Bollinger band base 

*SUP 3: Cnh6.6879 - Low Oct 5 

*SUP 4: Cnh6.6746 - 100-WMA

*COMMENTARY: Fresh 2017 and 10mth lows lacked follow through Tuesday which is a

concern for bears given the proximity of the Bollinger base and daily studies

looking to correct from modestly O/S levels. Bulls now need a close above

Cnh6.7377 to gain breathing room and above Cnh6.7483 to shift focus back to

Cnh6.7598-7725 where the 21-DMA is located. While Cnh6.7377 caps bears focus on

tests of the 100-WMA. A close below the 100-WMA was last seen in Nov 2014.

DOLLAR-PHP TECHS: Php50.330 Support Remains Key

*RES 4: Php50.840 - High July 25 

*RES 3: Php50.730 - High July 26 

*RES 2: Php50.637 - 21-DMA 

*RES 1: Php50.480 - Lows July 26 & 27 now resistance

*PRICE: Php50.370 @ 2300GMT

*SUP 1: Php50.366 - Bollinger band base 

*SUP 2: Php50.330 - Low June 30 

*SUP 3: Php50.166 - 55-DMA 

*SUP 4: Php50.160 - Low June 21

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

the pair gaining traction below the 21-DMA and remaining heavy. Bears continue

to look for a close below Php50.330 to shift focus back to Php50.102-166 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: Thb33.41-53 Resistance Region Key

*RES 4: Thb33.70 - High July 20 

*RES 3: Thb33.68 - 21-DMA 

*RES 2: Thb33.53 - High July 26 

*RES 1: Thb33.41 - High July 27

*PRICE: Thb33.26 @ 2300GMT

*SUP 1: Thb33.20 - 2017 Low Aug 1 

*SUP 2: Thb33.13 - Low May 5 2015 

*SUP 3: Thb33.05 - Bollinger band base 

*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 Thb33.41 to ease immediate bearish pressure and above

Thb33.53 to shift immediate focus to Thb33.64-90 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: Idr13343 - 21-DMA

*PRICE: Idr13323 @ 2300GMT

*SUP 1: Idr13295 - Low July 19 

*SUP 2: Idr13284 - 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]