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Free AccessMNI 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]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.