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Free AccessMNI Dollar-Asia Morning FX Technical Analysis
3 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: Increased Risk Of Correction Higher
*RES 4: Sgd1.3720 - High July 17
*RES 3: Sgd1.3671 - 21-DMA
*RES 2: Sgd1.3643 - Hourly support July 20 now resistance
*RES 1: Sgd1.3614 - High July 28
*PRICE: Sgd1.3590 @ 2300GMT
*SUP 1: Sgd1.3565 - Low Aug 2
*SUP 2: Sgd1.3536 - 2017 Low July 27
*SUP 3: Sgd1.3505 - Low Sept 22
*SUP 4: Sgd1.3483 - Bollinger band base
*COMMENTARY: Support layers emerging on dips and a lack of follow through on
recent 2017 lows is a concern for bears and hints at a correction back to
Sgd1.3643-71 where the 21-DMA is located. Bears now need a close below Sgd1.3536
to reconfirm a bearish bias and target the 200-WMA (Sgd1.3444). Bulls continue
to look for a close above the 21-DMA to hint at a move back to Sgd1.3773-87 with
above Sgd1.3720 to confirm.
DOLLAR-WON TECHS: Bulls Need Close Above 21-DMA
*RES 4: Krw1130.6 - 21-DMA
*RES 3: Krw1130.4 - 100-DMA
*RES 2: Krw1130.0 - 55-DMA
*RES 1: Krw1126.6 - Low July 17 now resistance
*PRICE: Krw1124.0 @ 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: Krw1102.1 - Bollinger band base
*COMMENTARY: The Krw1126.6-1130.6 resistance region where key DMAs are situated
remains key with bulls needing a close above the 21-DMA to confirm an easing of
bearish pressure and shift focus to Krw1139.8-1147.1 where the 200-DMA
(Krw1146.8) is located. While Krw1126.6-1130.6 caps bears retain the advantage
but need a close below Krw1114.3 to ease pressure on Krw1126.6 and target a
break of 2017 lows.
DOLLAR-MYR TECHS: Myr4.2980-3087 Resistance Key
*RES 4: Myr4.3270 - High June 28
*RES 3: Myr4.3087 - High July 10
*RES 2: Myr4.3049 - Bollinger band top
*RES 1: Myr4.2980 - High July 21
*PRICE: Myr4.2840 @ 2100GMT
*SUP 1: Myr4.2693 - 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 this week which is a concern for bulls who need a close
above Myr4.3087 to hint at a move that tests 100 (Myr4.3344) & 200 (Myr4.3675)
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: Cnh6.7725 - Low July 3 now resistance
*RES 3: Cnh6.7598 - High July 26, 21-DMA
*RES 2: Cnh6.7483 - High July 28
*RES 1: Cnh6.7377 - High July 31
*PRICE: Cnh6.7270 @ 2300GMT
*SUP 1: Cnh6.7153 - 2017 Low Aug 1
*SUP 2: Cnh6.7085 - 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 need a close above Cnh6.7377
to gain breathing room and above Cnh6.7483 to shift focus back to Cnh6.7598
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: Php50.622 - 21-DMA
*RES 1: Php50.485 - High Aug 2
*PRICE: Php50.370 @ 2300GMT
*SUP 1: Php50.360 - Low Aug 1
*SUP 2: Php50.330 - Low June 30
*SUP 3: Php50.179 - 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 Php50.103-179 where
55 & 100-DMAs are situated. Bulls now look for a close above Php50.485 to gain
breathing room and above the 21-DMA to shift focus back to Php50.840-950 where
2017 highs are located.
DOLLAR-THB TECHS: Above Thb33.41 To Gain Breathing Room
*RES 4: Thb33.70 - High July 20
*RES 3: Thb33.61 - 21-DMA
*RES 2: Thb33.53 - High July 26
*RES 1: Thb33.41 - High July 27
*PRICE: Thb33.25 @ 2300GMT
*SUP 1: Thb33.20 - 2017 Low Aug 1
*SUP 2: Thb33.13 - Low May 5 2015
*SUP 3: Thb33.01 - Bollinger band base
*SUP 4: Thb32.98 - Monthly Low May 1 2015
*COMMENTARY: Daily studies looking to correct from O/S remain the key concern
for bears which makes hesitation ahead of recent 2017 lows a concern. In saying
that, bulls still need a close above Thb33.41 to gain breathing room and above
the 21-DMA to hint at a correction back to Thb33.88 where the 55-DMA is located.
Bears now need a close below Thb33.13 to reconfirm the bearish bias and
initially target May 2015 monthly lows.
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: Idr13341 - 21-DMA
*PRICE: Idr13323 @ 2300GMT
*SUP 1: Idr13295 - Low July 19
*SUP 2: Idr13282 - 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.