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Free AccessMNI Dollar-Asia Morning FX Technical Analysis
9 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: Bulls Need Close Above Sgd1.3643
*RES 4: Sgd1.3756 - 55-DMA
*RES 3: Sgd1.3720 - High July 17
*RES 2: Sgd1.3643 - Hourly support July 20 now resistance
*RES 1: Sgd1.3632 - 21-DMA
*PRICE: Sgd1.3630 @ 2300GMT
*SUP 1: Sgd1.3585 - Low Aug 7
*SUP 2: Sgd1.3549 - Low Aug 4
*SUP 3: Sgd1.3536 - 2017 Low July 27
*SUP 4: Sgd1.3505 - Low Sept 22
*COMMENTARY: The lack of follow through on 2017 lows in past weeks has seen the
pair correct back to the 21-DMA. Bulls need a close above Sgd1.3643 to confirm a
break of the 21-DMA and a shift in focus to Sgd1.3720-87 where the 55-DMA is
situated. While the 21-DMA caps bears retain an advantage but now need a close
below Sgd1.3585 to ease pressure on the 21-DMA and retain focus on fresh 2017
lows and tests of the 200-WMA (Sgd1.3450).
DOLLAR-WON TECHS: 55-DMA Resistance Key
*RES 4: Krw1147.1 - Low July 4 now resistance
*RES 3: Krw1146.7 - 200-DMA
*RES 2: Krw1139.8 - High July 13
*RES 1: Krw1130.23- 55-DMA
*PRICE: Krw1125.1 @ 2300GMT
*SUP 1: Krw1123.0 - Low Aug 3
*SUP 2: Krw1114.3 - High July 27 now support
*SUP 3: Krw1110.5 - 2017 Low Mar 28
*SUP 4: Krw1107.0 - Low Oct 10
*COMMENTARY: Bears take comfort in hesitation ahead of key DMAs with bulls
needing a close above the 55-DMA to confirm a shift in focus to Krw1139.8-1147.1
where the 200-DMA is located. Initial support is noted at Krw1123.0 with bears
needing a close below to ease pressure on key DMAs and shift focus back to tests
of 2017 lows. Daily studies approaching O/B are the key concern for bulls.
DOLLAR-MYR TECHS: Myr4.2980-3087 Resistance Key
*RES 4: Myr4.3270 - High June 28
*RES 3: Myr4.3087 - High July 10
*RES 2: Myr4.2996 - Bollinger band top
*RES 1: Myr4.2980 - High July 21
*PRICE: Myr4.2850 @ 2100GMT
*SUP 1: Myr4.2690 - 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 initially targets tests of the 100-DMA
(Myr4.3294). 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: Bears Focused On 100-WMA
*RES 4: Cnh6.7483 - High July 28
*RES 3: Cnh6.7446 - 21-DMA
*RES 2: Cnh6.7377 - High July 31
*RES 1: Cnh6.7154 - Low Aug 1 now resistance
*PRICE: Cnh6.7092 @ 2300GMT
*SUP 1: Cnh6.7049 - Bollinger band base
*SUP 2: Cnh6.7010 - 2017 Low Aug 8
*SUP 3: Cnh6.6879 - Low Oct 5
*SUP 4: Cnh6.6777 - 100-WMA
*COMMENTARY: Bears reconfirmed focus on tests of the 100-WMA with fresh 2017 &
10mth lows that leave the pair looking heavy. The Bollinger base is the key
concern for bears and currently limits follow through. Bulls now need a close
above Cnh6.7154 to ease immediate bearish pressure and above Cnh6.7483 to
confirm a break of the 21-DMA and a shift in focus back to Cnh6.7725-7895 where
the 55-DMA (Cnh6.7796) is situated.
DOLLAR-PHP TECHS: Bulls Need Close Above 21-DMA
*RES 4: Php50.840 - High July 25
*RES 3: Php50.730 - High July 26
*RES 2: Php50.560 - 21-DMA
*RES 1: Php50.485 - High Aug 2
*PRICE: Php50.440 @ 2300GMT
*SUP 1: Php50.250 - Low Aug 7
*SUP 2: Php50.180 - Bollinger band base
*SUP 3: Php50.140 - Low Aug 4
*SUP 4: Php50.101 - 100-DMA
*COMMENTARY: The correction lower from 2017 highs found support ahead of the
100-DMA with daily studies correcting from O/S adding support to the bullish
case. Bulls continue to look for a close above the 21-DMA to end bearish hopes
and shift focus back to tests of Php50.840-950 where 2017 highs are located.
Bears now need a close below the 100-DMA to confirm a bearish bias and shift
focus to Php49.770-855 where the 200-DMA is situated.
DOLLAR-THB TECHS: Above Thb33.41 To Gain Breathing Room
*RES 4: Thb33.70 - High July 20
*RES 3: Thb33.53 - High July 26
*RES 2: Thb33.45 - 21-DMA
*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: Thb33.03 - 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
Thb33.53 to hint at a correction back to Thb33.80-88 where the 55-DMA is
located. Bears 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: Idr13323 - 55-DMA
*PRICE: Idr13323 @ 2300GMT
*SUP 1: Idr13295 - Low July 19
*SUP 2: Idr13289 - 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 breaks of 21 & 55-DMAs 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.