MNI Dollar-Asia Morning FX Technical Analysis

11 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: Hesitating Around 21-DMA

*RES 4: Sgd1.3748 - 55-DMA 

*RES 3: Sgd1.3720 - High July 17 

*RES 2: Sgd1.3705 - Bollinger band top 

*RES 1: Sgd1.3654 - High Aug 10

*PRICE: Sgd1.3630 @ 2300GMT

*SUP 1: Sgd1.3612 - Low Aug 10 

*SUP 2: Sgd1.3585 - Low Aug 7 

*SUP 3: Sgd1.3549 - Low Aug 4 

*SUP 4: Sgd1.3536 - 2017 Low July 27

*COMMENTARY: Hesitation around the 21-DMA (Sgd1.3621) is a concern for bulls who

now need a close above $1.3654 to confirm a break of the 21-DMA and a shift in

focus to Sgd1.3720-87 where the 55-DMA is situated. While Sgd1.3654 caps bears

retain an advantage but still need a close below Sgd1.3585 to ease bullish

pressure and retain focus on fresh 2017 lows and tests of the 200-WMA

(Sgd1.3450).

DOLLAR-WON TECHS: Pressuring 200-DMA

*RES 4: Krw1157.9 - Monthly High July 6

*RES 3: Krw1154.3 - Low July 7 now resistance

*RES 2: Krw1147.1 - Low July 4 now resistance

*RES 1: Krw1146.8 - 200-DMA

*PRICE: Krw1142.0 @ 2300GMT

*SUP 1: Krw1137.5 - High Aug 9 now support

*SUP 2: Krw1129.4 - 100-DMA

*SUP 3: Krw1123.0 - Low Aug 3

*SUP 4: Krw1114.3 - High July 27 now support

*COMMENTARY: Gains continue for the pair with immediate focus now on

Krw1146.8-1147.1 where the 200-DMA is located. Bulls need a close above this

region to confirm focus on Krw1157.8-1161.0 where monthly highs are situated.

The Bollinger top (Krw1139.3) is the key concern for bulls with potential to

limit follow through. Bears now need a close below Krw1137.5 to ease immediate

bullish pressure and below Krw1123.0 to shift focus back to 2017 lows.

DOLLAR-MYR TECHS: Bulls Need Close Above Myr4.3087

*RES 4: Myr4.3270 - High June 28 

*RES 3: Myr4.3250 - 100-DMA 

*RES 2: Myr4.3087 - High July 10 

*RES 1: Myr4.2981 - Bollinger band top

*PRICE: Myr4.2945 @ 2100GMT

*SUP 1: Myr4.2777 - Daily bull channel base 

*SUP 2: Myr4.2720 - Low July 27 

*SUP 3: Myr4.2696 - Bollinger band base 

*SUP 4: Myr4.2664 - Low July 19

*COMMENTARY: Hesitation ahead of the Myr4.3087 resistance is less than ideal for

bulls who look for a close above this level to shift immediate focus to

Myr4.3250-3270 where the 100-DMA is situated. Layers of support remain with

bears now needing a close below the bull channel base to see pressure return to

Myr4.2664-2720. Overall below Myr4.2664 is needed to confirm focus on 2017 lows.

DOLLAR-CNH TECHS: Looking For Weekly Close Below 100-WMA

*RES 4: Cnh6.7325 - 21-DMA 

*RES 3: Cnh6.7154 - Low Aug 1 now resistance 

*RES 2: Cnh6.7010 - Low Aug 8 now resistance 

*RES 1: Cnh6.6879 - Low Oct 5 now resistance

*PRICE: Cnh6.6672 @ 2300GMT

*SUP 1: Cnh6.6633 - Low Sept 20 

*SUP 2: Cnh6.6413 - Monthly Low Sept 16 

*SUP 3: Cnh6.6216 - Low July 29 2016 

*SUP 4: Cnh6.6152 - High June 15 2016 now support

*COMMENTARY: Bears now look for a weekly close below the 100-WMA(Cnh6.773) to

confirm a break and focus on layers of support Cnh6.6152-6413. The last weekly

close below the 100-WMA was seen in late Nov 2014. Fresh 2017 and 10mth lows

continue with the Bollinger base (Cnh6.6774) the key concern for bears with

potential to limit follow through. Bulls now need a close above Cnh6.7010 to

ease immediate bearish pressure.

DOLLAR-PHP TECHS: Bears Need Close Below Php50.485

*RES 4: Php51.090 - Low Aug 17 2006 

*RES 3: Php50.965 - Bollinger band top 

*RES 2: Php50.950 - 2017 High July 20 

*RES 1: Php50.840 - High July 25

*PRICE: Php50.795 @ 2300GMT

*SUP 1: Php50.680 - High Aug 9 now support 

*SUP 2: Php50.550 - Low Aug 9 

*SUP 3: Php50.485 - High Aug 2 now support 

*SUP 4: Php50.250 - Low Aug 7

*COMMENTARY: The close above the 21-DMA Wednesday has been followed up with

gains that sees bulls focused on Php50.840-950 where 2017 highs are situated.

Bulls need a close above 2017 highs to reconfirm a bullish bias and shift focus

to Php51.090-600. Layers of support are accumulating with bears now needing a

close below Php50.485 to confirm an easing of bullish pressure and see focus

return to Php50.108-250 where 55 & 100-DMAs are 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: Thb33.41 - High July 27 

*RES 1: Thb33.38 - 21-DMA

*PRICE: Thb33.23 @ 2300GMT

*SUP 1: Thb33.18 - 2017 Low Aug 10 

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

*SUP 3: Thb33.08 - 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 around recent 2017 lows a concern. In saying

that, bulls now need a close above Thb33.41 to gain breathing room and above

Thb33.53 to hint at a correction back to Thb33.70-88 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: Topside Follow Through Lacking

*RES 4: Idr13410 - High July 7 & 10 

*RES 3: Idr13380 - Low July 11 now resistance 

*RES 2: Idr13350 - High Aug 10 

*RES 1: Idr13340 - 200-DMA

*PRICE: Idr13333 @ 2300GMT

*SUP 1: Idr13304 - Bollinger band base 

*SUP 2: Idr13295 - Low July 19 

*SUP 3: Idr13270 - Low Apr 26 

*SUP 4: Idr13245 - 2017 Low Apr 13

*COMMENTARY: The lack of follow through on the pop above the 200-DMA is less

than ideal for bulls who now need a close above Idr13350 to confirm focus on

tests of Idr13380-415 where 2017 highs are located. 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. Narrowing Bollinger

bands are suggestive of a break out in the near future.

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

[TOPICS: MTABLE]