MNI Dollar-Asia Morning FX Technical Analysis

16 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: Sgd1.3615-54 Support Region Key

*RES 4: Sgd1.3737 - 55-DMA 

*RES 3: Sgd1.3720 - High July 17 

*RES 2: Sgd1.3688 - High Aug 15 

*RES 1: Sgd1.3686 - Bollinger band top

*PRICE: Sgd1.3669 @ 2300GMT

*SUP 1: Sgd1.3654 - High Aug 10 now support 

*SUP 2: Sgd1.3615 - 21-DMA 

*SUP 3: Sgd1.3582 - Low Aug 14 

*SUP 4: Sgd1.3549 - Low Aug 4

*COMMENTARY: The close above Sgd1.3654 sees bulls gain the upper hand and

immediate focus now on Sgd1.3720-37 where the 55-DMA is situated. Bulls now need

a close above the 55-DMA to confirm focus on Sgd1.3787-1.3863 where the daily

bear channel top (Sgd1.3817) and the 100-DMA (Sgd1.3838) are situated Bears now

need a close below Sgd1.3654 to ease bullish pressure and below the 21-DMA to

shift focus back to 2017 lows.

DOLLAR-WON TECHS: Lacked Follow Through Above 200-DMA

*RES 4: Krw1154.3 - Low July 7 now resistance

*RES 3: Krw1148.1 - High Aug 11

*RES 2: Krw1146.9 - 200-DMA

*RES 1: Krw1140.5 - High Aug 14

*PRICE: Krw1139.7 @ 2300GMT

*SUP 1: Krw1136.1 - Low Aug 14

*SUP 2: Krw1129.8 - 100-DMA

*SUP 3: Krw1123.0 - Low Aug 3

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

*COMMENTARY: Bears took comfort in the lack of follow through on the pop above

the 200-DMA Friday which leaves the Krw1123.0-1131.6 support region where DMAs

are located as key. Bears need a close below Krw1123.0 to confirm a return in

focus to 2017 lows. Bulls now look for a close above Krw1148.1 to confirm a

break of the 200-DMA and to shift initial focus to Krw1157.8-1161.0 where

monthly highs are situated. O/B daily studies are the key concern for bulls.

DOLLAR-MYR TECHS: Follow Through Still Absent

*RES 4: Myr4.3270 - High June 28 

*RES 3: Myr4.3211 - 100-DMA 

*RES 2: Myr4.3112 - High Aug 16 

*RES 1: Myr4.2976 - Bollinger band top

*PRICE: Myr4.2941 @ 2100GMT

*SUP 1: Myr4.2839 - 21-DMA 

*SUP 2: Myr4.2700 - Low Aug 11, Bollinger band base 

*SUP 3: Myr4.2664 - Low July 19 

*SUP 4: Myr4.2465 - 2017 Low June 20

*COMMENTARY: Follow through remains lacking on spikes and dips with the pair

gravitating back towards the Myr4.2900-30 region each time. Bears continue to

look for a close below Myr4.2664 to shift initial focus to Myr4.2380-2440. Bulls

now need a close above Myr4.3270 to confirm a break of the 100-DMA and shift

focus to Myr4.3520-3850 where the 200-DMA (Myr4.3724).

DOLLAR-CNH TECHS: Support Layers Building

*RES 4: Cnh6.7676 - 55-DMA 

*RES 3: Cnh6.7377 - High July 31 

*RES 2: Cnh6.7234 - 21-DMA 

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

*PRICE: Cnh6.6883 @ 2300GMT

*SUP 1: Cnh6.6831 - Low Aug 15 

*SUP 2: Cnh6.6685 - Low Aug 14 

*SUP 3: Cnh6.6567 - 2017 Low Aug 11 

*SUP 4: Cnh6.6413 - Monthly Low Sept 16

*COMMENTARY: Bears have so far failed to capitalise on the weekly close

marginally below the 100-WMA (Cnh6.6803) with daily studies correcting from O/S

and the Bollinger base (Cnh6.6676) limiting follow through key concerns for

bears. Bulls take comfort in support layers emerging and now look for a close

below Cnh6.6831 to reconfirm initial focus on 2017 lows. Bulls now look for a

close above the 21-DMA to add support to their case.

DOLLAR-PHP TECHS: Php50.840-51.090 Support Region Key

*RES 4: Php51.700 - High Aug 3 2006 

*RES 3: Php51.600 - High Aug 24 2006 

*RES 2: Php51.384 - Daily Bull channel top 

*RES 1: Php51.340 - 2017 High Aug 15

*PRICE: Php51.080 @ 2300GMT

*SUP 1: Php51.090 - Alternating daily support/resistance 

*SUP 2: Php50.900 - Lows Aug 11 & 14 

*SUP 3: Php50.840 - High July 25 now support 

*SUP 4: Php50.680 - High Aug 9 now support

*COMMENTARY: The close above the 21-DMA Wednesday has resulted in fresh 2017 and

11 year highs with bulls now focused on Php51.384-600 where the daily bull

channel top is located. The Bollinger top is the key concern for bulls with

potential to limit follow through. Initial support is now noted at Php51.090

with bears needing a close below to ease immediate bullish pressure and below

Php50.840 to shift focus back to Php50.485-680 where the 21-DMA is noted.

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: Thb33.33 - 21-DMA

*PRICE: Thb33.28 @ 2300GMT

*SUP 1: Thb33.14 - 2017 Low Aug 11 

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

*SUP 3: Thb33.11 - 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 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 (Thb33.72)

is located. Bears need a close below Thb33.13 to reconfirm the bearish bias and

initially target May 2015 monthly lows.

DOLLAR-IDR TECHS: Bears Need Close Below 21-DMA

*RES 4: Idr13415 - High May 19 

*RES 3: Idr13410 - High July 7 & 10 

*RES 2: Idr13387 - 100-WMA 

*RES 1: Idr13380 - Low July 11 now resistance

*PRICE: Idr13347 @ 2300GMT

*SUP 1: Idr13326 - 21-DMA 

*SUP 2: Idr13298 - Bollinger band base 

*SUP 3: Idr13295 - Low July 19 

*SUP 4: Idr13270 - Low Apr 26

*COMMENTARY: Narrowing Bollinger bands suggested a breakout with a spike back

towards Idr13380 seen only to lack topside follow through once more. The 21-DMA

remains initial support with bears looking for a close below to return focus to

Idr13295. While the 21-DMA supports bulls focus on Idr13415 but need a close

above Idr13380 to add support to their case.

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

[TOPICS: MTABLE]