MNI Dollar-Asia Morning FX Technical Analysis

22 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: Looking Heavy Again

*RES 4: Sgd1.3720 - High July 17 

*RES 3: Sgd1.3688 - High Aug 15 

*RES 2: Sgd1.3670 - Bollinger band top 

*RES 1: Sgd1.3638 - High Aug 21

*PRICE: Sgd1.3603 @ 2300GMT

*SUP 1: Sgd1.3582 - Low Aug 14 

*SUP 2: Sgd1.3549 - Low Aug 4 

*SUP 3: Sgd1.3548 - Bollinger band base 

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

*COMMENTARY: Pressure on the 21-DMA (Sgd1.3609) has taken its toll with a close

below that shifts initial focus back to Sgd1.3582 and overall focus back to

tests of 2017 lows. Narrowing Bollinger bands are suggestive of a break out in

the near future. Bulls now need a close above Sgd1.3638 to gain breathing room

and above Sgd1.3688 to pressure the 55-DMA. Bulls continue to look for a close

above the 55-DMA to shift focus to the bear channel top (Sgd1.3799).

DOLLAR-WON TECHS: Bulls Need Close Above Krw1148.1

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

*RES 3: Krw1148.1 - High Aug 11

*RES 2: Krw1146.9 - 200-DMA

*RES 1: Krw1144.1 - High Aug 18

*PRICE: Krw1139.0 @ 2300GMT

*SUP 1: Krw1134.1 - Low Aug 17

*SUP 2: Krw1132.9 - 55-DMA

*SUP 3: Krw1130.5 - 100-DMA

*SUP 4: Krw1128.3 - 21-DMA

*COMMENTARY: Support emerging ahead of key DMAs saw the pair bounce back towards

Krw1148.1. Bulls need a close above this level to confirm a break of the 200-DMA

and a shift in focus to Krw1157.8-1161.0 where monthly highs are situated. Bears

now look for a close below the 55-DMA to hint at a move back to 2017 lows with a

close below Krw1123.0 needed to confirm. Daily studies at O/B levels and the

Bollinger top (Krw1148.3) remain key concerns for bulls.

DOLLAR-MYR TECHS: Pressure Returns To 55-DMA

*RES 4: Myr4.3270 - High June 28 

*RES 3: Myr4.3161 - 100-DMA 

*RES 2: Myr4.3112 - High Aug 16 

*RES 1: Myr4.2995 - Bollinger band top

*PRICE: Myr4.2865 @ 2300GMT

*SUP 1: Myr4.2854 - 55-DMA 

*SUP 2: Myr4.2700 - Low Aug 11 

*SUP 3: Myr4.2664 - Low July 19 

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

*COMMENTARY: Broad sideways trading Myr4.2465-3270 continues with bulls

currently focused on Myr4.3112-3270. Bulls need a close above this region to

confirm a break of the 100-DMA and focus shift to Myr4.3520-3850 where the

200-DMA (Myr4.3745) is located. Bears look for a close below the 55-DMA to see

immediate pressure return to Myr4.2664-00. The Bollinger top remains the key

concern for bulls.

DOLLAR-CNH TECHS: Bears Focused On Cnh6.6413

*RES 4: Cnh6.7377 - High July 31 

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

*RES 2: Cnh6.7124 - 21-DMA 

*RES 1: Cnh6.6886 - High Aug 17

*PRICE: Cnh6.6714 @ 2300GMT

*SUP 1: Cnh6.6685 - Low Aug 14 

*SUP 2: Cnh6.6567 - 2017 Low Aug 11 

*SUP 3: Cnh6.6512 - Bollinger band base 

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

*COMMENTARY: The recovery from 2017 lows has stalled around the bear channel top

with the close below Cnh6.6831 leaving the pair looking a little heavy.

Cnh6.7154 is now key resistance with bulls needing a close above to confirm an

easing of bearish pressure and above Cnh6.7483 to target the 55-DMA (Cnh6.7611).

While Cnh6.7154 caps bears retain the advantage and initially target Cnh6.6413.

DOLLAR-PHP TECHS: Bears Need Close Below Php51.090

*RES 4: Php52.560 - Low July 18 2006 now resistance 

*RES 3: Php52.085 - Monthly Low July 10 2006 now resistance 

*RES 2: Php51.700 - High Aug 3 2006 

*RES 1: Php51.630 - 2017 High Aug 18

*PRICE: Php51.490 @ 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 lack of follow through on Friday's 2017 and 11year highs is

less than ideal for bulls given the move looking a little overbought and the

Bollinger top (Php51.492) limiting follow through. The Php51.090 support remains

key with bears looking for a close below to ease bullish pressure and shift

focus back to Php50.680. Bulls still need a close above Php51.700 to confirm

focus on Php52.085-560 last seen in July 2006.

DOLLAR-THB TECHS: 21-DMA Continues To Cap

*RES 4: Thb33.70 - High July 20 

*RES 3: Thb33.53 - High July 26 

*RES 2: Thb33.41 - High July 27 

*RES 1: Thb33.28 - 21-DMA

*PRICE: Thb33.24 @ 2300GMT

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

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

*SUP 3: Thb32.98 - Monthly Low May 1 2015 

*SUP 4: Thb32.74 - High Apr 27 now support

*COMMENTARY: The 21-DMA continues to cap with bulls still needing a close above

Thb33.41 to gain breathing room and above Thb33.53 to target a correction back

to Thb33.66-88 where the 55-DMA (Thb33.68) is located. Bears continue to look

for a close below Thb33.13 to reconfirm the bearish bias and initially target

May 2015 monthly lows and then Thb32.74. Narrowing Bollinger bands suggest a

breakout in the near future.

DOLLAR-IDR TECHS: Bears Need Close Below Idr13340

*RES 4: Idr13415 - High May 19 

*RES 3: Idr13410 - High July 7 & 10 

*RES 2: Idr13380 - Low July 11 now resistance 

*RES 1: Idr13373 - 100-WMA

*PRICE: Idr13361 @ 2300GMT

*SUP 1: Idr13340 - Low Aug 15 

*SUP 2: Idr13330 - 55-DMA 

*SUP 3: Idr13295 - Low July 19 

*SUP 4: Idr13270 - Low Apr 26

*COMMENTARY: The failure to take out Idr13380 has again left the pair looking a

little heavy as daily studies correct lower from modestly O/B levels. Bulls look

for a close above Idr13380 to confirm focus on Idr13410-415 where monthly highs

are located. Bears now need a close below Idr13340 to confirm a break of the

200-DMA (Idr13347), easing bullish pressure and shifting focus back to Idr13295.

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

[TOPICS: MTABLE]