MNI Dollar-Asia Morning FX Technical Analysis

23 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 Sgd1.3638

*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: Sgd1.3619 @ 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: Bears are struggling to gain traction below the 21-DMA with bears

currently focused on test of the Sgd1.3536-82 support region where 2017 lows are

located. Narrowing Bollinger bands are suggestive of a break out in the near

future. Bulls need a close above Sgd1.3638 to gain breathing room and above

Sgd1.3688 to pressure the 55-DMA. Bulls now look for a close above the Sgd1.3720

to shift focus to the bear channel top (Sgd1.3794).

DOLLAR-WON TECHS: Pressure Returns To Key DMAs

*RES 4: Krw1148.1 - High Aug 11

*RES 3: Krw1146.8 - 200-DMA

*RES 2: Krw1144.1 - High Aug 18

*RES 1: Krw1140.1 - Low Aug 18 now resistance

*PRICE: Krw1139.0 @ 2300GMT

*SUP 1: Krw1132.9 - 55-DMA

*SUP 2: Krw1130.7 - 100-DMA

*SUP 3: Krw1129.0 - 21-DMA

*SUP 4: Krw1123.0 - Low Aug 3

*COMMENTARY: Failure to trouble the 200-DMA has left the pair looking a little

heavy and pressure back on key DMAs clustered Krw1129.0-1133.1. Bears look for a

close below the 21-DMA to hint at a move back to 2017 lows with below Krw1123.0

needed to confirm. Bulls now need a close above Krw1140.1 to gain breathing room

and above Krw1148.1 to confirm a break of the 200-DMA and a shift in focus to

Krw1157.8-1161.0 where monthly highs are situated.

DOLLAR-MYR TECHS: Remains Stuck In Well Defined Range

*RES 4: Myr4.3270 - High June 28 

*RES 3: Myr4.3148 - 100-DMA 

*RES 2: Myr4.3112 - High Aug 16 

*RES 1: Myr4.2994 - Bollinger band top

*PRICE: Myr4.2808 @ 2300GMT

*SUP 1: Myr4.2736 - Bollinger band base 

*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 focus having

returned to the Myr4.2664-2700 region following the most recent topside failure

and close below the 55-DMA (Myr4.2856). Bears need a close below Myr4.2664 to

return pressure to the Myr4.2465 2017 low. Narrowing Bollinger bands re

suggestive of a breakout in the near future.

DOLLAR-CNH TECHS: Cnh6.6886-7153 Resistance Region Key

*RES 4: Cnh6.7154 - Low Aug 1 now resistance 

*RES 3: Cnh6.7036 - 21-DMA 

*RES 2: Cnh6.6886 - High Aug 17 

*RES 1: Cnh6.6748 - Low Aug 17 now resistance

*PRICE: Cnh6.6655 @ 2300GMT

*SUP 1: Cnh6.6567 - 2017 Low Aug 11 

*SUP 2: Cnh6.6512 - Bollinger band base 

*SUP 3: Cnh6.6413 - Monthly Low Sept 16 

*SUP 4: Cnh6.6216 - Low July 29 2016

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

(Cnh6.6859) last week with immediate pressure having returned to the 2017 low.

Bears look for fresh 2017 lows to add weight to the case for a test of

Cnh6.6216-6413. Bulls now need a close above Cnh6.6886 to gain breathing room

and above Cnh6.7153 to shift initial focus to Cnh6.7377-7591 where the 55-DMA is

located.

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: Php51.240 @ 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 (Php51.549) 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: Thb33.26 - 21-DMA

*PRICE: Thb33.23 @ 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 Thb33.65-88 where the 55-DMA (Thb33.65) 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: Pressure Back on 55-DMA

*RES 4: Idr13410 - High July 7 & 10 

*RES 3: Idr13380 - Low July 11 now resistance 

*RES 2: Idr13373 - 100-WMA 

*RES 1: Idr13347 - 200-DMA

*PRICE: Idr13341 @ 2300GMT

*SUP 1: Idr13331 - 55-DMA 

*SUP 2: Idr13295 - Low July 19 

*SUP 3: Idr13270 - Low Apr 26 

*SUP 4: Idr13245 - 2017 Low Apr 13

*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 look for a close below the 55-DMA currently under

pressure to reconfirm immediate pressure back on the Idr13295 support.

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

[TOPICS: MTABLE]