register nowRegister now

(H1) Fragile Outlook


Curve Lower, Flatter as Yields Reverse Off Cycle Highs


Yield Curve Update


Eurodollars Futures Snapshot




Probes Key Support

1 September 2017
By Kyle Shortland
Please click on this link to access MNI's daily Dollar-Asia FX Technical
Analysis Pdf
*RES 4: Sgd1.3688 - High Aug 15 
*RES 3: Sgd1.3679 - Bollinger band top 
*RES 2: Sgd1.3638 - High Aug 21 
*RES 1: Sgd1.3606 - 21-DMA
*PRICE: Sgd1.3556 @ 2300GMT
*SUP 1: Sgd1.3530 - Alternating hourly support/resistance 
*SUP 2: Sgd1.3502 - 2017 Low Aug 29 
*SUP 3: Sgd1.3467 - 200-WMA 
*SUP 4: Sgd1.3430 - Monthly Low Sept 7 2016
*COMMENTARY: The recovery from recent 2017 lows looks to be in trouble with the
21-DMA having capped the break of Sgd1.3592 Thursday. The pair is again looking
heavy with bears now needing a close below Sgd1.3530 to reconfirm focus on
Sgd1.3430-67 where the 200-WMA and monthly lows are located. Daily studies are
well placed for a fresh leg lower. Bulls now need a close above Sgd1.3638 to
shift focus to Sgd1.3687-88 where the 55-DMA is noted.
DOLLAR-WON TECHS: Bears Dominate While 55-DMA Caps
*RES 4: Krw1133.5 - 55-DMA
*RES 3: Krw1131.5 - High Aug 25
*RES 2: Krw1131.3 - 100-DMA
*RES 1: Krw1128.7 - High Aug 29
*PRICE: Krw1127.8 @ 2300GMT
*SUP 1: Krw1119.0 - Low Aug 28
*SUP 2: Krw1117.8 - Bollinger band base
*SUP 3: Krw1114.3 - High July 27 now support
*SUP 4: Krw1110.5 - 2017 Low Mar 28
*COMMENTARY: Daily studies correcting from O/S remain the key concern for bears.
In saying that, layers of resistance remain Krw1128.7-1133.5 with bulls needing
a close above the 55-DMA to end bearish hopes and shift focus to
Krw1140.1-1148.1 where the 200-DMA (Krw1146.2) is located. While the 55-DMA caps
bears retain an advantage and look for a close below Krw1119.0 to reconfirm
focus on tests of 2017 lows.
DOLLAR-MYR TECHS: 55-DMA Resistance Capping, Remains Key
*RES 4: Myr4.3112 - High Aug 16 
*RES 3: Myr4.3036 - 100-DMA 
*RES 2: Myr4.3025 - Bollinger band top 
*RES 1: Myr4.2868 - 55-DMA
*PRICE: Myr4.2803 @ 2300GMT
*SUP 1: Myr4.2575 - Low Aug 29 
*SUP 2: Myr4.2465 - 2017 Low June 20 
*SUP 3: Myr4.2440 - Low Nov 10 
*SUP 4: Myr4.2380 - High Nov 9 now support
*COMMENTARY: Broad sideways trading Myr4.2465-3270 continues with focus having
returned to the Myr4.2440-65 region where 2017 lows are located following the
most recent topside failure and closes below the 55-DMA. Bulls continue to look
for a close above the 55-DMA to ease bearish pressure and shift focus back to
Myr4.3025-3112 where the 100-DMA and Aug highs are situated.
DOLLAR-CNH TECHS: Bears Focused On Cnh6.5246-5783
*RES 4: Cnh6.6539 - Low Aug 24 now resistance 
*RES 3: Cnh6.6413 - Monthly Low Sept 16 now resistance 
*RES 2: Cnh6.6276 - High Aug 29 
*RES 1: Cnh6.6131 - High Aug 30
*PRICE: Cnh6.5933 @ 2300GMT
*SUP 1: Cnh6.5827 - 2017 Low Aug 30 
*SUP 2: Cnh6.5783 - Low June 24 2016 
*SUP 3: Cnh6.5389 - Monthly Low June 3 2016 
*SUP 4: Cnh6.5246 - Low May 12 2016
*COMMENTARY: Failures ahead of the daily bear channel top (Cnh6.6563) continue
to result in fresh 2017 & 14mth lows that see bearish focus now on layers of
support Cnh6.5246-5783. O/S daily studies and the Bollinger base (Cnh6.5933)
remain key concerns for bears. In saying that, bulls still need a close above
Cnh6.6276 to gain breathing room and above the 21-DMA (Cnh6.6643) to hint at a
move back to Cnh6.7153-7377.
DOLLAR-PHP TECHS: Bears Focused On 21-DMA
*RES 4: Php51.700 - High Aug 3 2006 
*RES 3: Php51.630 - 2017 High Aug 18 
*RES 2: Php51.390 - Low Aug 18 now resistance 
*RES 1: Php51.240 - High Aug 29
*PRICE: Php51.170 @ 2300GMT
*SUP 1: Php50.900 - Lows Aug 11 & 14, 21-DMA 
*SUP 2: Php50.840 - High July 25 now support 
*SUP 3: Php50.680 - High Aug 9 now support 
*SUP 4: Php50.609 - 55-DMA
*COMMENTARY: The correction lower from 2017 and 11year highs sees bears focused
on the 21-DMA with a close below needed to shift focus to Php50.485-680 where
the 55-DMA and bull channel base are located. Daily studies have corrected back
to more neutral levels. Bulls now need a close above Php51.390 to reconfirm
focus on tests of Php51.630-700 where 2017 highs are located.
DOLLAR-THB TECHS: Bulls Need Close Above Bear Channel Top
*RES 4: Thb33.53 - High July 26 
*RES 3: Thb33.41 - High July 27 
*RES 2: Thb33.25 - Daily Bear channel top 
*RES 1: Thb33.24 - 21-DMA
*PRICE: Thb33.16 @ 2300GMT
*SUP 1: Thb33.11 - 2017 Low Aug 29 
*SUP 2: Thb32.98 - Monthly Low May 1 2015 
*SUP 3: Thb32.65 - Daily Bear channel base 
*SUP 4: Thb32.52 - Low Apr 27 2015
*COMMENTARY: Hesitation ahead of May 2015 monthly lows continues with very
narrow Bollinger bands suggestive of a breakout. Bulls need a close above the
daily bear channel top to confirm a break of the 21-DMA and an easing of bearish
pressure. Bulls then need a close above Thb33.41 to shift focus to layers of
resistance Thb33.53-91 where the longer term bear channel top and 100-DMA are
noted. Bears need a close below Thb33.11 to reconfirm a bearish bias.
DOLLAR-IDR TECHS: Supported Ahead Of 100-DMA
*RES 4: Idr13415 - High May 19 
*RES 3: Idr13410 - High July 7 & 10 
*RES 2: Idr13380 - Low July 11 now resistance 
*RES 1: Idr13360 - 100-WMA
*PRICE: Idr13342 @ 2300GMT
*SUP 1: Idr13325 - 100-DMA 
*SUP 2: Idr13295 - Low July 19 
*SUP 3: Idr13270 - Low Apr 26 
*SUP 4: Idr13245 - 2017 Low Apr 13
*COMMENTARY: Broad sideways trading in a Idr13245-13415 range continues with
Idr13270-13380 on the narrow. Bulls continue to look for a close above Idr13380
to pressure Idr13415 and above this level to target Idr13485 2017 highs. Bears
still need a close below the 100-DMA to return focus to the lower end of the
dominant range. Bears look for a close below Idr13245 to initially target
--MNI Beijing Bureau; tel: +44 207-862-7435; email: