Free Trial
US TSYS

Early Eurodollar/SOFR/Treasury Option Roundup

US EURODLR FUTURES

BLOCK, March'23 Buy

STIR

BLOCK, SOFR Call Spd

NATURAL GAS

Russian Gas to Latvia Has Resumed

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
1 September 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: 21-DMA Capping
*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
Idr13175.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.