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Free AccessMNI ASIA OPEN: Focus on November Jobs Ahead Fed Blackout
MNI ASIA MARKETS ANALYSIS: Consolidation Ahead Nov Jobs Report
MNI Dollar-Asia Morning FX Technical Analysis
5 September 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/pzkomnu
DOLLAR-SING TECHS: Sgd1.3605-38 Resistance Key
*RES 4: Sgd1.3688 - High Aug 15
*RES 3: Sgd1.3678 - Bollinger band top
*RES 2: Sgd1.3638 - High Aug 21
*RES 1: Sgd1.3605 - 21-DMA
*PRICE: Sgd1.3566 @ 2300GMT
*SUP 1: Sgd1.3540 - Hourly support Sept 1
*SUP 2: Sgd1.3501 - 2017 Sept 1
*SUP 3: Sgd1.3467 - 200-WMA
*SUP 4: Sgd1.3430 - Monthly Low Sept 7 2016
*COMMENTARY: The 21-DMA capped last week resulting in marginal fresh 2017 and
12mth lows with immediate focus on the 200-WMA. A close below the 200-WMA was
last seen in Sept 2014. Daily studies have corrected back to neutral levels and
are now well placed for a fresh leg lower. Bulls need a close above the 21-DMA
to ease immediate bearish pressure and above Sgd1.3638 to shift focus to
Sgd1.3682-88 where the 55-DMA is noted.
DOLLAR-WON TECHS: Pressuring 55-DMA
*RES 4: Krw1144.1 - High Aug 18
*RES 3: Krw1140.1 - Low Aug 18 now resistance
*RES 2: Krw1133.8 - High Sept 4
*RES 1: Krw1133.4 - 55-DMA
*PRICE: Krw1133.0 @ 2300GMT
*SUP 1: Krw1128.5 - Low Sept 4
*SUP 2: Krw1119.0 - Low Aug 28
*SUP 3: Krw1117.9 - Bollinger band base
*SUP 4: Krw1114.3 - High July 27 now support
*COMMENTARY: Daily studies correcting from O/S remain the key concern for bears
and have provided the impetus for a gapping move higher that sees the pair
flirting with the 55-DMA. Bulls now need a close above the 55-DMA to confirm a
shift in focus to Krw1140.1-1148.1 where the 200-DMA (Krw1145.8) is located.
Initial support is noted at Krw1128.5 with bears needing a close below to ease
pressure on the 55-DMA and initially target Krw1119.0.
DOLLAR-MYR TECHS: 55-DMA Resistance Capping, Remains Key
*RES 4: Myr4.3112 - High Aug 16
*RES 3: Myr4.3030 - Bollinger band top
*RES 2: Myr4.3020 - 100-DMA
*RES 1: Myr4.2868 - 55-DMA
*PRICE: Myr4.2690 @ 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
Myr4.3020-3112 where the 100-DMA and Aug highs are situated.
DOLLAR-CNH TECHS: 200-WMA Now The Focus
*RES 4: Cnh6.6276 - High Aug 29
*RES 3: Cnh6.6131 - High Aug 30
*RES 2: Cnh6.5827 - Low Aug 30 now resistance
*RES 1: Cnh6.5663 - High Sept 4
*PRICE: Cnh6.5284 @ 2300GMT
*SUP 1: Cnh6.5242 - 2017 Low Sept 4
*SUP 2: Cnh6.5077 - Low May 6 2016
*SUP 3: Cnh6.4923 - High Apr 29 2016 now support
*SUP 4: Cnh6.4660 - Low Apr 20 2016
*COMMENTARY: The pair remains heavy as fresh 2017 and 12mth lows continue with
bears now focused on the 200-WMA (Cnh6.4420). Daily studies at O/S levels and
the Bollinger base (Cnh6.5368) remain key concerns for bears. Layers of
resistance continue to accumulate and weigh on the pair with bulls now needing a
close above Cnh6.5827 to ease bearish pressure and above Cnh6.6131 to hint at a
move back to the 21-DMA (Cnh6.6432).
DOLLAR-PHP TECHS: Bears Need Close Below Php50.900
*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: Php51.250 - High Sept 4
*PRICE: Php51.165 @ 2300GMT
*SUP 1: Php50.900 - Lows Aug 11 & 14
*SUP 2: Php50.840 - High July 25 now support
*SUP 3: Php50.680 - High Aug 9 now support
*SUP 4: Php50.639 - 55-DMA
*COMMENTARY: The correction lower from 2017 and 11year highs sees bears focused
on Php50.900 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 still 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 21-DMA
*RES 4: Thb33.53 - High July 26
*RES 3: Thb33.41 - High July 27
*RES 2: Thb33.22 - 21-DMA
*RES 1: Thb33.20 - Daily Bear channel top
*PRICE: Thb33.16 @ 2300GMT
*SUP 1: Thb33.09 - 2017 Low Sept 4
*SUP 2: Thb32.98 - Monthly Low May 1 2015
*SUP 3: Thb32.60 - 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 now need a close above
the 21-DMA to confirm an easing of bearish pressure. Bulls then need a close
above Thb33.41 to shift focus to layers of resistance Thb33.52-70 where the
longer term bear channel top is located. Bears need a close below Thb32.98 to
retain focus on Thb32.52-60 where the channel base it noted.
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: Idr13341 @ 2300GMT
*SUP 1: Idr13326 - 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]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.