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MNI Dollar-Asia Morning FX Technical Analysis

6 September 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
DOLLAR-SING TECHS: Bears Focused on 200-WMA
*RES 4: Sgd1.3638 - High Aug 21 
*RES 3: Sgd1.3595 - 21-DMA 
*RES 2: Sgd1.3584 - High Sept 4 
*RES 1: Sgd1.3543 - Hourly resistance Sept 5
*PRICE: Sgd1.3529 @ 2300GMT
*SUP 1: Sgd1.3510 - Low Sept 5 
*SUP 2: Sgd1.3501 - 2017 Sept 1 
*SUP 3: Sgd1.3473 - 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
Sgd1.3669-88 where the 55-DMA is noted.
DOLLAR-WON TECHS: Bulls Need Close Above Krw1133.8
*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: Krw1131.1 @ 2300GMT
*SUP 1: Krw1128.5 - Low Sept 4
*SUP 2: Krw1119.0 - Low Aug 28
*SUP 3: Krw1118.5 - 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 provided the impetus for a gapping move higher that sees the pair flirting
with the 55-DMA. Bulls need a close above Krw1133.8 to confirm a shift in focus
to Krw1140.1-1148.1 where the 200-DMA (Krw1145.6) is located. Initial support is
noted at Krw1128.5 with bears needing a close below to ease pressure on
Krw1133.4-1133.8 and initially target Krw1119.0.
DOLLAR-MYR TECHS: 55-DMA Resistance Remains Key
*RES 4: Myr4.3112 - High Aug 16 
*RES 3: Myr4.3036 - Bollinger band top 
*RES 2: Myr4.3003 - 100-DMA 
*RES 1: Myr4.2866 - 55-DMA
*PRICE: Myr4.2672 @ 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
Myr4.3003-3112 where the 100-DMA and Aug highs are situated.
*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: Cnh6.5400 @ 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 after recent fresh 2017 and 12mth lows with
bears now focused on the 200-WMA (Cnh6.4420). Daily studies at O/S levels and
the Bollinger base (Cnh6.5397) 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 Cnh6.6539.
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: Php51.140 @ 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: Php50.668 - 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: Thb33.18 - Daily Bear channel top
*PRICE: Thb33.14 @ 2300GMT
*SUP 1: Thb33.09 - 2017 Low Sept 4 
*SUP 2: Thb32.98 - Monthly Low May 1 2015 
*SUP 3: Thb32.57 - 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
21-DMA to confirm an easing of bearish pressure. Bulls then need a close above
Thb33.41 to shift focus to layers of resistance Thb33.51-70 where the
longer-term bear channel top is located. Bears need a close below Thb32.98 to
retain focus on Thb32.52-57 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: Idr13337 @ 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
--MNI Beijing Bureau; tel: +44 207-862-7435; email:

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