MNI Dollar-Asia Morning FX Technical Analysis

8 September 2017

By Kyle Shortland

DOLLAR-SING TECHS: Focus Shifts To Sgd1.3315-48

*RES 4: Sgd1.3543 - Hourly resistance Sept 5 

*RES 3: Sgd1.3508 - High Sept 7 

*RES 2: Sgd1.3472 - 200-WMA 

*RES 1: Sgd1.3454 - Hourly resistance Sept 7

*PRICE: Sgd1.3399 @ 2300GMT

*SUP 1: Sgd1.3391 - 2017 Low Sept 7 

*SUP 2: Sgd1.3381 - Low Aug 18 2016 

*SUP 3: Sgd1.3348 - Daily Bear channel base 

*SUP 4: Sgd1.3343 - Monthly Low Aug 16 2016

*COMMENTARY: The 21-DMA capped last week resulting in repeated fresh 2017 and

12mth lows and a bearish close the 200-WMA Thursday. The first close below the

200-WMA since Sept 2014 adds weight to the bearish case with focus now on the

Sgd1.3315-48 region where 2016 lows and the bear channel base are situated.

Layers of resistance are accumulating and weighing with bulls needing a close

above the 200-WMA to ease bearish pressure.

DOLLAR-WON TECHS: Looking A Little Heavy Again

*RES 4: Krw1145.2 - 200-DMA

*RES 3: Krw1144.1 - High Aug 18

*RES 2: Krw1140.1 - Low Aug 18 now resistance

*RES 1: Krw1136.1 - High Sept 6

*PRICE: Krw1129.4 @ 2300GMT

*SUP 1: Krw1119.6 - Bollinger band base

*SUP 2: Krw1119.0 - Low Aug 28

*SUP 3: Krw1114.3 - High July 27 now support

*SUP 4: Krw1110.5 - 2017 Low Mar 28

*COMMENTARY: Time spent above the 55-DMA (krw1133.1) was brief with the close

below key DMAs Thursday leaving the pair looking a little heavy. Bears now look

for a close below Krw1119.0 to confirm focus on tests of 2017 lows. Daily

studies are well placed for a fresh leg lower having corrected back to neutral

levels. Bulls now need a close above Krw1136.1 to return focus to

Krw1140.1-1148.1 where the 200-DMA and bear channel top are situated.

DOLLAR-MYR TECHS: Bearish Focus Shifts To Myr4.1400-1800

*RES 4: Myr4.2575 - Low Aug 29 now resistance 

*RES 3: Myr4.2485 - High Sept 6 

*RES 2: Myr4.2388 - Low Sept 6 now resistance 

*RES 1: Myr4.2210 - High Sept 7

*PRICE: Myr4.2095 @ 2300GMT

*SUP 1: Myr4.2095 - 2017 Low Sept 7 

*SUP 2: Myr4.1800 - Low Nov 9 

*SUP 3: Myr4.1700 - Low Oct 27 

*SUP 4: Myr4.1511 - Daily Bear channel base

*COMMENTARY: The end of sideways trading has seen repeated fresh 2017 and 10mth

lows as bears now shift focus to Myr4.1400-1800 where the bear channel base is

located. O/S daily studies and the Bollinger base indicate the move may be a

little overdone at current levels. In saying that, bulls now need a close above

Myr4.2388 to ease bearish pressure and above Myr4.2575 to shift focus back to

DMAs Myr4.2775-2956.

DOLLAR-CNH TECHS: Focus Firmly On 200-WMA

*RES 4: Cnh6.5663 - High Sept 4 

*RES 3: Cnh6.5242 - Low Sept 4 now resistance 

*RES 2: Cnh6.5077 - Low May 6 2016 now resistance 

*RES 1: Cnh6.4923 - Alternating daily support/resistance

*PRICE: Cnh6.4863 @ 2300GMT

*SUP 1: Cnh6.4729 - Monthly Low May 3 2016 

*SUP 2: Cnh6.4660 - Low Apr 20 2016 

*SUP 3: Cnh6.4434 - 2016 Low Mar 18 2016 

*SUP 4: Cnh6.4417 - 200-WMA

*COMMENTARY: The pair remains heavy after fresh 2017 and 16mth lows with bears

now firmly focused on the 200-WMA (Cnh6.4417). Daily studies at O/S levels and

the Bollinger base (Cnh6.4820) remain key concerns for bears. Layers of

resistance remain and weigh on the pair with bulls now needing a close above

Cnh6.5242 to ease bearish pressure and above Cnh6.5827 to shift focus to

Cnh6.6131-6539.

DOLLAR-PHP TECHS: Php50.900 & Php51.250 Levels Now Key

*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: Php50.930 @ 2300GMT

*SUP 1: Php50.900 - Lows Aug 11 & 14 

*SUP 2: Php50.840 - High July 25 now support 

*SUP 3: Php50.714 - 55-DMA 

*SUP 4: Php50.680 - High Aug 9 now support

*COMMENTARY: The Php51.250 resistance remains key as the pair looks to be

gaining traction below the 21-DMA (Php51.050). Bulls need a close above

Php51.250 to ease bearish pressure and above Php51.390 to reconfirm focus on

tests of Php51.630-700 where 2017 highs are located. Bears continue to look for

a close below Php50.90 to confirm a shift in immediate focus to Php50.485-714

where the bull channel base and 55-DMA are located.

DOLLAR-THB TECHS: Bulls Need Close Above 21-DMA

*RES 4: Thb33.49 - 55-DMA 

*RES 3: Thb33.41 - High July 27 

*RES 2: Thb33.21 - 21-DMA 

*RES 1: Thb33.16 - Daily Bear channel top B

*PRICE: Thb33.08 @ 2300GMT

*SUP 1: Thb33.01 - 2017 Low Sept 7 

*SUP 2: Thb32.98 - Monthly Low May 1 2015 

*SUP 3: Thb32.53 - Daily Bear channel base B 

*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 Thb33.47-61 where the

longer-term bear channel top is located. Bears need a close below Thb32.98 to

retain focus on Thb32.52-53 where a channel base it noted.

DOLLAR-IDR TECHS: Looking A Little Heavy

*RES 4: Idr13359 - 100-WMA 

*RES 3: Idr13346 - 21-DMA 

*RES 2: Idr13339 - 200-DMA 

*RES 1: Idr13327 - 100-DMA

*PRICE: Idr13305 @ 2300GMT

*SUP 1: Idr13303 - Rising daily TL 

*SUP 2: Idr13295 - Low July 19 

*SUP 3: Idr13270 - Low Apr 26 

*SUP 4: Idr13245 - 2017 Low Apr 13

*COMMENTARY: The aggressive break of the 100-DMA and bearish close sees bearish

confidence increase but a close below Idr13295 is needed to confirm a return in

focus of 2017 lows. The Bollinger base (Idr13316) is the key concern for bears

with potential to limit follow through. Layers of resistance remain Idr13327-359

with bulls needing a close above the 100-WMA to return focus to Idr13380-13415.

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

[TOPICS: MTABLE]