Free Trial
US TSYS

Early Cheapening Extends

JGBS

Firmer, Futures Show Above Recent High

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
14 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: Bulls Look for Close Above 21-DMA
*RES 4: Sgd1.3625 - 55-DMA 
*RES 3: Sgd1.3584 - High Sept 4 
*RES 2: Sgd1.3545 - 21-DMA 
*RES 1: Sgd1.3513 - High Sept 13
*PRICE: Sgd1.3506 @ 2300GMT
*SUP 1: Sgd1.3477 - Alternating daily support/resistance, 200-WMA 
*SUP 2: Sgd1.3425 - High Sept 8 now support 
*SUP 3: Sgd1.3408 - Bollinger band base 
*SUP 4: Sgd1.3342 - 2017 Low Sept 8
*COMMENTARY: The recovery from Friday's 2017 lows continues with bulls now
looking for a close above the 21-DMA to add support to their case and above
Sgd1.3584 to initially pressure the 55-DMA. The Sgd1.3477 level is now initial
support with bears needing a close below to gain breathing room. A close below
Sgd1.3425 remains needed to return initial focus to recent 2017 lows. Daily
studies have room to move before O/B is an issue.
DOLLAR-WON TECHS: Krw1119.0 & Krw1136.1 Levels Key
*RES 4: Krw1144.1 - High Aug 18
*RES 3: Krw1140.1 - Low Aug 18 now resistance
*RES 2: Krw1136.1 - High Sept 6
*RES 1: Krw1132.4 - 55-DMA
*PRICE: Krw1128.5 @ 2300GMT
*SUP 1: Krw1125.1 - Low Sept 8
*SUP 2: Krw1119.6 - Bollinger band base
*SUP 3: Krw1119.0 - Low Aug 28
*SUP 4: Krw1114.3 - High July 27 now support
*COMMENTARY: A triangle has developed on the dailies that sees the Krw1119.0 &
Krw1136.1 levels as key. Bulls continue to look for a break above Krw1136.1 to
confirm a topside break and return initial focus to Krw1140.1-1148.1 where the
200-DMA and bear channel top are situated. Bears need a close below Krw1119.0 to
confirm a break to the downside and return initial focus to 2017 lows. Daily
studies remain at neutral levels.
DOLLAR-MYR TECHS: Bears Focused On Myr4.1400-1451
*RES 4: Myr4.2575 - Low Aug 29 now resistance 
*RES 3: Myr4.2485 - High Sept 6 
*RES 2: Myr4.2380 - Low Sept 6 now resistance 
*RES 1: Myr4.2210 - High Sept 7
*PRICE: Myr4.1888 @ 2300GMT
*SUP 1: Myr4.1800 - Low Nov 9 
*SUP 2: Myr4.1700 - Low Oct 27 
*SUP 3: Myr4.1451 - Daily Bear channel base 
*SUP 4: Myr4.1400 - Low Oct 11
*COMMENTARY: The pair is again looking heavy with pressure back on 2017 lows
following the failure to trouble the key Myr4.2210-2.80 resistance region. O/S
daily studies and the Bollinger base (Myr4.1890) remain key concerns for bears
with potential to limit follow through. In saying that, bears now focus on
Myr4.1400-1451 where the daily bear channel base is situated. Bulls need a close
above Myr4.2210 to ease bearish pressure.
DOLLAR-CNH TECHS: Bears Need Close Below Cnh6.5023
*RES 4: Cnh6.6131 - High Aug 30 
*RES 3: Cnh6.5827 - Low Aug 30 now resistance 
*RES 2: Cnh6.5663 - High Sept 4 
*RES 1: Cnh6.5507 - High Sept 6
*PRICE: Cnh6.5346 @ 2300GMT
*SUP 1: Cnh6.5053 - Low Sept 11 
*SUP 2: Cnh6.4442 - 200-WMA 
*SUP 3: Cnh6.4425 - 2017 Low Sept 8 
*SUP 4: Cnh6.4140 - Low Nov 25 2015
*COMMENTARY: The dip below the 200-WMA resulted in fresh 2017 and nearly 2year
lows Friday although the lack of follow through is hinting at a bigger
correction back to Cnh6.5827-6131 where the 21-DMA is located. Daily studies
correcting from very O/S levels add support the bullish case. Initial support
remains at Cnh6.5053 with bears needing a close below to ease bullish pressure
and return initial focus to 2017 lows.
DOLLAR-PHP TECHS: Bulls Need Close Above Php51.390
*RES 4: Php51.630 - 2017 High Aug 18 
*RES 3: Php51.390 - Low Aug 18 now resistance 
*RES 2: Php51.250 - High Sept 4 
*RES 1: Php51.115 - 21-DMA
*PRICE: Php50.975 @ 2300GMT
*SUP 1: Php50.830 - Low Sept 11 
*SUP 2: Php50.675 - Low Sept 8 
*SUP 3: Php50.667 - Daily Bull channel base 
*SUP 4: Php50.550 - Low Aug 9
*COMMENTARY: The dip below the 55-DMA (Php50.758) lacked follow through Friday
with bulls finding support ahead of the daily bull channel base. Daily studies
correcting higher add support to the bullish case for a test of the
Php51.250-390 resistance region although the 21-DMA may slow the move. Bears now
need a close below Php50.830 to ease pressure on the 21-DMA and retain focus on
the daily bull channel base.
DOLLAR-THB TECHS: Bulls Need Close Above 21-DMA
*RES 4: Thb33.55 - Daily Bear channel top 
*RES 3: Thb33.53 - High July 26 
*RES 2: Thb33.41 - High July 27, 55-DMA 
*RES 1: Thb33.18 - 21-DMA
*PRICE: Thb33.13 @ 2300GMT
*SUP 1: Thb33.01 - 2017 Low Sept 7 & 8 
*SUP 2: Thb32.98 - Monthly Low May 1 2015 
*SUP 3: Thb32.55 - Daily Bear channel base 
*SUP 4: Thb32.52 - Low Apr 27 2015
*COMMENTARY: Hesitation ahead of May 2015 monthly lows continues with the 21-DMA
continuing to cap. Bulls need a close above the 21-DMA to confirm an easing of
bearish pressure. Bulls then need a close above the 55-DMA to shift focus to
layers of resistance Thb33.53-55 where the longer-term bear channel top is
located. Bears still need a close below Thb32.98 to retain focus on Thb32.52-55
where a channel base it noted.
DOLLAR-IDR TECHS: Bulls Need Close Above Idr13245
*RES 4: Idr13295 - Low July 19 now resistance 
*RES 3: Idr13270 - Low June 15 now resistance 
*RES 2: Idr13245 - Low Apr 13 now resistance 
*RES 1: Idr13222 - High Sept 12
*PRICE: Idr13201 @ 2300GMT
*SUP 1: Idr13175 - Low Sept 12 
*SUP 2: Idr13135 - 2017 Low Sept 11 
*SUP 3: Idr13049 - Low Sept 11 2016 
*SUP 4: Idr12975 - Low Oct 11 2016
*COMMENTARY: The pair looked heavy Friday following Thursday's close below the
100-DMA (Idr13222) and bears were not disappointed with a series of fresh 2017
and 12mth lows that now see bears targeting the 200-WMA. The move looks a little
O/S with an increased risk of a correction. Bulls now need a close above
Idr13245 to shift initial focus to Idr13270-295.
--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.