MNI Dollar-Asia Morning FX Technical Analysis

26 September 2017

By Kyle Shortland

Click below for today's MNI FX Technical Analysis Report -

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DOLLAR-SING TECHS: Bulls Need Close Above Sgd1.3584

*RES 4: Sgd1.3593 - Bollinger band top 

*RES 3: Sgd1.3584 - High Sept 4 

*RES 2: Sgd1.3576 - 55-DMA 

*RES 1: Sgd1.3538 - High Sept 14

*PRICE: Sgd1.3512 @ 2300GMT

*SUP 1: Sgd1.3496 - 21-DMA 

*SUP 2: Sgd1.3430 - Low Sept 22 

*SUP 3: Sgd1.3399 - Bollinger base, Low Sept 20 

*SUP 4: Sgd1.3294 - Daily Bear channel base

*COMMENTARY: Bulls are again trying to gain traction above the 21-DMA with focus

currently on Sgd1.3538-1.3584. Bulls now look for a close above Sgd1.3584 to

confirm a break of the 55-DMA and to shift focus to Sgd1.3686-1.3720 where the

bear channel top and 100-DMA are situated. Daily studies have room to move

before O/B is an issue. Bears now need a close below the 21-DMA to gain

breathing room and below Sgd1.3399 to confirm focus on 2017 lows.

DOLLAR-WON TECHS: Topside Follow Through Lacking

*RES 4: Krw1142.5 - 200-DMA

*RES 3: Krw1140.1 - Low Aug 18 now resistance

*RES 2: Krw1137.3 - Bollinger band top

*RES 1: Krw1133.0 - High Sept 25

*PRICE: Krw1131.8 @ 2300GMT

*SUP 1: Krw1127.1 - Rising daily TL

*SUP 2: Krw1125.1 - Low Sept 8

*SUP 3: Krw1121.5 - Bollinger band base

*SUP 4: Krw1119.0 - Low Aug 28

*COMMENTARY: The break to the topside lacked follow through last Friday with the

pair correcting lower Monday. Layers of resistance Krw1140.1-1148.1 where the

200-DMA is located remain key. Bulls need a close above Krw1148.1 to confirm a

break of the 200-DMA and to shift focus to 2017 highs (Krw1211.5). Bears look

for a close below Krw1125.1 to hint at a move back to 2017 lows with a close

below Krw1119.0 needed to confirm.

DOLLAR-MYR TECHS: Bulls Need Close Above Myr4.2210

*RES 4: Myr4.2485 - High Sept 6 

*RES 3: Myr4.2380 - Low Sept 6 now resistance 

*RES 2: Myr4.2279 - 21-DMA 

*RES 1: Myr4.2210 - High Sept 7

*PRICE: Myr4.1990 @ 2300GMT

*SUP 1: Myr4.1800 - Low Nov 9 

*SUP 2: Myr4.1700 - Low Oct 27 

*SUP 3: Myr4.1400 - Low Oct 11 

*SUP 4: Myr4.1330 - Daily Bear channel base

*COMMENTARY: Despite remaining heavy and pressuring the Myr4.1800 support bears

have so far failed to produce the close below to confirm initial focus on

Myr4.1330-00 where the bear channel base is noted. Very O/S daily studies

looking to correct remain the key concern for bears. Initial resistance is noted

at Myr4.2210 with bulls needing a close above to ease bearish pressure and above

Myr4.2380 to shift focus back to Myr4.2575-2680.

DOLLAR-CNH TECHS: Closes Above Channel Top

*RES 4: Cnh6.6561 - 55-DMA 

*RES 3: Cnh6.6411 - Low Aug 25 

*RES 2: Cnh6.6296 - Bollinger band top 

*RES 1: Cnh6.6276 - High Aug 29

*PRICE: Cnh6.6136 @ 2300GMT

*SUP 1: Cnh6.5860 - High Sept 22 now support

*SUP 2: Cnh6.5607 - 21-DMA 

*SUP 3: Cnh6.5573 - Low Sept 21

*SUP 4: Cnh6.5409 - Low Sept 18

*COMMENTARY: The recovery from 2017 lows looks received a boost from the close

above the bear channel top that sees bullish focus shift to Cnh6.6276-6561 where

the 55-DMA is noted. Daily studies approaching O/B and the Bollinger are key

concerns for bulls. In saying that, bear now need a close below Cnh6.5860 to

ease bullish pressure and below Cnh6.5573 to shift focus lower.

DOLLAR-PHP TECHS: Bears Focused On 100-DMA

*RES 4: Php51.295 - High Sept 15 

*RES 3: Php51.163 - Daily Bear channel top 

*RES 2: Php51.030 - 21-DMA 

*RES 1: Php50.839 - 55-DMA

*PRICE: Php50.710 @ 2300GMT

*SUP 1: Php50.550 - Low Aug 9 

*SUP 2: Php50.830 - High Aug 2 now support 

*SUP 3: Php50.417 - 100-DMA 

*SUP 4: Php50.250 - Monthly Low Aug 7

*COMMENTARY: Having supported on dips since June, bears take comfort in closes

below the 55-DMA that see immediate focus currently on the 100-DMA. Overall

below the 200-DMA (Php50.177) is needed to end bullish hopes and shift focus

back to Php49.365 June lows. Layers of resistance are weighing with bulls

needing a close above the 55-DMA to ease bearish pressure and above Php51.390 to

return focus to 2017 highs.

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

*RES 4: Thb33.53 - High July 26 

*RES 3: Thb33.44 - Daily Bear channel top 

*RES 2: Thb33.41 - High July 27 

*RES 1: Thb33.12 - 21-DMA

*PRICE: Thb33.10 @ 2300GMT

*SUP 1: Thb33.01 - 2017 Low Sept 7 & 8 

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

*SUP 3: Thb32.52 - Low Apr 27 2015 

*SUP 4: Thb32.44 - Daily Bear channel base

*COMMENTARY: Hesitation ahead of May 2015 monthly lows continues with the 21-DMA

capping. Bulls need a close above the 21-DMA to confirm an easing of bearish

pressure. Bulls then need a close above Thb33.53 to confirm breaks of the 55-DMA

(Thb33.27) and bear channel top with immediate focus shifting to Thb33.69-88.

Bears still need a close below Thb32.98 to retain focus on Thb32.44-52 where a

channel base it noted.

DOLLAR-IDR TECHS: Bears Need Close Below 21-DMA

*RES 4: Idr13410 - High July 7 & 10 

*RES 3: Idr13380 - Low July 11 now resistance 

*RES 2: Idr13352 - High Aug 31 

*RES 1: Idr13349 - 100-WMA

*PRICE: Idr13325 @ 2300GMT

*SUP 1: Idr13295 - Alternating daily support/resistance 

*SUP 2: Idr13285 - 21-DMA 

*SUP 3: Idr13250 - Low Sept 19 

*SUP 4: Idr13220 - Low Sept 14

*COMMENTARY: The recovery from 2017 lows now sees the pair flirting with key

DMAs. Bulls now look for a close above Idr13352 to confirm breaks of key DMAs

and confirm focus on Idr13380-13415. Layers of support have followed the pair

higher with bears now needing a close below the 21-DMA to ease renewed bullish

pressure and below Idr13250 to shift focus back to 2017 lows.

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

[TOPICS: MTABLE]