MNI Dollar-Asia Morning FX Technical Analysis

29 September 2017

By Kyle Shortland

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

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DOLLAR-SING TECHS: Rejected Ahead Of Bear Channel Top

*RES 4: Sgd1.3720 - High July 17 

*RES 3: Sgd1.3689 - 100-DMA 

*RES 2: Sgd1.3672 - Daily Bear channel top 

*RES 1: Sgd1.3646 - High Sept 28

*PRICE: Sgd1.3577 @ 2300GMT

*SUP 1: Sgd1.3571 - 55-DMA 

*SUP 2: Sgd1.3538 - High Sept 14 now support 

*SUP 3: Sgd1.3500 - 21-DMA 

*SUP 4: Sgd1.3430 - Low Sept 22

*COMMENTARY: The rally that has defined the week so far looks to be in trouble

with the pair aggressively rejected ahead of the daily bear channel top and

100-DMA. Pressure has returned to the 55-DMA with bears needing a close below to

ease bullish pressure and below the 21-DMA to shift initial focus back to

Sgd1.3399-1.3430 and overall focus to 2017 lows. Correcting O/B studies and the

Bollinger top (Sgd1.3606) are key concerns for bulls.

DOLLAR-WON TECHS: Focus Shifts To July Highs

*RES 4: Krw1157.9 - Monthly High July 6

*RES 3: Krw1154.3 - Low July 7 now resistance

*RES 2: Krw1152.4 - 100-WMA

*RES 1: Krw1150.0 - High Sept 28

*PRICE: Krw1149.1 @ 2300GMT

*SUP 1: Krw1142.2 - 200-DMA

*SUP 2: Krw1137.5 - High Sept 26 now support

*SUP 3: Krw1133.0 - High Sept 25 now support

*SUP 4: Krw1129.6 - 55-DMA

*COMMENTARY: A gapping move higher and bullish close Thursday sees bullish

confidence boosted and bulls now focused on tests of July highs. The close well

above the Bollinger top (Krw1143.0) hints at the move being a little overdone

and suggests a dip back towards the 200-DMA. Bears now need a close below the

200-DMA to ease bullish pressure and below Krw1137.5 to shift focus lower. Bulls

look for a close above the 100-WMA to add support to their case.

DOLLAR-MYR TECHS: Capped Ahead Of 55-DMA

*RES 4: Myr4.2747 - 100-DMA 

*RES 3: Myr4.2623 - Daily Bear channel top 

*RES 2: Myr4.2602 - 55-DMA 

*RES 1: Myr4.2550 - High Sept 28

*PRICE: Myr4.2305 @ 2300GMT

*SUP 1: Myr4.1870 - Low Sept 20 

*SUP 2: Myr4.1810 - 2017 Low Sept 8 

*SUP 3: Myr4.1700 - Low Oct 27 

*SUP 4: Myr4.1573 - Bollinger band base

*COMMENTARY: The Myr4.1800-70 support region continues to confirm significance

with the pair bouncing aggressively from a dip back to this region Thursday. The

pair remained capped ahead of the Myr4.2602-2747 resistance region with bulls

needing a close above the 100-DMA to end bearish hopes and shift focus to

Myr4.3112. Bears need a close below Myr4.1800 to reconfirm the bearish bias and

target the channel base (Myr4.1292).

DOLLAR-CNH TECHS: Topside Follow Through Lacking

*RES 4: Cnh6.7154 - Low Aug 1 now resistance 

*RES 3: Cnh6.6886 - High Aug 17 

*RES 2: Cnh6.6785 - High Sept 28 

*RES 1: Cnh6.6600 - Bollinger band top

*PRICE: Cnh6.6539 @ 2300GMT

*SUP 1: Cnh6.6493 - 55-DMA

*SUP 2: Cnh6.6227 - Low Sept 27

*SUP 3: Cnh6.6053 - Low Sept 26 

*SUP 4: Cnh6.5860 - High Sept 22 now support

*COMMENTARY: The recovery from 2017 lows resulted in a spike above the 55-DMA

but follow through has so far been lacking. Daily studies looking to correct

from O/B and the Bollinger top limiting follow through increase the risk of a

correction lower. Bears now need a close below Cnh6.6227 to confirm a break of

the 55-DMA and below Cnh6.6053 to shift focus back to Cnh6.5573-5684 where the

21-DMA is located.

DOLLAR-PHP TECHS: Bears Need Close Below 55-DMA

*RES 4: Php51.390 - Low Aug 18 now resistance 

*RES 3: Php51.295 - High Sept 15 

*RES 2: Php51.284 - Bollinger band top 

*RES 1: Php51.165 - High Sept 28

*PRICE: Php51.013 @ 2300GMT

*SUP 1: Php50.859 - 55-DMA 

*SUP 2: Php50.720 - Low Sept 27 

*SUP 3: Php50.550 - Low Aug 9 

*SUP 4: Php50.447 - 100-DMA

*COMMENTARY: Time spent below the 55-DMA was brief with the recovery seeing the

pair flirting with the 21-DMA (Php51.013). Bulls now look for a close above

Php51.390 to return focus to 2017 highs. Daily studies are well placed for a

fresh leg higher. Bears now need a close below the 55-DMA to ease renewed

bullish pressure and shift focus back to Php50.447-550 where the 100-DMA is

located.

DOLLAR-THB TECHS: Bears Need Close Below 55-DMA

*RES 4: Thb33.80 - Low June 14 now resistance 

*RES 3: Thb33.70 - High July 20 

*RES 2: Thb33.62 - 100-DMA 

*RES 1: Thb33.53 - High July 26

*PRICE: Thb33.38 @ 2300GMT

*SUP 1: Thb33.25 - 55-DMA 

*SUP 2: Thb33.14 - 21-DMA 

*SUP 3: Thb33.01 - 2017 Low Sept 7 & 8 

*SUP 4: Thb32.98 - Monthly Low May 1 2015

*COMMENTARY: Hesitation ahead of May 2015 monthly lows defined September with

bulls taking comfort in closes above 21 & 55-DMAs and focus currently on

Php33.53-70 where the 100-DMA is located. Bulls now look for a close above

Thb33.70 to hint at a move back to Thb34-16-29 with above Thb33.88 to confirm.

Bears now need a close below the 55-DMA to ease bullish pressure.

DOLLAR-IDR TECHS: Fresh 2017 Highs Lacking Follow Through

*RES 4: Idr13820 - High Feb 3 2016 

*RES 3: Idr13698 - High June 2 2016 

*RES 2: Idr13585 - 2016 High Dec 1 

*RES 1: Idr13550 - 2017 High Sept 28

*PRICE: Idr13510 @ 2300GMT

*SUP 1: Idr13485 - High Jan 3 now support 

*SUP 2: Idr13435 - High Sept 27 now support 

*SUP 3: Idr13415 - High May 19 now support 

*SUP 4: Idr13410 - High July 7 & 10 now support

*COMMENTARY: The recovery from 2017 lows has resulted in fresh 2017 and 10mth

highs with immediate bullish focus on Dec 2016 monthly highs. The move does look

a little overdone which increases the risk of a correction. Bears now look for a

close below Idr13485 to ease bullish pressure and hint at a correction back to

Idr13380-435. O/B daily studies and the Bollinger top (Idr13461) remain key

concerns for bulls.

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

[TOPICS: MTABLE]