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Free AccessMNI Dollar-Asia Morning FX Technical Analysis
3 October 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/pzkomnu
DOLLAR-SING TECHS: Sgd1.3646-1.3720 Resistance Region Remains Key
*RES 4: Sgd1.3688 - Monthly High Aug 15
*RES 3: Sgd1.3686 - 100-DMA
*RES 2: Sgd1.3663 - Daily Bear channel top
*RES 1: Sgd1.3646 - High Sept 28
*PRICE: Sgd1.3615 @ 2200GMT
*SUP 1: Sgd1.3566 - 55-DMA
*SUP 2: Sgd1.3538 - High Sept 14 now support
*SUP 3: Sgd1.3502 - 21-DMA
*SUP 4: Sgd1.3430 - Low Sept 22
*COMMENTARY: The 55-DMA has supported to start the new week with the bounce
seeing pressure back on key resistance layers Sgd1.3646-1.3720. Bulls continue
to look for a close above Sgd1.3720 to confirm a break of the 100-DMA and bear
channel top with immediate focus shifting to Sgd1.3787. Bears still need a close
below Sgd1.3538 to confirm a false break of the 55-DMA (Sgd1.3566) and below the
21-DMA to return focus to tests of 2017 lows.
DOLLAR-WON TECHS: Bears Need Close Below 200-DMA
*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: Krw1145.4 @ 2200GMT
*SUP 1: Krw1142.1 - 200-DMA
*SUP 2: Krw1137.5 - High Sept 26 now support
*SUP 3: Krw1133.0 - High Sept 25 now support
*SUP 4: Krw1129.8 - 55-DMA
*COMMENTARY: A gapping move higher and bullish close Thursday saw bullish
confidence boosted and bulls now focused on tests of July highs. Daily studies
have a little room to move but the Bollinger top (Krw1145.0) remains the key
concern with potential to limit follow through. Bears still 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 Last Week
*RES 4: Myr4.2722 - 100-DMA
*RES 3: Myr4.2593 - Daily Bear channel top
*RES 2: Myr4.2577 - 55-DMA
*RES 1: Myr4.2550 - High Sept 28
*PRICE: Myr4.2301 @ 2300GMT
*SUP 1: Myr4.2159 - 21-DMA
*SUP 2: Myr4.1870 - Low Sept 20
*SUP 3: Myr4.1810 - 2017 Low Sept 8
*SUP 4: Myr4.1700 - Low Oct 27
*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 Myr4.2577-2722 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 the 21-DMA to return pressure on
Myr4.1800-70.
DOLLAR-CNH TECHS: Cnh6.6053-6346 Support Key
*RES 4: Cnh6.7154 - Low Aug 1 now resistance
*RES 3: Cnh6.6962 - 100-WMA
*RES 2: Cnh6.6886 - High Aug 17
*RES 1: Cnh6.6785 - High Sept 28
*PRICE: Cnh6.6723 @ 2300GMT
*SUP 1: Cnh6.6346 - Low Sept 29
*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 spikes above the 55-DMA
(Cnh6.6476) with the pair gaining traction above Monday. 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 Cnh6.6346 to confirm a
break of the 55-DMA and below Cnh6.6053 to shift focus back to Cnh6.5573-5860
where the 21-DMA is located.
DOLLAR-PHP TECHS: Broad Sideways Trading Persists
*RES 4: Php51.390 - Low Aug 18 now resistance
*RES 3: Php51.295 - High Sept 15
*RES 2: Php51.272 - Bollinger band top
*RES 1: Php51.165 - High Sept 28
*PRICE: Php51.080 @ 2300GMT
*SUP 1: Php50.721 - Bollinger band base
*SUP 2: Php50.720 - Low Sept 27
*SUP 3: Php50.550 - Low Aug 9
*SUP 4: Php50.468 - 100-DMA
*COMMENTARY: Broad sideways trading within a Php50.550-51.295 range continues.
Bears look for a close below the 100-DMA to confirm a break to the downside with
immediate focus shifting to Php50.110-250 where the 200-DMA (Php50.209) is
located. Bulls continue to look for a close above Php51.295 to reconfirm the
bullish bias and initially pressure 2017 highs. The Bollinger base is the key
concern for bears with potential to limit follow through.
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: Thb33.61 - 100-DMA
*RES 1: Thb33.53 - High July 26
*PRICE: Thb33.41 @ 2300GMT
*SUP 1: Thb33.24 - 55-DMA
*SUP 2: Thb33.15 - 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 Thb34.16-28 with above Thb33.88 to confirm.
Bears need a close below the 55-DMA to ease bullish pressure and below the
21-DMA to pressure 2017 lows.
DOLLAR-IDR TECHS: Immediate Focus On Dec Highs
*RES 4: Idr13975 - 2016 High Jan 7
*RES 3: Idr13820 - High Feb 3 2016
*RES 2: Idr13698 - High June 2 2016
*RES 1: Idr13585 - High Dec 1 2016
*PRICE: Idr13535 @ 2300GMT
*SUP 1: Idr13470 - Low Oct 2
*SUP 2: Idr13415 - High May 19 now support
*SUP 3: Idr13410 - High July 7 & 10 now support
*SUP 4: Idr13332 - 200-DMA
*COMMENTARY: The recovery from 2017 lows has again resulted in fresh 2017 and
10mth highs with immediate bullish focus on Dec 2016 monthly highs. O/B daily
studies and the Bollinger band top (Idr13517) remain key concerns for bulls.
Bears now look for a close below Idr1.470 to ease immediate bullish pressure and
below Idr13415 to shift focus back to key DMAs Idr13314-13332.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.