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Free AccessMNI Dollar-Asia Morning FX Technical Analysis
12 October 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: Bears Need Close Below Sgd1.3528
*RES 4: Sgd1.3666 - 100-DMA
*RES 3: Sgd1.3655 - High Oct 9
*RES 2: Sgd1.3607 - Hourly resistance Oct 10a
*RES 1: Sgd1.3580 - High Oct 11
*PRICE: Sgd1.3539 @ 2200GMT
*SUP 1: Sgd1.3528 - Low Oct 11
*SUP 2: Sgd1.3430 - Low Sept 22
*SUP 3: Sgd1.3413 - Bollinger band base
*SUP 4: Sgd1.3399 - Low Sept 20
*COMMENTARY: Bears now look for a close below Sgd1.3528 to confirm breaks of
DMAs and to shift immediate focus to Sgd1.3430 and overall focus to
Sgd1.3299-1.3343 where the daily bear channel base and 2017 lows are located.
Bulls now need a close above Sgd1.3580 to ease immediate bearish pressure and
above Sgd1.3720 to confirm a break of the 100-DMA and bear channel top with
immediate focus shifting to Sgd1.3787.
DOLLAR-WON TECHS: Bears Need Close Below Krw1125.1
*RES 4: Krw1150.0 - High Sept 28
*RES 3: Krw1143.0 - High Oct 10
*RES 2: Krw1141.7 - 200-DMA
*RES 1: Krw1137.7 - High Oct
*PRICE: Krw1135.2 @ 2200GMT
*SUP 1: Krw1131.9 - Low Oct 11
*SUP 2: Krw1131.0 - 100-DMA
*SUP 3: Krw1129.9 - 55-DMA
*SUP 4: Krw1129.5 - Rising daily TL
*COMMENTARY: Bears took comfort in the aggressive sell-off and bearish close
Tuesday that sees pressure back on Krw1129.5-1131.9 where key DMAs and the
rising daily TL off July lows are situated. Bears look for a close below
Krw1125.1 to confirm breaks and shift overall focus to tests of 2017 lows. Bulls
now need a close above Krw1143.0 to ease bearish pressure and above Krw1150.0 to
confirm a bullish bias and above Krw1157.8 to target 2017 highs.
DOLLAR-MYR TECHS: Myr4.2680 Resistance Remains Key
*RES 4: Myr4.2656 - 100-DMA
*RES 3: Myr4.2550 - High Sept 28
*RES 2: Myr4.2511 - 55-DMA
*RES 1: Myr4.2487 - Daily Bear channel top
*PRICE: Myr4.2226 @ 2300GMT
*SUP 1: Myr4.2100 - Low Oct 11
*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 confirmed significance during Sept
with the pair bouncing aggressively from a dip back in past weeks. The pair
remains capped ahead of the Myr4.2487-2680 resistance region with bulls needing
a close above Myr4.2680 to end bearish hopes and shift focus to Myr4.3112. Bears
now need a close below Myr4.2100 to confirm a break of the 21-DMA (Myr4.2136)
and return pressure to Myr4.1800-70.
DOLLAR-CNH TECHS: Below Cnh6.5568 To Target 2017 Lows
*RES 4: Cnh6.6639 - High Oct 9
*RES 3: Cnh6.6313 - 55-DMA
*RES 2: Cnh6.6070 - 21-DMA
*RES 1: Cnh6.5923 - High Oct 11
*PRICE: Cnh6.5659 @ 2300GMT
*SUP 1: Cnh6.5568 - Low Oct 11
*SUP 2: Cnh6.5409 - Low Sept 18
*SUP 3: Cnh6.5219 - Low Sept 13
*SUP 4: Cnh6.5053 - Low Sept 11
*COMMENTARY: Previously noted topside hesitation has taken its toll with a
sell-off to start the new week that has been followed up with closes below the
21-DMA. Bears now look for a close below Cnh6.5568 to confirm immediate focus on
Cnh6.5053 and overall focus on 2017 lows. Bulls now need a close above the
21-DMA to ease immediate bearish pressure and above the 55-DMA to shift focus
back to Cnh6.6639-6904.
DOLLAR-PHP TECHS: Bears Need Close Below Php51.295
*RES 4: Php52.085 - Monthly Low July 10 2006 now resistance
*RES 3: Php51.700 - High Aug 3 2006
*RES 2: Php51.630 - High Oct 3
*RES 1: Php51.560 - High Oct 11
*PRICE: Php51.350 @ 2300GMT
*SUP 1: Php51.295 - High Sept 15 now support
*SUP 2: Php51.043 - 21-DMA
*SUP 3: Php50.929 - 55-DMA
*SUP 4: Php50.771 - Daily Bull channel base
*COMMENTARY: The recovery from a test of the 55-DMA last week has resulted in a
close above key levels that now sees bullish focus back on 2017 highs and the
Php52.085-56 region. The Bollinger band top (Php51.394) is the key concern for
bulls with potential to limit follow through. Bears continue to look for a close
below Php51.295 to ease bullish pressure and shift focus back to tests of 21 &
55-DMAs.
DOLLAR-THB TECHS: Looking A Little Heavy
*RES 4: Thb33.70 - High July 20
*RES 3: Thb33.54 - High Oct 3
*RES 2: Thb33.52 - 100-DMA
*RES 1: Thb33.25 - High Oct 11
*PRICE: Thb33.17 @ 2300GMT
*SUP 1: Thb33.14 - Low Oct 11
*SUP 2: Thb33.01 - 2017 Low Sept 7 & 8
*SUP 3: Thb32.98 - Monthly Low May 1 2015
*SUP 4: Thb32.96 - Bollinger band base
*COMMENTARY: The topside failures ahead of the 100-DMA took their toll with
pressure on the 21 & 55-DMAs (Thb33.22) resulting in a close below Wednesday and
focus having returned to tests of 2017 lows. Daily studies are well placed for
further losses. Bulls now need a close above Thb33.25 to ease immediate bearish
pressure and above Thb33.54 to confirm a break of the 100-DMA and to target
Thb33.70-88.
DOLLAR-IDR TECHS: Bulls Need Close Above Idr13533
*RES 4: Idr13698 - High June 2 2016
*RES 3: Idr13625 - Bollinger band top
*RES 2: Idr13585 - High Dec 1 2016, 2017 High Oct 3
*RES 1: Idr13533 - Low Oct 3 now resistance
*PRICE: Idr13515 @ 2300GMT
*SUP 1: Idr13475 - Low Oct 10
*SUP 2: Idr13455 - Low Oct 5
*SUP 3: Idr13415 - High May 19 now support
*SUP 4: Idr13410 - High July 7 & 10 now support
*COMMENTARY: The lack of follow through on recent 2017 highs has taken its toll
with daily studies correcting from O/B now seen weighing. The Idr13415 support
remains key with bears needing a close below to shift focus back to key DMAs
clustered tightly 13334-351. Layers of resistance are starting to accumulate
with bulls needing a close above Idr13533 to return immediate focus to retests
of 2017 highs.
--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.