MNI Dollar-Asia Morning FX Technical Analysis

20 October 2017

By Kyle Shortland

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

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DOLLAR-SING TECHS: Topside Follow Through Lacking

*RES 4: Sgd1.3720 - High July 17 

*RES 3: Sgd1.3690 - High Oct 6 

*RES 2: Sgd1.3647 - 100-DMA, Daily bear channel top 

*RES 1: Sgd1.3594 - High Oct 19

*PRICE: Sgd1.3564 @ 2200GMT

*SUP 1: Sgd1.3548 - Low Oct 19 

*SUP 2: Sgd1.3530 - High Oct 17 now support 

*SUP 3: Sgd1.3484 - Low Oct 13 

*SUP 4: Sgd1.3457 - Bollinger band base

*COMMENTARY: Topside hesitation continues to be somewhat lacking which is a

concern for bulls who are looking to gain traction for a test of the 100-DMA and

daily bear channel top. Layers of support are starting to build and add to

bullish confidence with bears needing a close below Sgd1.3530 to ease pressure

on resistance layers and below Sgd1.3484 to shift focus back to 20 17 lows

(Sgd1.3342).

DOLLAR-WON TECHS: Krw1125.1 & 21-DMA Levels Key

*RES 4: Krw1143.0 - High Oct 10

*RES 3: Krw1140.1 - 200-DMA

*RES 2: Krw1137.7 - High Oct 11

*RES 1: Krw1133.7 - 21-DMA

*PRICE: Krw1132.4 @ 2300GMT

*SUP 1: Krw1125.1 - Low Sept 8

*SUP 2: Krw1122.6 - Bollinger band base

*SUP 3: Krw1119.0 - Low Aug 28

*SUP 4: Krw1114.3 - High July 27 now support

*COMMENTARY: The recovery from ahead of the Krw1125.1 support has stalled ahead

of the 21-DMA. Bulls continue to look for a close above the 21-DMA to ease

bearish pressure and above Krw1137.7 to shift focus back to the 200-DMA. The

Krw1125.1 support remains key. Bears continue to look for a close below this

level to shift overall focus back to 2017 lows. Daily studies have room to move

before O/S becomes an issue.

DOLLAR-MYR TECHS: Above Myr4.2680 To Shift Focus To 200-DMA

*RES 4: Myr4.2550 - High Sept 28 

*RES 3: Myr4.2446 - 55-DMA 

*RES 2: Myr4.2396 - Daily Bear channel top 

*RES 1: Myr4.2350 - High Oct 9

*PRICE: Myr4.2230 @ 2300GMT

*SUP 1: Myr4.2062 - Low Oct 16 

*SUP 2: Myr4.1940 - Low Oct 13 

*SUP 3: Myr4.1870 - Low Sept 20 

*SUP 4: Myr4.1810 - 2017 Low Sept 8

*COMMENTARY: The lack of follow through on Friday's dip was less than ideal for

bears and resulted in a break of Myr4.2242 although follow through has been

lacking. Overall the Myr4.2396-2680 resistance region is key with bulls needing

a close above Myr4.2680 to end bearish hope and target Myr4.3112-3380 where the

200-DMA is situated. Bears now need a close below Myr4.2062 to ease pressure on

resistance layers and retain focus on tests of 2017 lows.

DOLLAR-CNH TECHS: Bears Need Close Below Cnh6.5923

*RES 4: Cnh6.6909 - 100-DMA 

*RES 3: Cnh6.6904 - High Oct 3 

*RES 2: Cnh6.6639 - High Oct 9

*RES 1: Cnh6.6400 - High Oct 19

*PRICE: Cnh6.6189 @ 2300GMT

*SUP 1: Cnh6.5923 - High Oct 11 now support

*SUP 2: Cnh6.5568 - Low Oct 11

*SUP 3: Cnh6.5409 - Low Sept 18 

*SUP 4: Cnh6.5219 - Low Sept 13

*COMMENTARY: The lack of topside follow through on the break of Cnh6.6346 is

less than ideal and leaves the pair looking a little heavy. Immediate focus has

returned to the Cnh6.5923 support with bears needing a close below to ease

renewed bullish pressure and return immediate focus to the Cnh6.5568 support.

Below this level initially targets Cnh6.6053. Correcting O/S studies remain the

key concern for bears.

DOLLAR-PHP TECHS: Bulls Need Close Above Php51.700

*RES 4: Php52.560 - Low July 18 2006 now resistance 

*RES 3: Php52.085 - Monthly Low July 10 2006 now resistance 

*RES 2: Php51.700 - High Aug 3 2006 

*RES 1: Php51.630 - High Oct 3

*PRICE: Php51.530 @ 2300GMT

*SUP 1: Php51.350 - Low Oct 18 

*SUP 2: Php51.160 - Low Oct 10 

*SUP 3: Php51.127 - 21-DMA 

*SUP 4: Php51.000 - 55-DMA

*COMMENTARY: Consolidation above the 21-DMA continues with bulls needing a close

above Php51.700 to confirm focus on the Php52.085-56 region. The Bollinger band

top (Php51.598) and daily studies lingering around modestly O/B levels are seen

as concerns for bulls. In saying that, bears now need a close below Php51.35 to

ease immediate bullish pressure and below the 55-DMA to hint at a deeper

sell-off.

DOLLAR-THB TECHS: Bulls Need Close Above Thb33.25

*RES 4: Thb33.70 - High July 20 

*RES 3: Thb33.54 - High Oct 3 

*RES 2: Thb33.46 - 100-DMA 

*RES 1: Thb33.25 - High Oct 11

*PRICE: Thb33.14 @ 2300GMT

*SUP 1: Thb33.01 - 2017 Low Sept 7 & 8, Oct 16 

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

*SUP 3: Thb32.96 - Bollinger band base 

*SUP 4: Thb32.52 - Low Apr 27 2015

*COMMENTARY: Layers of resistance remain Thb33.20-25 where 21 & 55-DMAs are

situated. Bulls continue to look for a close above Thb33.25 to ease immediate

bearish pressure and above Thb33.54 to confirm a break of the 100-DMA and bear

channel top (Thb33.39) and to target Thb33.70-88. While Thb33.25 caps bears

retain the advantage with a close below Thb32.98 needed to shift initial focus

to Thb32.52.

DOLLAR-IDR TECHS: Idr13455 Support Now Key

*RES 4: Idr13754 - Daily Bull channel top 

*RES 3: Idr13616 - Bollinger band top 

*RES 2: Idr13585 - High Dec 1 2016, 2017 High Oct 3 

*RES 1: Idr13533 - Low Oct 3 now resistance

*PRICE: Idr13521 @ 2300GMT

*SUP 1: Idr13480 - Low Oct 17 

*SUP 2: Idr13465 - 21-DMA 

*SUP 3: Idr13455 - Low Oct 5 

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

*COMMENTARY: Consolidation above Idr13455 sees bulls gaining confidence with

immediate focus on Idr13533. Bulls need a close above this level to reconfirm

the bullish bias and above 2017 highs to focus on the daily bull channel top.

Idr13455 is once again key support. Bears need a close below to ease bullish

pressure and shift focus back to Idr13338-13367 where 55, 100 & 200-DMAs are

clustered.

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

[TOPICS: MTABLE]