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Free AccessMNI Gilt Week Ahead
MNI Dollar-Asia Morning FX Technical Analysis
24 October 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/pzkomnu
DOLLAR-SING TECHS: Bulls Need Close Above 100-DMA
*RES 4: Sgd1.3787 - High July 13
*RES 3: Sgd1.3720 - High July 17
*RES 2: Sgd1.3690 - High Oct 6
*RES 1: Sgd1.3643 - 100-DMA, Daily bear channel top
*PRICE: Sgd1.3617 @ 2200GMT
*SUP 1: Sgd1.3574 - Hourly support Oct 20
*SUP 2: Sgd1.3559 - 55-DMA
*SUP 3: Sgd1.3548 - Low Oct 19
*SUP 4: Sgd1.3530 - High Oct 17 now support
*COMMENTARY: Topside hesitation came to an end with a close above Sgd1.3594 that
sees immediate pressure on the 100-DMA and bear channel top. Bulls look for a
close above these levels to confirm focus on tests of Sgd1.3688-1.3720. Layers
of support are following the pair higher with bears now needing a close below
the 55-DMA to ease bullish pressure and shift focus back to Sgd1.3484 Oct lows
so far.
DOLLAR-WON TECHS: Continues To Struggle Above 21-DMA
*RES 4: Krw1143.0 - High Oct 10
*RES 3: Krw1139.4 - 200-DMA
*RES 2: Krw1137.7 - High Oct 11
*RES 1: Krw1135.0 - High Oct 23
*PRICE: Krw1131.0 @ 2300GMT
*SUP 1: Krw1125.1 - Low Sept 8
*SUP 2: Krw1122.7 - 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 around
the 21-DMA (Krw1133.7) with the pair rejected above Monday. Bulls now look for a
close above Krw1135.0 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 reconfirm a bearish bias and to shift
overall focus back to 2017 lows.
DOLLAR-MYR TECHS: Pressure Remains On 55-DMA
*RES 4: Myr4.2680 - High Sept 5
*RES 3: Myr4.2610 - 100-DMA
*RES 2: Myr4.2550 - High Sept 28
*RES 1: Myr4.2427 - 55-DMA
*PRICE: Myr4.2365 @ 2300GMT
*SUP 1: Myr4.2120 - Low Oct 23
*SUP 2: Myr4.2062 - Low Oct 16
*SUP 3: Myr4.1940 - Low Oct 13
*SUP 4: Myr4.1870 - Low Sept 20
*COMMENTARY: Rallies remain capped ahead of the 55-DMA with the Myr4.2550-2680
resistance region above also a concern. Overall bulls need a close above
Myr4.2680 to confirm breaks of 55 & 100-DMAs, ending bearish hopes and shifting
immediate focus to Myr4.3112 Aug highs. Initial support is noted at Myr4.2120
with bears needing a close below to shift focus back to Myr4.1800-1940.
DOLLAR-CNH TECHS: 55-DMA Now Supporting
*RES 4: Cnh6.6904 - High Oct 3
*RES 3: Cnh6.6879 - 100-DMA
*RES 2: Cnh6.6639 - High Oct 9
*RES 1: Cnh6.6437 - High Oct 23
*PRICE: Cnh6.6229 @ 2300GMT
*SUP 1: Cnh6.6125 - 55-DMA
*SUP 2: Cnh6.5568 - Low Oct 11
*SUP 3: Cnh6.5409 - Low Sept 18
*SUP 4: Cnh6.5219 - Low Sept 13
*COMMENTARY: Bulls take comfort in gains to start the new week with support
emerging ahead of the 55-DMA and focus now having returned to the
Cnh6.6639-6.6904 region where the 100-DMA is noted. The Cnh6.5923 support is now
key this week with bears needing a close below to ease renewed bullish pressure
and below Cnh6.5568 to initially pressure Cnh6.5053. Daily studies are at
neutral levels and giving few clues.
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: Php51.510 @ 2300GMT
*SUP 1: Php51.350 - Low Oct 18
*SUP 2: Php51.169 - 21-DMA
*SUP 3: Php51.160 - Low Oct 10
*SUP 4: Php51.035 - 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 (Php51.678) and daily studies lingering around modestly O/B levels are seen
as concerns for bulls. In saying that, bears now need a close below Php51.350 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: Thb33.54 - High Oct 3
*RES 3: Thb33.46 - 100-DMA
*RES 2: Thb33.36 - Daily Bear channel top
*RES 1: Thb33.25 - High Oct 11
*PRICE: Thb33.16 @ 2300GMT
*SUP 1: Thb33.01 - 2017 Low Sept 7 & 8, Oct 16
*SUP 2: Thb32.98 - Monthly Low May 1 2015, Bollinger band base
*SUP 3: Thb32.52 - Low Apr 27 2015
*SUP 4: Thb32.40 - Daily Bear channel base
*COMMENTARY: The Thb33.25 resistance continues to cap attempts to break above
the 21 (Thb33.23) & 55 (Thb33.20) DMAs with bulls needing a close above Thb33.25
to ease immediate bearish pressure. A close above Thb33.54 is then needed to
shift immediate focus back to Thb33.70-80. While Thb33.25 caps bears retain the
advantage and look for a close below Thb32.98 to target Thb32.40-52 where the
bear channel base it noted.
DOLLAR-IDR TECHS: Idr13455 Support Now Key
*RES 4: Idr13767 - Daily Bull channel top
*RES 3: Idr13698 - Monthly High June 2 2016
*RES 2: Idr13592 - Bollinger band top
*RES 1: Idr13585 - High Dec 1 2016, 2017 High Oct 3
*PRICE: Idr13540 @ 2300GMT
*SUP 1: Idr13500 - Low Oct 23
*SUP 2: Idr13488 - 21-DMA
*SUP 3: Idr13480 - Low Oct 17
*SUP 4: Idr13455 - Low Oct 5
*COMMENTARY: Consolidation above Idr13455 sees bulls gaining confidence with
immediate focus now on Idr13585 2017 highs. Bulls need a close above 2017 highs
to focus on the daily bull channel top. Idr13455 is once again key support.
Bears need a close below to confirm a break of the 21-DMA, easing bullish
pressure and shifting focus back to Idr13341-13378 where 55, 100 & 200-DMAs are
clustered.
--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.