Free Trial

Preview $53B 7Y Note Auction


30Y Bond Auction


Midday Put Trade


(H2)‌‌ Support Remains Exposed

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
1 November 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
DOLLAR-SING TECHS: Sgd1.3558-93 Support Region Key
*RES 4: Sgd1.3720 - High July 17 
*RES 3: Sgd1.3690 - Bollinger band top 
*RES 2: Sgd1.3677 - Hourly resistance Oct 27 
*RES 1: Sgd1.3641 - Hourly resistance Oct 30
*PRICE: Sgd1.3624 @ 2200GMT
*SUP 1: Sgd1.3593 - 21-DMA 
*SUP 2: Sgd1.3558 - 55-DMA, Daily Bull channel base 
*SUP 3: Sgd1.3496 - Bollinger band base 
*SUP 4: Sgd1.3484 - Low Oct 13
*COMMENTARY: Focus returned to Sgd1.3558-93 where the daily bull channel base,
21 & 55-DMAs are located this week following the close below the 100-DMA
(Sgd1.3632). Bears need a close below the channel base to shift immediate focus
to Sgd1.3484 and overall focus back to tests of 2017 lows (Sgd1.3343). Initial
resistance remains at Sgd1.3641 with bulls needing a close above to ease
pressure on key supports.
DOLLAR-WON TECHS: Remains Heavy, Krw1119.0 Support Key
*RES 4: Krw1132.2 - 21-DMA
*RES 3: Krw1131.9 - 55-DMA
*RES 2: Krw1126.8 - High Oct 30
*RES 1: Krw1123.5 - Low Oct 30 now resistance
*PRICE: Krw1124.6 @ 2300GMT
*SUP 1: Krw1119.8 - 200-WMA
*SUP 2: Krw1119.0 - Low Aug 28, Bollinger band base
*SUP 3: Krw1114.3 - High July 27 now support
*SUP 4: Krw1110.5 - 2017 Low Mar 28
*COMMENTARY: Gapping moves left the pair again looking heavy following last
week's topside failures ahead of key DMAs with focus back to Krw1119.0-1119.8
where the 200-WMA is located. Bears continue to look for a close below Krw1119.0
to confirm focus on tests of 2017 lows (Krw1110.5). Bulls now look for a close
above Krw1126.8 to gain breathing room and hint at a bounce back to the 55-DMA.
DOLLAR-MYR TECHS: 100-DMA Capped Last Week
*RES 4: Myr4.2860 - High Aug 30 
*RES 3: Myr4.2680 - High Sept 5 
*RES 2: Myr4.2590 - 100-DMA 
*RES 1: Myr4.2558 - High Oct 26
*PRICE: Myr4.2320 @ 2300GMT
*SUP 1: Myr4.2100 - Low Oct 30 
*SUP 2: Myr4.2062 - Low Oct 16 
*SUP 3: Myr4.1940 - Low Oct 13 
*SUP 4: Myr4.1870 - Low Sept 20
*COMMENTARY: The 100-DMA caped rallies last week with bulls needing a close
above Myr4.2680 to confirm a break and hint at a move back to Myr4.3112-3282
where the 200-DMA is noted. Bulls look for a close above My4.2860 to add support
to their case. Bears now look for a close below Myr4.2100 to shift focus back to
Myr4.1800-1940 following the lack of downside follow through Friday & Monday.
DOLLAR-CNH TECHS: Bears Need Close Below Cnh6.5923
*RES 4: Cnh6.6904 - High Oct 3 
*RES 3: Cnh6.6819 - Bollinger band top 
*RES 2: Cnh6.6795 - 100-DMA 
*RES 1: Cnh6.6651 - High Oct 27
*PRICE: Cnh6.6316 @ 2300GMT
*SUP 1: Cnh6.6207 - 21-DMA
*SUP 2: Cnh6.6074 - 55-DMA
*SUP 3: Cnh6.5923 - High Oct 11 now support
*SUP 4: Cnh6.5568 - Low Oct 11
*COMMENTARY: Daily studies correcting from modestly O/B is a concern for bulls
especially given hesitation ahead of the 100-DMA. Layers of support remain but
bears need a close below Cnh6.5923 to confirm breaks of 21 & 55-DMAs, easing
renewed bullish pressure, and below Cnh6.5568 to initially pressure Cnh6.5053.
The Cnh6.6904 resistance remains key with bulls needing a close above to
reconfirm a bullish bias and target the 200-DMA (Cnh6.7707).
DOLLAR-PHP TECHS: Looking A Little Heavy
*RES 4: Php52.560 - Low July 18 2006 now resistance 
*RES 3: Php52.431 - Daily Bull channel top 
*RES 2: Php52.085 - Monthly Low July 10 2006 now resistance 
*RES 1: Php51.850 - 2017 High Oct 27
*PRICE: Php51.610 @ 2300GMT
*SUP 1: Php51.532 - Daily Bull channel base A 
*SUP 2: Php51.363 - 21-DMA 
*SUP 3: Php51.350 - Low Oct 18 
*SUP 4: Php51.161 - 55-DMA
*COMMENTARY: Daily studies at O/B levels and the Bollinger top (Php51.885)
recently capping appear to be impacting with the pair looking a little heavy
after trading at fresh 2017 highs last week. Focus now shifts to 21 & 55-DMAs.
Bulls now need a close above 2017 highs to reconfirm the bullish bias and
initially focus on tests of Php52.085.
DOLLAR-THB TECHS: Thb33.10 Support Remains Key
*RES 4: Thb33.54 - High Oct 3 
*RES 3: Thb33.42 - Bollinger band top 
*RES 2: Thb33.41 - 100-DMA 
*RES 1: Thb33.35 - High Oct 27
*PRICE: Thb33.22 @ 2300GMT
*SUP 1: Thb33.10 - Low Oct 26 
*SUP 2: Thb33.01 - 2017 Low Sept 7 & 8, Oct 16 
*SUP 3: Thb32.98 - Monthly Low May 1 2015 
*SUP 4: Thb32.52 - Low Apr 27 2015
*COMMENTARY: The break of Thb33.25 has so far lacked follow through but is
enough to see bulls focused on Thb33.35-41 where the 100-DMA is located. Bears
now need a close below Thb35.10 to confirm a false break higher and see
immediate focus return to 2017 lows and the Thb32.98-33.01 region as a whole.
Narrowing Bollinger bands are hinting at a break out.
DOLLAR-IDR TECHS: Daily Studies Correcting From O/B
*RES 4: Idr13698 - Monthly High June 2 2016 
*RES 3: Idr13649 - Rising TL off Sept & Oct highs 
*RES 2: Idr13640 - 2017 High Oct 27 
*RES 1: Idr13605 - High Oct 30
*PRICE: Idr13560 @ 2300GMT
*SUP 1: Idr13525 - 21-DMA 
*SUP 2: Idr13500 - Low Oct 23 
*SUP 3: Idr13455 - Low Oct 5 
*SUP 4: Idr13450 - Bollinger band base
*COMMENTARY: Daily studies now correcting from O/B are a key concern for bulls
and have resulted in a break and close below the daily bull channel base
(Idr13598). Immediate focus has shifted to the 21-DMA with bears needing a close
below to add weight to their case for a move back to Idr13455. Bulls now need a
close above Idr13605 to ease bearish pressure and return immediate focus to 2017
DOLLAR-INR TECHS: Topside Failures Taking Their Toll
*RES 4: Inr65.525 - Bollinger band top 
*RES 3: Inr65.413 - High Oct 9 
*RES 2: Inr65.2047 - 200-DMA 
*RES 1: Inr65.003 - Daily Bear channel top
*PRICE: Inr64.745 @ 2300GMT
*SUP 1: Inr64.685 - Low Oct 16 
*SUP 2: Inr64.645 - Bollinger band base 
*SUP 3: Inr64.543 - 55-DMA 
*SUP 4: Inr64.466 - 100-DMA
*COMMENTARY: Having remained capped ahead of the 21 (Inr65.085) and 200-DMAs on
the recovery from Inr64.685 the pair is again looking heavy with immediate focus
on Inr64.685. Bears need a close below to shift focus to Inr64.190-543 where 55
& 100-DMAs and the bear channel base are situated. The Bollinger base is the key
concern for bears with potential to limit follow through. Bulls need a close
above the 200-DMA to end bearish hopes and shift focus back to Inr65.413-890.
--MNI Beijing Bureau; tel: +44 207-862-7435; email:
Sign up now for free access to this content.

Please enter your details below and select your areas of interest.