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Expiries for Mar 03 NY cut 1000ET (Source DTCC)


Focus On Tomorrow's Budget


(K1) Bullish Conditions Intact

1 December 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
DOLLAR-SING TECHS: Sgd1.3528-71 Resistance Region Remains Key
*RES 4: Sgd1.3571 - 100-DMA 
*RES 3: Sgd1.3541 - Daily Bear channel top 
*RES 2: Sgd1.3528 - 200-WMA 
*RES 1: Sgd1.3507 - High Nov 30
*PRICE: Sgd1.3484 @ 2300GMT
*SUP 1: Sgd1.3457 - Low Nov 30 
*SUP 2: Sgd1.3430 - Low Sept 22 
*SUP 3: Sgd1.3399 - Low Sept 20 
*SUP 4: Sgd1.3342 - 2017 Low Sept 8
*COMMENTARY: O/S daily studies appear to be impacting with support emerging on
dips a concern for bears. Bulls continue to look for a close above the 200-WMA
to ease bearish pressure and above the 100-DAM to shift initial focus to
Sgd1.3659. Initial support is noted at Thursday's low with a close below needed
to ease pressure on the 200-WMA. While the 200-WMA caps bears focus on 2017
DOLLAR-WON TECHS: Bulls Need Close Above Krw1094.0
*RES 4: Krw1102.3 - 21-DMA
*RES 3: Krw1101.4 - High Nov 20
*RES 2: Krw1094.0 - High Nov 22
*RES 1: Krw1090.9 - High Nov 28
*PRICE: Krw1088.2 @ 2300GMT
*SUP 1: Krw1085.0 - High Nov 29 now support
*SUP 2: Krw1075.5 - 2017 Low Nov 29
*SUP 3: Krw1066.6 - 2015 Low Apr 29 2015
*SUP 4: Krw1062.0 - High Oct 24 2014 now support
*COMMENTARY: The lack of follow through after recent 2017 and 2+ year lows is a
concern for bears when combined with correcting O/S daily studies and the
Bollinger base (Krw1074.8) limiting follow through. In saying that, bulls still
need a close above Krw1094.0 to shift focus back to Krw1101.4-1110.5 where the
21-DMA (Krw1102.3) is located. Bears need a close below Krw1085.0 to retain
focus on 2015 lows and then the Krw1045.6 Oct monthly low from 2014.
DOLLAR-MYR TECHS: Increased Correction Risk
*RES 4: Myr4.1725 - Lows Nov 10 & 15 now resistance 
*RES 3: Myr4.1669 - 21-DMA 
*RES 2: Myr4.1423 - High Nov 24 
*RES 1: Myr4.1311 - High Nov 28
*PRICE: Myr4.0877 @ 2300GMT
*SUP 1: Myr4.0799 - Daily Bear channel base 
*SUP 2: Myr4.0626 - Bollinger band base 
*SUP 3: Myr4.0370 - Monthly Low Sept 8 2016 
*SUP 4: Myr4.0135 - Low Aug 26 2016
*COMMENTARY: The 100-DMA capped rallies in recent weeks resulting in a sell-off
to repeated fresh 2017 and 13mth lows with bears focused on Myr4.0135-0370.
Immediate pressure is now on the bear channel base. O/S daily studies and the
Bollinger base remain key concerns. Bulls need a close above Myr4.1423 to ease
immediate bearish pressure and above Myr4.1725 to shift immediate focus back to
Myr4.2020-2050 where the 55-DMA is situated.
DOLLAR-CNH TECHS: Cnh6.5568-5933 Support Key
*RES 4: Cnh6.6904 - High Oct 3 
*RES 3: Cnh6.6651 - High Oct 27 
*RES 2: Cnh6.6388 - 100-DMA 
*RES 1: Cnh6.6279 - High Nov 30
*PRICE: Cnh6.6101 @ 2300GMT
*SUP 1: Cnh6.5933 - Low Nov 27
*SUP 2: Cnh6.5674 - Low Nov 24
*SUP 3: Cnh6.5568 - Low Oct 11
*SUP 4: Cnh6.5409 - Low Sept 18
*COMMENTARY: Bulls take comfort in the recovery that sees the pair working its
way through resistance layers and DMAs. Follow through above the 21 & 55-DMA has
been lacking with bulls now needing a close above the 100-DMA to add support to
the case for a move back to the 200-DMA with above Cnh6.6904 needed to confirm.
Bears continue to look for a close below Cnh6.5933 to ease pressure on DMAs and
below Cnh6.5568 to confirm focus on tests of Cnh6.5053.
DOLLAR-PHP TECHS: Php50.480-750 Resistance Region Now Key
*RES 4: Php51.124 - 55-DMA 
*RES 3: Php51.030 - High Nov 20 
*RES 2: Php50.750 - High Nov 24 
*RES 1: Php50.480 - 200-DMA
*PRICE: Php50.270 @ 2300GMT
*SUP 1: Php50.140 - Monthly Low Aug 4 
*SUP 2: Php50.104 - Daily bear channel base 
*SUP 3: Php49.970 - Low June 20 
*SUP 4: Php49.770 - Low June 16
*COMMENTARY: Pressure on the 200-DMA took its toll with the first close below
since Sept 2016 adding weight to the bearish case. Immediate bearish focus
shifts to Php50.104-140. O/S daily studies and Bollinger base (Php50.263) remain
key concerns for bears. The 200-DMA is initial resistance with bulls needing a
close above to ease immediate bearish pressure and above Php50.750 shift focus
to Php50.972-230 where key DMAs are located.
DOLLAR-THB TECHS: Above Thb32.77 To Ease Bearish Pressure
*RES 4: Thb33.07 - High Nov 15 
*RES 3: Thb32.92 - High Nov 17 
*RES 2: Thb32.88 - 21-DMA 
*RES 1: Thb32.77 - High Nov 22
*PRICE: Thb32.62 @ 2300GMT
*SUP 1: Thb33.48 - 2017 Low Nov 29 
*SUP 2: Thb32.26 - 2015 Lows Feb 26 & Apr 17 & 20 2015 
*SUP 3: Thb32.19 - Monthly Low Oct 21 2014 
*SUP 4: Thb32.04 - Daily Bear channel base
*COMMENTARY: Repeated fresh 2017 lows added weight to the bearish case with
overall focus on tests of the bear channel base. O/S daily studies and the
Bollinger bases remain key concerns for bears. In saying that, bulls still need
a close above Thb32.77 to ease immediate bearish pressure and hint at a
correction back to Thb32.88-33.17 where 21, 55 & 100-DMAs and the bear channel
top (Thb33.00) are located.
DOLLAR-IDR TECHS: Bulls Need Close Above Inr64.6300
*RES 4: Inr65.1375 - Low Nov 
*RES 3: Inr64.8781 - 55-DMA 
*RES 2: Inr64.8545 - 200-DMA 
*RES 1: Inr64.6300 - High Nov 30
*PRICE: Inr64.3100 @ 2300GMT
*SUP 1: Inr64.2449 - Daily Bear channel base 
*SUP 2: Inr64.2251 - Bollinger band base 
*SUP 3: Inr63.7750 - Monthly Low Sept 8 
*SUP 4: Inr63.5600 - 2017 Low Aug 3
*COMMENTARY: Failure to gain traction on pops above the LT falling TL
(Inr65.2656) off Nov 2016 highs in recent weeks resulted in a sell off that sees
bears pressuring the daily bear channel base and a close below to confirm focus
on 2017 lows. Bulls now need a close above Inr64.6300 to ease bearish pressure
and above the 55-DMA to shift focus to layers of resistance Inr65.1375-5425. O/S
daily studies remain a concern for bears.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: