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Free AccessMNI Dollar-Asia Morning FX Technical Analysis
4 December 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/pzkomnu
DOLLAR-SING TECHS: Sgd1.3528-67 Resistance Region Remains Key
*RES 4: Sgd1.3567 - 100-DMA
*RES 3: Sgd1.3560 - 55-DMA
*RES 2: Sgd1.3532 - 200-WMA, Daily Bear channel top
*RES 1: Sgd1.3507 - High Nov 30
*PRICE: Sgd1.3474 @ 2300GMT
*SUP 1: Sgd1.3440 - Hourly support Dec 1
*SUP 2: Sgd1.3415 - Low Dec 1
*SUP 3: Sgd1.3399 - Low Sept 20, Bear channel base
*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-DMA to shift initial focus to
Sgd1.3659. Initial support is noted at Sgd1.3440 with bears now needing a close
below Sgd1.3399 to reconfirm focus on 2017 lows.
DOLLAR-WON TECHS: Bulls Need Close Above Krw1094.0
*RES 4: Krw1101.4 - High Nov 20
*RES 3: Krw1100.9 - 21-DMA
*RES 2: Krw1094.0 - High Nov 22
*RES 1: Krw1090.9 - High Nov 28
*PRICE: Krw1086.4 @ 2300GMT
*SUP 1: Krw1080.3 - Low Nov 30
*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 (Krw1073.2) limiting follow through. In saying that, bulls still
need a close above Krw1094.0 to shift focus back to Krw1100.9-1110.5 where the
21-DMA is located. Bears need a close below Krw1080.3 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: Myr4.0785 - 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: Bulls Need Close Above 100-DMA
*RES 4: Cnh6.6904 - High Oct 3
*RES 3: Cnh6.6651 - High Oct 27
*RES 2: Cnh6.6354 - 100-DMA
*RES 1: Cnh6.6279 - High Nov 30
*PRICE: Cnh6.5964 @ 2300GMT
*SUP 1: Cnh6.5926 - Low Dec 1
*SUP 2: Cnh6.5674 - Low Nov 24
*SUP 3: Cnh6.5568 - Low Oct 11
*SUP 4: Cnh6.5409 - Low Sept 18
*COMMENTARY: Hesitation above 21 (Cnh6.6210) & 55 (Cnh6.6199) DMAs last week is
a concern for bulls and leaves the pair looking a little heavy having broken
Cnh6.5933. Immediate bearish focus shifts to Cnh6.5568-5674 with a close below
to target Cnh6.5033. Bulls now need 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.
DOLLAR-PHP TECHS: Above 200-DMA To Ease Bearish Pressure
*RES 4: Php51.103 - 55-DMA
*RES 3: Php51.030 - High Nov 20
*RES 2: Php50.750 - High Nov 24
*RES 1: Php50.483 - 200-DMA
*PRICE: Php50.370 @ 2300GMT
*SUP 1: Php50.140 - Monthly Low Aug 4
*SUP 2: Php50.049 - 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 is on
Php50.049-140. O/S daily studies and Bollinger base (Php50.216) 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
Php50.923-230 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: Thb32.83 - 21-DMA
*RES 1: Thb32.77 - High Nov 22
*PRICE: Thb32.65 @ 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: Thb32.02 - 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 Thb32.92-33.15 where 55 & 100-DMAs and the bear channel top
(Thb32.99) are located.
DOLLAR-IDR TECHS: Bears Need Close Below 55-DMA
*RES 4: Idr13640 - 2017 High Oct 27
*RES 3: Idr13605 - High Oct 30
*RES 2: Idr13558 - Low Nov 13
*RES 1: Idr13551 - Bollinger band top
*PRICE: Idr13524 @ 2300GMT
*SUP 1: Idr13494 - 55-DMA
*SUP 2: Idr13490 - Low Nov 7
*SUP 3: Idr13455 - Low Oct 5
*SUP 4: Idr13414 - 100-DMA
*COMMENTARY: Marginal closes above the 21-DMA (Idr13522) following a bounce from
ahead of the 55-DMA provides bulls hope but a close above Idr13558 remains
needed to reconfirm focus on Idr13605-640 where 2017 highs are situated. Daily
studies are well placed for a leg higher. Bears continue to look for a close
below the 55-DMA to hint at a move back to 100 (Idr13414) & 200 (Idr13369) DMAs.
DOLLAR-INR 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: Inr64.4625 @ 2300GMT
*SUP 1: Inr64.2332 - Daily Bear channel base
*SUP 2: Inr64.2064 - 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 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: 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.