MNI Dollar-Asia Morning FX Technical Analysis

12 December 2017

By Kyle Shortland

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

http://tinyurl.com/pzkomnu

DOLLAR-SING TECHS: Sgd1.3536-61 Resistance Region Key

*RES 4: Sgd1.3659 - Monthly High Nov 6 

*RES 3: Sgd1.3606 - Bollinger band top 

*RES 2: Sgd1.3562 - 55-DMA 

*RES 1: Sgd1.3536 - 200-WMA

*PRICE: Sgd1.3509 @ 2300GMT

*SUP 1: Sgd1.3498 - Low Dec 11 

*SUP 2: Sgd1.3486 - Hourly support Dec 7 

*SUP 3: Sgd1.3459 - Low Dec 6 

*SUP 4: Sgd1.3448 - Low Dec 5

*COMMENTARY: Correcting O/S daily studies impacted in past weeks with support

emerging on dips a concern for bears. Bulls still need a close above the 200-WMA

to ease bearish pressure and above the 55-DMA now to shift initial focus to

Sgd1.3659. Key support remains at Sgd1.3486 with bears needing a close below to

ease pressure on resistance layers and below Sgd1.3399 to reconfirm focus on

2017 lows.

DOLLAR-WON TECHS: Above Krw1101.4 Initially Pressures Krw1107.5-1110.5

*RES 4: Krw1110.5 - Low Mar 28 now resistance

*RES 3: Krw1107.5 - High Nov 16

*RES 2: Krw1101.4 - High Nov 20

*RES 1: Krw1096.2 - High Dec 7

*PRICE: Krw1092.3 @ 2300GMT

*SUP 1: Krw1090.4 - Low Dec 8

*SUP 2: Krw1080.3 - Low Nov 30

*SUP 3: Krw1075.5 - 2017 Low Nov 29

*SUP 4: Krw1066.6 - 2015 Low Apr 29 2015

*COMMENTARY: The lack of follow through after recent 2017/2+ year lows now sees

the pair flirting with the 21-DMA (Krw1094.2). Bulls still need a close above

Krw1101.4 to confirm a break of the 21-DMA and shift focus to Krw1107.5-1110.5.

Bears continue to look for a close below Krw1090.4 to gain breathing room and

below Krw1080.3 to retain focus on 2015 lows and then the Krw1045.6 Oct monthly

low from 2014.

DOLLAR-MYR TECHS: Myr4.0930 Resistance Remains Key

*RES 4: Myr4.1725 - Lows Nov 10 & 15 now resistance 

*RES 3: Myr4.1423 - High Nov 24 

*RES 2: Myr4.1311 - High Nov 28 

*RES 1: Myr4.0930 - High Nov 30

*PRICE: Myr4.0750 @ 2300GMT

*SUP 1: Myr4.0700 - Low Dec 8 

*SUP 2: Myr4.0470 - 2017 Low Dec 5 

*SUP 3: Myr4.0370 - Monthly Low Sept 8 2016 

*SUP 4: Myr4.0135 - Low Aug 26 2016

*COMMENTARY: Follow through was lacking on the recent 2017 lows with correcting

O/S daily studies providing the impetus for a correction. Initial resistance is

noted at Myr4.0930 with bulls needing a close above to ease bearish pressure and

hint at a correction back to Myr4.1311-1423 with the 21-DMA at Myr4.1220. While

Myr4.0930 caps bears remain focused on Myr3.9750-4.0315 where the Aug monthly

low is noted. Overall focus remains on the 200-WMA (Myr3.9229).

DOLLAR-CNH TECHS: 100-DMA Continues To Cap

*RES 4: Cnh6.7154 - Low Aug 1 now resistance 

*RES 3: Cnh6.6904 - High Oct 3 

*RES 2: Cnh6.6651 - High Oct 27 

*RES 1: Cnh6.6289 - 100-DMA

*PRICE: Cnh6.6201 @ 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 around 21 (Cnh6.6171) & 55 (Cnh6.6233) DMAs continues

and is a concern for bulls with the pair remaining capped ahead of the 100-DMA.

Bulls still need a close above the 100-DMA to add support to the case for a move

back to the 200-DMA (Cnh6.7373) with above Cnh6.6904 needed to confirm. Bears

need a close below Cnh6.5926 to ease pressure on the 100-DMA and reconfirm focus

on Cnh6.5568-5674 with a close below to target Cnh6.5033.

DOLLAR-PHP TECHS: Focus Back On Php49.970-140

*RES 4: Php50.810 - High Dec 7 

*RES 3: Php50.762 - 21-DMA 

*RES 2: Php50.505 - 200-DMA 

*RES 1: Php50.450 - High Dec 11

*PRICE: Php50.360 @ 2300GMT

*SUP 1: Php50.240 - Monthly Low Nov 29 

*SUP 2: Php50.140 - Monthly Low Aug 4 

*SUP 3: Php49.970 - Low June 20 

*SUP 4: Php49.770 - Low June 16

*COMMENTARY: The 21-DMA capped the recovery from Nov lows with Friday's close

below the 200-DMA (Php50.505) seeing bearish pressure back on the

Php49.970-50.140 support region. Below Php49.970 is needed to shift focus back

to Php49.360-440. Initial resistance is noted at Php50.450 but bulls need a

close above the 200-DMA to ease bearish pressure and shift focus back to

Php50.718-51.054 where key DMAs are situated.

DOLLAR-THB TECHS: Bounces Capped Ahead Of 21-DMA

*RES 4: Thb33.07 - High Nov 15 

*RES 3: Thb32.92 - High Nov 17 

*RES 2: Thb32.77 - High Nov 22 

*RES 1: Thb32.71 - 21-DMA

*PRICE: Thb32.61 @ 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: Thb31.95 - Daily Bear channel base

*COMMENTARY: Repeated fresh 2017 lows in past weeks added weight to the bearish

case with overall focus on tests of the bear channel base. O/S daily studies

correcting higher remain key concern for bears. In saying that, bulls need a

close above Thb32.77 to ease immediate bearish pressure and hint at a correction

back to Thb32.92-33.10 where 55 & 100-DMAs and LT bear channel top (Thb32.92)

are located.

DOLLAR-IDR TECHS: Idr13490 & Idr13558 Levels Remain Key

*RES 4: Idr13640 - 2017 High Oct 27 

*RES 3: Idr13605 - High Oct 30 

*RES 2: Idr13560 - Bollinger band top 

*RES 1: Idr13558 - Low Nov 13

*PRICE: Idr13550 @ 2300GMT

*SUP 1: Idr13521 - 55-DMA 

*SUP 2: Idr13490 - Low Nov 7 

*SUP 3: Idr13455 - Low Oct 5 

*SUP 4: Idr13428 - 100-DMA

*COMMENTARY: The bullish close above the 21-DMA (Idr13528) Wednesday increased

bullish confidence but a close above Idr13558 remains needed to reconfirm focus

on Idr13605-640 where 2017 highs are situated. The 55-DMA remains initial

support but bears need a close below Idr13490 to confirm a break and below

Idr13455 to confirm focus on Idr13373-425 where 100 & 200-DMAs are situated.

DOLLAR-INR TECHS: Bulls Need Close Above Inr64.6300

*RES 4: Inr65.1375 - Low Nov 16 now resistance 

*RES 3: Inr64.9140 - 55-DMA 

*RES 2: Inr64.7735 - 200-DMA 

*RES 1: Inr64.6300 - High Nov 30

*PRICE: Inr64.3600 @ 2300GMT

*SUP 1: Inr64.1733 - Daily Bear channel base 

*SUP 2: Inr64.0171 - 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

(Inr65.1789) off Nov 2016 highs in recent weeks saw a sell off that resulted in

tests of the daily bear channel base. A close below is needed to confirm focus

on 2017 lows. Bulls still 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.

Correcting 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]