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Stronger In a Range


Weaker In A Range


Ending The Week On A Soft Note


Bearish Risk Growing


Stronger, But Still Vulnerable


SP500 PE Ratio vs. CPI Inflation

14 December 2017
By Kyle Shortland
Please click on this link to access MNI's daily Dollar-Asia FX Technical
Analysis Pdf
DOLLAR-SING TECHS: Below Sgd1.3448 Hints At Test of 2017 Low
*RES 4: Sgd1.3576 - Bollinger band top 
*RES 3: Sgd1.3560 - 55-DMA 
*RES 2: Sgd1.3536 - 200-WMA 
*RES 1: Sgd1.3498 - 21-DMA
*PRICE: Sgd1.3470 @ 2300GMT
*SUP 1: Sgd1.3448 - Low Dec 5 
*SUP 2: Sgd1.3415 - Low Dec 1 
*SUP 3: Sgd1.3399 - Low Sept 20 
*SUP 4: Sgd1.3356 - Daily Bear channel top
*COMMENTARY: Hesitation around the 200-WMA has seen a sell-off and close below
the 21-DMA that sees immediate pressure back on Sgd1.3448. Bears look for a
close below to reconfirm overall focus on tests of 2017 lows and below Sgd1.3399
needed to add weight to their case. Bulls now need a close above the 21-DMA to
ease bearish pressure and above the 55-DMA to end bearish hopes and shift focus
back to Sgd1.3659-1.3729 where the 200-DMA is noted.
DOLLAR-WON TECHS: Krw1088.0 Support Key Today
*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: Krw1090.7 @ 2300GMT
*SUP 1: Krw1088.0 - Low Dec 12
*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 (Krw1091.5). 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 now look for a close below Krw1088.0 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: Bears Need Close Below Myr4.0700
*RES 4: Myr4.1423 - High Nov 24 
*RES 3: Myr4.1311 - High Nov 28 
*RES 2: Myr4.1116 - 21-DMA 
*RES 1: Myr4.1014 - High Dec 12
*PRICE: Myr4.0865 @ 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 Myr4.1014 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 Myr4.1116. While
Myr4.1014 caps bears remain focused on Myr3.9750-4.0315 where the Aug monthly
low is noted. Overall focus remains on the 200-WMA (Myr3.9230).
DOLLAR-CNH TECHS: Looking A Little Heavy
*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: Cnh6.6263 - 100-DMA
*PRICE: Cnh6.6127 @ 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 (Cnh6.6146) & 55 (Cnh6.6228) DMAs continues
and is a concern for bulls with the pair remaining capped around 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 (Cnh6.7345) 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: Topside Hesitation A Concern
*RES 4: Php51.034 - 55-DMA 
*RES 3: Php50.968 - 100-DMA 
*RES 2: Php50.810 - High Dec 7 
*RES 1: Php50.649 - 21-DMA
*PRICE: Php50.480 @ 2300GMT
*SUP 1: Php50.300 - Low Dec 11 
*SUP 2: Php50.240 - Monthly Low Nov 29 
*SUP 3: Php50.140 - Monthly Low Aug 4 
*SUP 4: Php49.970 - Low June 20
*COMMENTARY: The lack of follow through on pops above the 200-DMA (Php50.510) is
a concern for bulls who look for a close above the 21-DMA to confirm focus on
Php50.810-51.034 where 100 & 55-DMAs are situated. Bears continue to look for a
close below Php50.240 to return pressure to the key Php49.970-50.140 support
DOLLAR-THB TECHS: Bears Remain Focused On Channel Base
*RES 4: Thb33.07 - High Nov 15 
*RES 3: Thb32.92 - High Nov 17 
*RES 2: Thb32.77 - High Nov 22 
*RES 1: Thb32.66 - 21-DMA
*PRICE: Thb32.51 @ 2300GMT
*SUP 1: Thb33.47 - 2017 Low Dec 13 
*SUP 2: Thb32.26 - 2015 Lows Feb 26 & Apr 17 & 20 2015 
*SUP 3: Thb32.19 - Monthly Low Oct 21 2014 
*SUP 4: Thb31.92 - Daily Bear channel base
*COMMENTARY: Fresh 2017 & 2+ year lows continue and add weight to the bearish
case with overall focus on tests of the bear channel base. O/S daily studies
have now corrected back to more bear friendly levels. Bulls still need a close
above Thb32.77 to ease immediate bearish pressure and hint at a correction back
to Thb32.89-33.08 where 55 & 100-DMAs and LT bear channel top (Thb32.89) are
DOLLAR-IDR TECHS: Bears Need Close Below 55-DMA
*RES 4: Idr13825 - High Feb 3 2016 
*RES 3: Idr13698 - Monthly High June 2 2016 
*RES 2: Idr13640 - 2017 High Oct 27 
*RES 1: Idr13605 - High Oct 30
*PRICE: Idr13580 @ 2300GMT
*SUP 1: Idr13557 - High Nov 13 now support 
*SUP 2: Idr13531 - 21-DMA 
*SUP 3: Idr13527 - 55-DMA 
*SUP 4: Idr13490 - Low Nov 7
*COMMENTARY: The bullish close above the 21-DMA (Idr13529) increased bullish
confidence with the close above Idr13558 reconfirming focus on Idr13605-640
where 2017 highs are situated. Layers of support are noted Idr13527-557. The
55-DMA remains key support with bears now needing a close below to ease bullish
pressure and below Idr13490 to shift focus back to Idr13455.
DOLLAR-INR TECHS: Bulls Need Close Above Inr64.6300
*RES 4: Inr65.1375 - Low Nov 16 now resistance 
*RES 3: Inr64.9097 - 55-DMA 
*RES 2: Inr64.7480 - 200-DMA 
*RES 1: Inr64.6300 - High Nov 30
*PRICE: Inr64.4325 @ 2300GMT
*SUP 1: Inr64.1399 - Daily Bear channel base 
*SUP 2: Inr63.9994 - 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
(Inr65.1500) 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: