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Post-LIBOR Settle Update, 3M Highest Since August 2020

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14 December 2017
By Kyle Shortland
     
Please click on this link to access MNI's daily Dollar-Asia FX Technical
Analysis Pdf http://tinyurl.com/pzkomnu
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
region.
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
located.
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: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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