MNI Dollar-Asia Morning FX Technical Analysis

19 December 2017

By Kyle Shortland

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

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DOLLAR-SING TECHS: Above Sgd1.3498 To Ease Bearish Pressure

*RES 4: Sgd1.3555 - 100-DMA 

*RES 3: Sgd1.3547 - Bollinger band top 

*RES 2: Sgd1.3540 - 200-WMA 

*RES 1: Sgd1.3498 - Alternating daily support/resistance

*PRICE: Sgd1.3476 @ 2300GMT

*SUP 1: Sgd1.3438 - Low Dec 14 

*SUP 2: Sgd1.3415 - Low Dec 1 

*SUP 3: Sgd1.3399 - Low Sept 20 

*SUP 4: Sgd1.3339 - Daily Bear channel base

*COMMENTARY: Hesitation around the 200-WMA saw a sell-off and closes below the

21-DMA (Sgd1.3485) leave the pair looking heavy with immediate bearish focus on

Sgd1.3399-1.3415 and overall focus on Sgd1.3339-45 where 2017 lows and bear

channel base are situated. Bulls now need a close above Sgd1.3498 to ease

bearish pressure and above the 100-DMA to end bearish hopes, shifting focus back

to Sgd1.3659-1.3719 where the 200-DMA is noted.

DOLLAR-WON TECHS: Krw1096.2-1101.4 Resistance Region Remains Key

*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: Krw1088.5 @ 2300GMT

*SUP 1: Krw1083.5 - Low Dec 14

*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: Bulls take comfort in the bounce from Thursday's lows but the

Krw1096.2-1101.4 resistance region remains key. Bulls need a close above

Krw1096.2 to hint at a shift higher in focus with above Krw1101.4 to initially

target Krw1107.5-1110.5. While Krw1096.2 caps bears remain focused on

Krw1066.6-1075.5 where 2015 & 2017 lows are situated.

DOLLAR-MYR TECHS: Myr4.0690 & Myr4.1014 Levels Now Key

*RES 4: Myr4.1423 - High Nov 24 

*RES 3: Myr4.1311 - High Nov 28 

*RES 2: Myr4.1014 - High Dec 12 

*RES 1: Myr4.0975 - 21-DMA

*PRICE: Myr4.0860 @ 2300GMT

*SUP 1: Myr4.0690 - Low Dec 14 

*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. 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 (Myr3.9270).

DOLLAR-CNH TECHS: Bulls Need Close Above 100-DMA

*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: Cnh6.6225 - 100-DMA

*PRICE: Cnh6.6099 @ 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 (Cnh6.6109) & 55 (Cnh6.6201) 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 (Cnh6.7302) 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: Bulls Need Close Above 21-DMA

*RES 4: Php51.016 - 55-DMA 

*RES 3: Php50.958 - 100-DMA 

*RES 2: Php50.810 - High Dec 7 

*RES 1: Php50.567 - 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 (Php50.515)

remains a concern for bulls who continue to look for a close above the 21-DMA to

ease bearish pressure and confirm focus on Php50.810-51.016 where 100 & 55-DMAs

and the Bollinger band top (50.897) 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: Closing Above 21-DMA

*RES 4: Thb33.07 - High Nov 15 

*RES 3: Thb32.92 - High Nov 17 

*RES 2: Thb32.85 - Daily Bear channel top 

*RES 1: Thb32.77 - High Nov 22

*PRICE: Thb32.64 @ 2300GMT

*SUP 1: Thb33.43 - 2017 Low Dec 14 

*SUP 2: Thb32.26 - 2015 Lows Feb 26 & Apr 17 & 20 2015 

*SUP 3: Thb32.19 - Monthly Low Oct 21 2014 

*SUP 4: Thb31.88 - Daily Bear channel base

*COMMENTARY: Bulls take comfort in the bounce to start the new week that sees

the pair closing above the 21-DMA (Thb32.61). Layers of resistance remain

thb32.77-33.07 where the bear channel top, 55 & 100-DMAs are situated. Bulls

need a close above Thb33.07 to end bearish hopes and shift focus to Trhb33.35-70

where the 200-DMA (Thb33.64) is noted. While Thb32.77 caps bears remain focused

on the bear channel base.

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: Idr13537 - 21-DMA 

*SUP 3: Idr13531 - 55-DMA 

*SUP 4: Idr13490 - Low Nov 7

*COMMENTARY: The bullish close above the 21-DMA in recent weeks increased

bullish confidence with the close above Idr13558 reconfirming focus on

Idr13605-640 where 2017 highs are situated. Layers of support are noted

Idr13531-557. The 55-DMA remains key support with bears still needing a close

below to ease bullish pressure and below Idr13490 to then shift focus back to

Idr13455.

DOLLAR-INR TECHS: Topside Follow Through Lacking

*RES 4: Inr65.1067 - LT Falling TL off Nov 2016 High 

*RES 3: Inr64.8603 - 55-DMA 

*RES 2: Inr64.7062 - 200-DMA 

*RES 1: Inr64.5220 - 21-DMA

*PRICE: Inr64.2350 @ 2300GMT

*SUP 1: Inr64.0050 - Low Dec 15 

*SUP 2: Inr64.0048 - Bollinger band base 

*SUP 3: Inr63.7750 - Monthly Low Sept 8 

*SUP 4: Inr63.5600 - 2017 Low Aug 3

*COMMENTARY: An aggressive spike to start the new week lacked follow through

above key DMAs. Bulls now look for a close above the 200-DMA to ease bearish

pressure and above the 55-DMA to shift focus to Inr65.1067-2560 where the LT

falling TL and bear channel top are situated. bears now look for a close below

Inr64.0050 to reconfirm focus on tests of 2017 lows. The Bollinger base is the

key concern for bears and currently limits follow through.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]