Free Trial

MNI Dollar-Asia Morning FX Technical Analysis

20 December 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/pzkomnu
DOLLAR-SING TECHS: Above Sgd1.3498 To Ease Bearish Pressure
*RES 4: Sgd1.3553 - 100-DMA 
*RES 3: Sgd1.3540 - 200-WMA 
*RES 2: Sgd1.3531 - Bollinger band top 
*RES 1: Sgd1.3498 - Alternating daily support/resistance
*PRICE: Sgd1.3468 @ 2300GMT
*SUP 1: Sgd1.3438 - Low Dec 14 
*SUP 2: Sgd1.3415 - Low Dec 1 
*SUP 3: Sgd1.3399 - Low Sept 20 
*SUP 4: Sgd1.3334 - Daily Bear channel base
*COMMENTARY: Hesitation around the 200-WMA saw a sell-off and closes below the
21-DMA (Sgd1.3481) 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 need a close above Sgd1.3498 to ease bearish
pressure and above the 100-DMA to end bearish hopes, shifting focus back to
Sgd1.3659-1.3715 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: Krw1084.9 @ 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 took 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: Myr4.0470 & Myr4.1014 Levels Remain Key
*RES 4: Myr4.1423 - High Nov 24 
*RES 3: Myr4.1311 - High Nov 28 
*RES 2: Myr4.1014 - High Dec 12 
*RES 1: Myr4.0935 - 21-DMA
*PRICE: Myr4.0795 @ 2300GMT
*SUP 1: Myr4.0620 - Low Dec 19 
*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 (Myr3.9269).
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: Cnh6.6212 - 100-DMA
*PRICE: Cnh6.6032 @ 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 (Cnh6.6087) & 55 (Cnh6.6189) 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 (Cnh6.7287) 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: Php51.005 - 55-DMA 
*RES 3: Php50.953 - 100-DMA 
*RES 2: Php50.810 - High Dec 7 
*RES 1: Php50.540 - 21-DMA
*PRICE: Php50.390 @ 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 (Php50.516)
remains a concern for bulls who continue to look for a close above the 21-DMA to
ease bearish pressure and confirm focus on Php50.810-51.030 where 100 & 55-DMAs
and the Bollinger band top (50.830) 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: Thb33.07 Resistance Now Key
*RES 4: Thb33.35 - High Oct 27 
*RES 3: Thb33.07 - High Nov 15 
*RES 2: Thb33.05 - 100-DMA 
*RES 1: Thb32.92 - High Nov 17
*PRICE: Thb32.70 @ 2300GMT
*SUP 1: Thb33.60 - Low Dec 19 
*SUP 2: Thb33.43 - 2017 Low Dec 14 
*SUP 3: Thb32.26 - 2015 Lows Feb 26 & Apr 17 & 20 2015 
*SUP 4: Thb32.19 - Monthly Low Oct 21 2014
*COMMENTARY: Bullish confidence grows following Tuesday's spike towards 55 &
100-DMAs with bulls now needing a close above Thb33.07 to end bearish hopes and
shift focus to Thb33.35-70 where the 200-DMA (Thb33.63) is situated. Daily
studies are well placed for gains. Bears now need a close below Thb33.60 to ease
renewed bullish pressure and return initial focus to 2017 lows.
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: Idr13575 @ 2300GMT
*SUP 1: Idr13557 - High Nov 13 now support 
*SUP 2: Idr13539 - 21-DMA 
*SUP 3: Idr13532 - 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
Idr13532-557. 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: Bears Focused On 2017 Low
*RES 4: Inr65.0922 - LT Falling TL off Nov 2016 High 
*RES 3: Inr64.8296 - 55-DMA 
*RES 2: Inr64.6917 - 200-DMA 
*RES 1: Inr64.4751 - 21-DMA
*PRICE: Inr64.0250 @ 2300GMT
*SUP 1: Inr63.9648 - Bollinger band base 
*SUP 2: Inr63.9350 - Low Dec 19 
*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 Inr65.0922-2560 where the LT
falling TL and bear channel top are situated. Bears currently focus on 2017 lows
although the Bollinger base currently limits follow through.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

To read the full story

Close

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.
}); window.REBELMOUSE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ (function appendPosts () { var policyPosts = document.getElementsByClassName('policy-posts-wrapper')[0]; var policyPostsMenu = document.querySelector('.policy-posts-span'); policyPostsMenu.append(policyPosts); policyPosts.style.display = "block"; var dataPosts = document.getElementsByClassName('data-posts-wrapper')[0]; var dataPostsMenu = document.querySelector('.data-posts-span'); dataPostsMenu.append(dataPosts); dataPosts.style.display = "block"; })(); }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ document.querySelectorAll(".my-mni").forEach(function(item){ item.href="/core/users/email_login/"; item.innerHTML="Log In"; }) }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ document.querySelector('.signup-form').addEventListener('submit', () => { window.dataLayer = window.dataLayer || []; dataLayer.push({ 'event' : 'submission_click', 'event_category': "Sign Up Button Clicks", 'event_label': "Posts" }); }) }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){ item.onsubmit=function(e){ ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15}); window.dataLayer = window.dataLayer || []; dataLayer.push({ 'event' : 'signup_click', 'event_category': "Signup", 'event_action': 'CompletedForm', 'event_label': 'pageTitle', 'event_value': 15 }); } }) }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ (function appendPosts () { var policyPosts = document.getElementsByClassName('policy-posts-wrapper')[0]; var policyPostsMenu = document.querySelector('.policy-posts-span'); policyPostsMenu.append(policyPosts); policyPosts.style.display = "block"; var dataPosts = document.getElementsByClassName('data-posts-wrapper')[0]; var dataPostsMenu = document.querySelector('.data-posts-span'); dataPostsMenu.append(dataPosts); dataPosts.style.display = "block"; })(); }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ document.querySelectorAll(".my-mni").forEach(function(item){ item.href="/core/users/email_login/"; item.innerHTML="Log In"; }) }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ document.querySelectorAll("img").forEach(function (img) { img.addEventListener("contextmenu", function (e) { return false; }); }); document .querySelector(".site-logo img") .addEventListener("contextmenu", function (e) { return true; }); }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ document.querySelector('.signup-form').addEventListener('submit', () => { window.dataLayer = window.dataLayer || []; dataLayer.push({ 'event' : 'submission_click', 'event_category': "Sign Up Button Clicks", 'event_label': "Posts" }); }) }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){ item.onsubmit=function(e){ ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15}); window.dataLayer = window.dataLayer || []; dataLayer.push({ 'event' : 'signup_click', 'event_category': "Signup", 'event_action': 'CompletedForm', 'event_label': 'pageTitle', 'event_value': 15 }); } }) }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ let posts = document.querySelectorAll(".all-content-wrapper .widget:not(.stream-story-processed)"); window.check_story_posts(posts, "streamOfPosts"); }); window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){ function populateInputsWithAPAPI(c) { document.querySelectorAll('.signup-form input[name="country"]').forEach(el => { el.setAttribute("value", c.country_name); }); document.querySelectorAll('.signup-form .country_name').forEach(el => { el.setAttribute("value", c.country_name); }); let country_code = c && c.country_code ? c.country_code.toLowerCase() : "auto"; document.querySelectorAll('.signup-form .country_code').forEach(el => { el.setAttribute("value", country_code); }); document.querySelectorAll('.signup-form .selected_country').forEach(el => { el.setAttribute("value", country_code); }); } const fetch = function (err, res) { var r = new XMLHttpRequest(); r.open("GET", err, !0), (r.responseType = "json"), (r.onload = function () { var err = r.status; res(200 === err ? null : err, r.response); }), r.send(); }; function setupCountry() { if (window.preventDuplicateExec) { return; } window.preventDuplicateExec = true; window.REBELMOUSE_STDLIB.onElementInViewport({ threshold: 0, firstOnly: true, oneTime: true, selector: ".signup-form", onIntersect: (entry) => { // when you need to get access to that data you call it in that way: let ipapiData = localStorage.getItem("ipapiData"); if (!ipapiData) { fetch("https://ipapi.co/json/", function (err, ipData) { console.log("populating inputs with data from IP API "); localStorage.setItem("ipapiData", JSON.stringify(ipData)); populateInputsWithAPAPI(ipData); }); } else { console.log( "populating inputs with data from IP API data stored in local storage" ); populateInputsWithAPAPI(JSON.parse(ipapiData)); } }, }); } setupCountry(); }); window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){ /* const sidebar = document.querySelector('.left-sidebar-container'); const stickyContent = document.querySelector('.sticky-content'); const siteContent = document.querySelector('.all-posts-stream'); if (sidebar && stickyContent && siteContent) { if (siteContent.clientHeight > sidebar.clientHeight) { console.log('grater -> ', siteContent.clientHeight + ' > ' + sidebar.clientHeight); stickyContent.style.height = (siteContent.clientHeight - sidebar.clientHeight) + 'px'; } } */ }); window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){ function populateInputsWithAPAPI(c) { document.querySelectorAll('.signup-form input[name="country"]').forEach(el => { el.setAttribute("value", c.country_name); }); document.querySelectorAll('.signup-form .country_name').forEach(el => { el.setAttribute("value", c.country_name); }); let country_code = c && c.country_code ? c.country_code.toLowerCase() : "auto"; document.querySelectorAll('.signup-form .country_code').forEach(el => { el.setAttribute("value", country_code); }); document.querySelectorAll('.signup-form .selected_country').forEach(el => { el.setAttribute("value", country_code); }); } const fetch = function (err, res) { var r = new XMLHttpRequest(); r.open("GET", err, !0), (r.responseType = "json"), (r.onload = function () { var err = r.status; res(200 === err ? null : err, r.response); }), r.send(); }; function setupCountry() { if (window.preventDuplicateExec) { return; } window.preventDuplicateExec = true; window.REBELMOUSE_STDLIB.onElementInViewport({ threshold: 0, firstOnly: true, oneTime: true, selector: ".signup-form", onIntersect: (entry) => { // when you need to get access to that data you call it in that way: let ipapiData = localStorage.getItem("ipapiData"); if (!ipapiData) { fetch("https://ipapi.co/json/", function (err, ipData) { console.log("populating inputs with data from IP API "); localStorage.setItem("ipapiData", JSON.stringify(ipData)); populateInputsWithAPAPI(ipData); }); } else { console.log( "populating inputs with data from IP API data stored in local storage" ); populateInputsWithAPAPI(JSON.parse(ipapiData)); } }, }); } setupCountry(); });