MNI Dollar-Asia Morning FX Technical Analysis

22 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: Sgd1.3540 - 200-WMA 

*RES 3: Sgd1.3523 - Bollinger band top 

*RES 2: Sgd1.3498 - Alternating daily support/resistance 

*RES 1: Sgd1.3474 - 21-DMA

*PRICE: Sgd1.3432 @ 2300GMT

*SUP 1: Sgd1.3415 - Low Dec 1 

*SUP 2: Sgd1.3399 - Low Sept 20 

*SUP 3: Sgd1.3342 - 2017 Low Sept 8 

*SUP 4: Sgd1.3323 - Daily Bear channel base

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

21-DMA leave the pair looking heavy with immediate bearish focus on

Sgd1.3399-1.3415 and overall focus on Sgd1.3323-42 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

Sgd1.3659-1.3710 where the 200-DMA is noted.

DOLLAR-WON TECHS: Bulls Need Close Above Bear Channel Top

*RES 4: Krw1101.4 - High Nov 20

*RES 3: Krw1096.2 - High Dec 7

*RES 2: Krw1091.6 - Daily Bear channel top

*RES 1: Krw1087.7 - 21-DMA

*PRICE: Krw1082.7 @ 2300GMT

*SUP 1: Krw1078.3 - Low Dec 21

*SUP 2: Krw1075.5 - 2017 Low Nov 29

*SUP 3: Krw1066.6 - 2015 Low Apr 29 2015

*SUP 4: Krw1062.0 - High Oct 24 2014 now support

*COMMENTARY: Lower daily lows and highs ensure bearish focus remains on the

Krw1062.0-1075.5 support region where 2015 & 2017 lows are situated. The 21-DMA

is initial resistance but bulls need a close above the bear channel top to ease

bearish pressure. A close above Krw1101.4 is needed to shift immediate focus to

Krw1107.5-1110.5 where the 55-DMA (Krw1108.4) is located. The Bollinger base

(Krw1079.1) is the key concern forbears and limits follow through.

DOLLAR-MYR TECHS: Myr4.0690 & 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: Myr4.0870 - 21-DMA

*PRICE: Myr4.0780 @ 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. Key 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 Cnh6.5926

*RES 4: Cnh6.6904 - High Oct 3 

*RES 3: Cnh6.6651 - High Oct 27 

*RES 2: Cnh6.6179 - 100-DMA 

*RES 1: Cnh6.5926 - Low Dec 1 now resistance

*PRICE: Cnh6.5647 @ 2300GMT

*SUP 1: Cnh6.5409 - Low Sept 18

*SUP 2: Cnh6.5219 - Low Sept 13

*SUP 3: Cnh6.5053 - Low Sept 11

*SUP 4: Cnh6.4835 - 200-WMA

*COMMENTARY: Follow through was lacking on Thursday's sell-off but bears

currently focus on the Cnh6.5053 support with a close below to confirm focus on

Cnh6.4434-4835 where 2017 lows and the 200-WMA are situated. The Cnh6.5926 level

remains initial resistance with bulls needing a close above to ease bearish

pressure and shift initial focus back to the 100-DMA. Daily studies approaching

O/S is less than ideal for bears.

DOLLAR-PHP TECHS: Bulls Need Close Above 200-DMA

*RES 4: Php51.005 - 55-DMA 

*RES 3: Php50.953 - 100-DMA 

*RES 2: Php50.810 - High Dec 7 

*RES 1: Php50.516 - 200-DMA

*PRICE: Php50.240 @ 2300GMT

*SUP 1: Php50.100 - Low Dec 21 

*SUP 2: Php49.970 - Low June 20 

*SUP 3: Php49.770 - Low June 16 

*SUP 4: Php49.615 - Daily Bear channel base

*COMMENTARY: Bears take comfort from fresh 6mth lows Thursday although the lack

of follow through was less than ideal. Bears now focus on the Php49.970 support

with a close below to add weight to the case for a test of the bear channel

base. Layers of resistance are accumulating with bulls now needing a close above

Php50.340 to ease bearish pressure and above the 200-DMA to shift initial focus

back to Php50.810-51.030 where 100 & 55-DMAs are situated.

DOLLAR-THB TECHS: Thb33.07 Resistance Remains Key

*RES 4: Thb33.35 - High Oct 27 

*RES 3: Thb33.07 - High Nov 15 

*RES 2: Thb33.04 - 100-DMA 

*RES 1: Thb32.92 - High Nov 17

*PRICE: Thb32.69 @ 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 spikes towards 55 & 100-DMAs

with bulls currently needing a close above Thb33.07 to end bearish hopes and

shift focus to Thb33.35-70 where the 200-DMA (Thb33.60) is situated. Daily

studies are well placed for gains. Bears continue to look for 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: Idr13698 - Monthly High June 2 2016 

*RES 3: Idr13640 - 2017 High Oct 27 

*RES 2: Idr13605 - High Oct 30 

*RES 1: Idr13565 - High Dec 21

*PRICE: Idr13555 @ 2300GMT

*SUP 1: Idr13536 - 55-DMA 

*SUP 2: Idr13490 - Low Nov 7 

*SUP 3: Idr13455 - Low Oct 5 

*SUP 4: Idr13448 - 100-DMA

*COMMENTARY: Topside hesitation ahead of Idr13605 has taken its toll with a

sell-off that sees pressure back on the 55-DMA. Bears need a close below the

55-DMA to confirm an easing of bullish pressure and below Idr13490 to shift

initial focus to Idr13448-455 where the 100-DMA is situated. Bulls now need a

close above Idr13565 to gain breathing room and above Idr13605 to reconfirm

initial focus on 2017 highs.

DOLLAR-INR TECHS: Bears Focused On 2017 Low

*RES 4: Inr65.0633 - LT Falling TL off Nov 2016 High 

*RES 3: Inr64.7820 - 55-DMA 

*RES 2: Inr64.6636 - 200-DMA 

*RES 1: Inr64.3881 - 21-DMA

*PRICE: Inr64.0525 @ 2300GMT

*SUP 1: Inr63.9615 - 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 Inr65.0633-2560 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. A close below

Inr63.9350 is now needed to add weight to the bearish case.

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

[TOPICS: MTABLE]