MNI Dollar-Asia Morning FX Technical Analysis

27 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: Sgd1.3544 - 200-WMA 

*RES 3: Sgd1.3526 - Bollinger band top 

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

*RES 1: Sgd1.3471 - 21-DMA

*PRICE: Sgd1.3431 @ 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: Sgd1.3306 - 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 Sgd1.3306-42 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: Immediate Pressure On 2017 Low

*RES 4: Krw1096.2 - High Dec 7

*RES 3: Krw1089.4 - Daily Bear channel top

*RES 2: Krw1087.4 - 21-DMA

*RES 1: Krw1082.8 - High Dec 21

*PRICE: Krw1076.1 @ 2300GMT

*SUP 1: Krw1075.5 - 2017 Low Nov 29

*SUP 2: Krw1066.6 - 2015 Low Apr 29 2015

*SUP 3: Krw1062.0 - High Oct 24 2014 now support

*SUP 4: Krw1055.5 - Daily Bear channel base

*COMMENTARY: Lower daily lows and highs ensure focus remains on Krw1062.0-1075.5

where 2015 & 2017 lows are situated. Layers of resistance are building and

weighing with bulls needing a close above the bear channel top to ease bearish

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

Krw1105.9-1110.5 where the 55-DMA (Krw1105.9) is located. The Bollinger base

(Krw1076.6) is the key concern forbears and limits follow through.

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: Myr4.0840 - 21-DMA

*PRICE: Myr4.0840 @ 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 Myr3.9750-4.0470 where the Aug monthly low is noted. Overall focus

remains on the 200-WMA (Myr3.9310).

DOLLAR-CNH TECHS: Bulls Need Close Above Cnh6.5823

*RES 4: Cnh6.6128 - 100-DMA 

*RES 3: Cnh6.5926 - Low Dec 1 now resistance 

*RES 2: Cnh6.5823 - High Dec 21 

*RES 1: Cnh6.5554 - High Dec 26

*PRICE: Cnh6.5402 @ 2300GMT

*SUP 1: Cnh6.5219 - Low Sept 13

*SUP 2: Cnh6.5053 - Low Sept 11

*SUP 3: Cnh6.4856 - 200-WMA

*SUP 4: Cnh6.4425 - 2017 Low Sept 8

*COMMENTARY: Bears currently focus on the Cnh6.5053 support with a close below

to confirm focus on Cnh6.4434-4856 where 2017 lows and the 200-WMA are situated.

Layers of resistance are following the pair lower and adding weight to the

bearish case. Bulls now need a close above Cnh6.5823 to ease bearish pressure

and above the 100-DMA (Cnh6.6128) to shift focus higher. Daily studies

approaching O/S are the key concern for bears.

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

*RES 4: Php50.965 - 55-DMA 

*RES 3: Php50.939 - 100-DMA 

*RES 2: Php50.810 - High Dec 7 

*RES 1: Php50.516 - 200-DMA

*PRICE: Php50.140 @ 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: Thb33.03 - 100-DMA 

*RES 1: Thb32.92 - High Nov 17

*PRICE: Thb32.76 @ 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 (Thb33.57) is situated. Bears

continue to look for a close below Thb33.60 to confirm a break of the 21-DMA and

ease renewed bullish pressure, returning 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: Idr13560 @ 2300GMT

*SUP 1: Idr13538 - 55-DMA 

*SUP 2: Idr13490 - Low Nov 7 

*SUP 3: Idr13455 - Low Oct 5, 100-DMA 

*SUP 4: Idr13386 - 200-DMA

*COMMENTARY: Topside hesitation ahead of Idr13605 took 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 Idr13455 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: Inr65.0345 - LT Falling TL off Nov 2016 High 

*RES 3: Inr64.7388 - 55-DMA 

*RES 2: Inr64.6372 - 200-DMA 

*RES 1: Inr64.3231 - 21-DMA

*PRICE: Inr64.0800 @ 2300GMT

*SUP 1: Inr63.9401 - 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 last week lacked follow through above

key DMAs. Bulls now look for a close above the 21-DMA to ease bearish pressure

and above the 55-DMA to shift focus to Inr65.0345-2560 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]