MNI Dollar-Asia Morning FX Technical Analysis

29 December 2017

By Kyle Shortland

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

http://tinyurl.com/pzkomnu

DOLLAR-SING TECHS: Immediate Focus On 2017 Low

*RES 4: Sgd1.3528 - 55-DMA 

*RES 3: Sgd1.3498 - Alternating daily support/resistance 

*RES 2: Sgd1.3463 - 21-DMA 

*RES 1: Sgd1.3415 - Low Dec 1 now resistance

*PRICE: Sgd1.3373 @ 2300GMT

*SUP 1: Sgd1.3342 - 2017 Low Sept 8 

*SUP 2: Sgd1.3315 - 2016 Low June 23 

*SUP 3: Sgd1.3295 - Daily Bear channel base 

*SUP 4: Sgd1.3279 - Monthly Low June 18 2015

*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

Sgd1.3295-1.3342 where 2017 lows and bear channel base are situated. O/S daily

studies remain the key concern for bears. Bulls still need a close above

Sgd1.3415 to ease bearish pressure and above the 21-DMA to hint at a correction

back to 55 & 100-DMAs (Sgd1.3528-40).

DOLLAR-WON TECHS: Initial Focus Now On 2015 Low

*RES 4: Krw1088.4 - Daily Bear channel top

*RES 3: Krw1085.6 - 21-DMA

*RES 2: Krw1082.8 - High Dec 21

*RES 1: Krw1076.0 - High Dec 28

*PRICE: Krw1074.1 @ 2300GMT

*SUP 1: Krw1066.6 - 2015 Low Apr 29 2015

*SUP 2: Krw1062.0 - High Oct 24 2014 now support

*SUP 3: Krw1053.8 - Daily Bear channel base

*SUP 4: Krw1045.6 - Monthly Low Oct 29 2014

*COMMENTARY: Lower daily lows and highs ensure focus remains on Krw1062.0-1066.6

where 2015 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 Krw1103.6-1110.5

where the 55-DMA (Krw1103.6) is located. The Bollinger base (Krw1072.1) and O/S

daily studies are concerns for bears.

DOLLAR-MYR TECHS: Myr4.0470 & Myr4.1014 Levels Remain Key

*RES 4: Myr4.1561 - 55-DMA 

*RES 3: Myr4.1423 - High Nov 24 

*RES 2: Myr4.1311 - High Nov 28 

*RES 1: Myr4.1014 - High Dec 12

*PRICE: Myr4.0762 @ 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: Cnh6.6114 - 55-DMA 

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

*RES 2: Cnh6.5823 - High Dec 21 

*RES 1: Cnh6.5695 - High Dec 25

*PRICE: Cnh6.5323 @ 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 need a close above Cnh6.5823 to ease bearish pressure and

above the 55-DMA to shift focus higher. O/S daily studies looking to correct

higher remain the key concern for bears.

DOLLAR-PHP TECHS: Bears Focused On Channel Base

*RES 4: Php50.513 - 200-DMA 

*RES 3: Php50.404 - 21-DMA 

*RES 2: Php50.350 - High Dec 22 

*RES 1: Php50.100 - Low Dec 21 now resistance

*PRICE: Php49.980 @ 2300GMT

*SUP 1: Php49.850 - Low Dec 28 

*SUP 2: Php49.770 - Low June 16 

*SUP 3: Php49.499 - Daily Bear channel base 

*SUP 4: Php49.440 - Low June 15

*COMMENTARY: Fresh 6mth lows continue with bears currently focused on the

Php49.440-499 support region where the bear channel base is situated. Bulls

continue to look for a close above Php50.100 to gain breathing room but a close

above the 200-DMA remains needed to shift focus to Php50.810-51.030 where 55 &

100-DMAs are situated. O/S daily studies are the key concern for bears with

potential to limit follow through.

DOLLAR-THB TECHS: Thb33.07 Resistance Remains Key

*RES 4: Thb33.07 - High Nov 15 

*RES 3: Thb33.02 - 100-DMA 

*RES 2: Thb32.92 - High Nov 17 

*RES 1: Thb32.86 - 55-DMA

*PRICE: Thb32.68 @ 2300GMT

*SUP 1: Thb33.58 - 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: The 55-DMA currently caps with bulls still needing a close above

Thb33.07 to end bearish hopes and shift focus to Thb33.54-70 where the 200-DMA

(Thb33.55) is situated. Bears now look for a close below Thb33.58 to confirm a

break of the 21-DMA (Thb33.64) and ease renewed bullish pressure, returning

initial focus to 2017 lows.

DOLLAR-IDR TECHS: 55-DMA Support Remains Key

*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: Idr13561 @ 2300GMT

*SUP 1: Idr13540 - 55-DMA 

*SUP 2: Idr13490 - Low Nov 7 

*SUP 3: Idr13455 - Low Oct 5 

*SUP 4: Idr13389 - 200-DMA

*COMMENTARY: Bulls take comfort in the 55-DMA supporting with bears needing a

close below the 55-DMA to confirm an easing of bullish pressure and below

Idr13490 to shift initial focus to Idr13455-59 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: Inr65.0056 - LT Falling TL off Nov 2016 High 

*RES 3: Inr64.6971 - 55-DMA 

*RES 2: Inr64.6107 - 200-DMA 

*RES 1: Inr64.2768 - 21-DMA

*PRICE: Inr64.0750 @ 2300GMT

*SUP 1: Inr63.9350 - Low Dec 19 

*SUP 2: Inr63.9263 - 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 last week lacked follow through above

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

above the 55-DMA to shift focus to Inr65.0056-1743 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]