MNI Dollar-Asia Morning FX Technical Analysis

4 January 2018

By Kyle Shortland

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

http://tinyurl.com/pzkomnu

DOLLAR-SING TECHS: Bears Now Targeting 2015 Low

*RES 4: Sgd1.3436 - 21-DMA 

*RES 3: Sgd1.3415 - Low Dec 1 now resistance 

*RES 2: Sgd1.3342 - 2017 Low Sept 8 now resistance 

*RES 1: Sgd1.3300 - Hourly resistance Jan 2

*PRICE: Sgd1.3289 @ 2300GMT

*SUP 1: Sgd1.3271 - 2018 Low Jan 2 

*SUP 2: Sgd1.3145 - 2015 Low Apr 29 

*SUP 3: Sgd1.3000 - Monthly Low Dec 16 2014 

*SUP 4: Sgd1.2955 - Low Nov 27 2014

*COMMENTARY: Losses to start the new year see the pair looking heavy with the

bearish closes seeing focus on the Sgd1.3000-1.3145 region where 2015 lows are

situated. O/S daily studies and the Bollinger band base (Sgd1.3304) remain key

concerns for bears with potential to limit follow through. Bulls need a close

above Sgd1.3342 to gain breathing room and above the 21-DMA to hint at a bigger

correction.

DOLLAR-WON TECHS: Bears Focused On Krw1045.6-1050.6

*RES 4: Krw1083.0 - 21-DMA

*RES 3: Krw1082.8 - High Dec 21

*RES 2: Krw1076.0 - High Dec 28

*RES 1: Krw1070.0 - Low Dec 28 now resistance

*PRICE: Krw1064.5 @ 2300GMT

*SUP 1: Krw1061.2 - 2018 Low Jan 2

*SUP 2: Krw1050.6 - Daily Bear channel base

*SUP 3: Krw1045.6 - Monthly Low Oct 29 2014

*SUP 4: Krw1031.0 - Low Sept 17 2014

*COMMENTARY: The pair remains heavy with the bearish closes seeing focus on

layers of support Krw1045.6-1050.6 where the bear channel base is situated. O/S

daily studies and the Bollinger band base remain key concerns for bears. In

saying that, layers of resistance are weighing with bulls needing a close above

Krw1076.1 to ease bearish pressure and above the bear channel top (Krw1084.1) to

shift focus to Krw1096.2-1101.4 where the 55-DMA is noted.

DOLLAR-MYR TECHS: Bears Focused On 200-WMA

*RES 4: Myr4.1311 - High Nov 28 

*RES 3: Myr4.1014 - High Dec 12 

*RES 2: Myr4.0724 - 21-DMA 

*RES 1: Myr4.0450 - High Jan 2

*PRICE: Myr4.0180 @ 2300GMT

*SUP 1: Myr4.0135 - Low Aug 26 2016 

*SUP 2: Myr3.9750 - Monthly Low Aug 8 2016 

*SUP 3: Myr3.9346 - 200-WMA 

*SUP 4: Myr3.9314 - Monthly Low July 14 2016

*COMMENTARY: Bears have reasserted dominance to start the new year with fresh

16mth lows adding weight to the case for a test of the 200-WMA. Daily studies

are approaching O/S but still have room to move. Bulls now need a close above

Myr4.0450 to gain breathing room and above Myr4.1014 to shift focus to

Myr4.1311-1494 where the 55-DMA is situated. The Bollinger base (Myr4.0355) is

the key concern for bears.

DOLLAR-CNH TECHS: Immediate Focus On 2017 Low

*RES 4: Cnh6.5926 - Low Dec 1 now resistance 

*RES 3: Cnh6.5823 - High Dec 21 

*RES 2: Cnh6.5695 - High Dec 25 

*RES 1: Cnh6.5340 - High Dec 29

*PRICE: Cnh6.4969 @ 2300GMT

*SUP 1: Cnh6.4874 - 200-WMA

*SUP 2: Cnh6.4863 - Low Jan 2

*SUP 3: Cnh6.4425 - 2017 Low Sept 8

*SUP 4: Cnh6.4140 - Low Nov 25 2015

*COMMENTARY: Topside failures around the 100-DMA (Cnh6.6028) in early Dec

resulted in a sell-off that sees focus on tests of 2017 lows. Bears look for a

close below the 200-WMA to add weight to their case. O/S daily studies looking

to correct are the key concern for bears. Bulls now look for a close above

Cnh6.5340 to ease immediate bearish pressure and hint at a correction back to

Cnh6.5695-6072 where key DMAs are noted.

DOLLAR-PHP TECHS: Bears Focused On Channel Base

*RES 4: Php50.810 - High Dec 7 

*RES 3: Php50.506 - 200-DMA 

*RES 2: Php50.350 - High Dec 22 

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

*PRICE: Php49.810 @ 2300GMT

*SUP 1: Php49.770 - Low June 16 

*SUP 2: Php49.440 - Low June 15 

*SUP 3: Php49.383 - Daily Bear channel base 

*SUP 4: Php49.030 - 100-WMA

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

Php49.383-440 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: Bear Channel Base The Focus Once More

*RES 4: Thb32.92 - High Nov 17 

*RES 3: Thb32.82 - 55-DMA 

*RES 2: Thb32.61 - 21-DMA 

*RES 1: Thb33.39 - Low Jan 2 now resistance

*PRICE: Thb32.30 @ 2300GMT

*SUP 1: Thb32.23 - 2018 Low Jan 3 

*SUP 2: Thb32.19 - Monthly Low Oct 21 2014 

*SUP 3: Thb31.88 - Monthly Low Sept 8 2014 

*SUP 4: Thb31.83 - Daily Bear channel base

*COMMENTARY: Fresh 3+ year lows and bearish closes add weight to the bearish

case targeting a test of the bear channel base around Thb31.83. The Bollinger

base (Thb32.37) is the key concern for bears with potential to limit follow

through. Layers of resistance continue to accumulate and add weight to the

bearish case. Bulls need a close above the 21-DMA to confirm an easing of

bearish pressure.

DOLLAR-IDR TECHS: Focus Shifts To Idr13455-466

*RES 4: Idr13640 - 2017 High Oct 27 

*RES 3: Idr13605 - High Oct 30 

*RES 2: Idr13565 - High Dec 21 

*RES 1: Idr13543 - 55-DMA

*PRICE: Idr13473 @ 2300GMT

*SUP 1: Idr13466 - 100-DMA 

*SUP 2: Idr13455 - Low Oct 5 

*SUP 3: Idr13392 - 200-DMA 

*SUP 4: Idr13380 - High Sept 26 now support

*COMMENTARY: Pressure on the 55-DMA has taken its toll with a relatively bearish

close to start the new year seeing focus return to Idr13455-466 where the

100-DMA is noted. Bears now look for a close below Idr13455 to initially target

tests of the 200-DMA. Bulls now need a close above Idr13565 to gain breathing

room and above Idr13605 to reconfirm initial focus on 2017 highs.

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

[TOPICS: MTABLE]