MNI Dollar-Asia Morning FX Technical Analysis

8 January 2017

By Kyle Shortland

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

http://tinyurl.com/pzkomnu

DOLLAR-SING TECHS: Bears Targeting 2015 Low

*RES 4: Sgd1.3415 - Low Dec 1 now resistance 

*RES 3: Sgd1.3402 - 21-DMA 

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

*RES 1: Sgd1.3314 - High Jan 4

*PRICE: Sgd1.3261 @ 2300GMT

*SUP 1: Sgd1.3250 - 2018 Low Jan 5 

*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 (Sgd1.3240) remain key

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

above Sgd1.3342 to gain breathing room and above Sgd1.3415 to hint at a bigger

correction.

DOLLAR-WON TECHS: Bears Focused On Krw1045.6-1048.5

*RES 4: Krw1082.8 - High Dec 21

*RES 3: Krw1080.6 - 21-DMA

*RES 2: Krw1076.0 - High Dec 28

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

*PRICE: Krw1062.2 @ 2300GMT

*SUP 1: Krw1060.2 - 2018 Low Jan 5

*SUP 2: Krw1048.5 - 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 bearish closes to start the new year

seeing focus on layers of support Krw1045.6-1048.5 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 Krw1070.1 to ease bearish pressure and above Krw1082.8 to shift

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

DOLLAR-MYR TECHS: Bears Focused On 200-WMA

*RES 4: Myr4.0668 - 21-DMA 

*RES 3: Myr4.0450 - High Jan 2 

*RES 2: Myr4.0260 - High Jan 3 

*RES 1: Myr4.0055 - Low Jan 4 now resistance

*PRICE: Myr4.0080 @ 2300GMT

*SUP 1: Myr3.9900 - 2018 Low Jan 5 

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

*SUP 3: Myr3.9345 - 200-WMA 

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

*COMMENTARY: Bears 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 at O/S

levels and the Bollinger band base (Myr4.0116) are a concern for bears. Bulls

now need a close above Myr4.0260 to gain breathing room and above Myr4.1014 to

shift focus to Myr4.1311-1423 where the 55-DMA is situated.

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: Cnh6.4882 @ 2300GMT

*SUP 1: Cnh6.4723 - 2018 Low Jan 5

*SUP 2: Cnh6.4561 - Bollinger band base

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

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

*COMMENTARY: Topside failures around the 100-DMA (Cnh6.5970) 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 (Cnh6.4890) to add weight to their case. O/S daily

studies looking to correct are the key concern. Bulls look for a close above

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

Cnh6.5695-5974 where key DMAs are noted.

DOLLAR-THB TECHS: Bear Channel Base The Focus Once More

*RES 4: Thb32.92 - High Nov 17 

*RES 3: Thb32.76 - 55-DMA 

*RES 2: Thb32.55 - 21-DMA 

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

*PRICE: Thb32.24 @ 2300GMT

*SUP 1: Thb32.12 - 2018 Low Jan 5 

*SUP 2: Thb31.88 - Monthly Low Sept 8 2014 

*SUP 3: Thb31.80 - Daily Bear channel base 

*SUP 4: Thb31.72 - 2014 Low July 22

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

case targeting a test of the bear channel base around Thb31.80 today. The

Bollinger base (Thb32.17) and O/S daily studies are key concerns 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: Flirting With 200-DMA

*RES 4: Idr13551 - 21-DMA 

*RES 3: Idr13541 - 55-DMA 

*RES 2: Idr13504 - High Jan 3 

*RES 1: Idr13480 - High Jan 4

*PRICE: Idr13422 @ 2300GMT

*SUP 1: Idr13394 - 200-DMA 

*SUP 2: Idr13384 - 55-WMA 

*SUP 3: Idr13380 - High Sept 26 now support 

*SUP 4: Idr13352 - Monthly High Sept 2017

*COMMENTARY: Losses have defined the new year so far with bears currently

focused on the 200-DMA. Bears now look for a close below Idr13380 to add weight

to the case for a move back to Idr13135 2017 lows. The Bollinger base (Idr13449)

is the key concern for bears with potential to limit follow through. Bulls now

need a close above Idr13480 to ease bearish pressure and above IDr13565 to shift

focus back to 2017 highs.

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

[TOPICS: MTABLE]