MNI Dollar-Asia Morning FX Technical Analysis

9 January 2018

By Kyle Shortland

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

http://tinyurl.com/pzkomnu

DOLLAR-SING TECHS: Bulls Need Close Above Sgd1.3342

*RES 4: Sgd1.3497 - 55-DMA 

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

*RES 2: Sgd1.3405 - 21-DMA 

*RES 1: Sgd1.3342 - 2017 Low Sept 8 now resistance

*PRICE: Sgd1.3324 @ 2300GMT

*SUP 1: Sgd1.3293 - Hourly support Jan 8 

*SUP 2: Sgd1.3250 - 2018 Low Jan 5 

*SUP 3: Sgd1.3145 - 2015 Low Apr 29 

*SUP 4: Sgd1.3000 - Monthly Low Dec 16 2014

*COMMENTARY: Bulls take comfort in the rally and relatively bullish close but

continue to look for a close above Sgd1.3342 to gain breathing room and above

Sgd1.3415 to hint at a bigger correction. O/S daily studies correcting adds

support to the bullish case. Bears now look for a close below Sgd1.3293 to ease

pressure on the Sgd1.3342 resistance level.

DOLLAR-WON TECHS: Krw1070.0-1082.8 Resistance Region Key

*RES 4: Krw1082.8 - High Dec 21

*RES 3: Krw1079.3 - 21-DMA

*RES 2: Krw1076.0 - High Dec 28

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

*PRICE: Krw1062.2 @ 2300GMT

*SUP 1: Krw1058.8 - 2018 Low Jan 8

*SUP 2: Krw1047.4 - Daily Bear channel base

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

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

*COMMENTARY: Fresh 2018 & 3+ year lows lacked follow through Monday which is a

concern given daily studies looking to correct from O/S increasing correction

risk. In saying that, bulls still need 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. While Krw1070.0 caps immediate bearish focus remains on layers of

support Krw1045.6-1047.4 where the bear channel base is situated.

DOLLAR-MYR TECHS: Bulls Need Close Above Myr4.0260

*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: Myr3.9860 - 2018 Low Jan 8 

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

*SUP 3: Myr3.9380 - 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 (Myr4.0004) 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 (Myr4.1337) 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: Cnh6.4959 @ 2300GMT

*SUP 1: Cnh6.4647 - 2018 Low Jan 8

*SUP 2: Cnh6.4592 - 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 (Cnh6.5971) 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

Cnh6.5695-5977 where key DMAs are noted.

DOLLAR-PHP TECHS: O/S Daily Studies Correcting

*RES 4: Php50.810 - High Dec 7 

*RES 3: Php50.500 - 200-DMA 

*RES 2: Php50.350 - High Dec 22 

*RES 1: Php50.247 - 21-DMA

*PRICE: Php50.150 @ 2300GMT

*SUP 1: Php49.930 - High Jan 4 now support 

*SUP 2: Php49.770 - Low June 16 

*SUP 3: Php49.440 - Low June 15 

*SUP 4: Php49.268 - Daily Bear channel base

*COMMENTARY: The lack of follow through on Friday's 6mth lows combined with

daily studies correcting from O/S has resulted in a bounce back towards the

Php50.247-500 resistance region where 21 & 200-DMAs are noted. Correcting O/S

studies add support to the bullish case. Bulls look for a close above the

200-DMA to shift focus to Php50.780-51.030 where 55 & 100-DMAs are noted. Bears

now need a close below Php49.930 to ease pressure on the 21-DMA.

DOLLAR-THB TECHS: O/S Daily Studies Key Concern

*RES 4: Thb32.92 - High Nov 17 

*RES 3: Thb32.77 - 55-DMA 

*RES 2: Thb32.55 - 21-DMA 

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

*PRICE: Thb32.21 @ 2300GMT

*SUP 1: Thb32.07 - 2018 Low Jan 8 

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

*SUP 3: Thb31.79 - 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 Thb31.79 today. The

Bollinger base (Thb32.18) and O/S daily studies are key concerns for bears with

potential to limit follow through. Layers of resistance remain 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: Idr13537 - 55-DMA 

*RES 3: Idr13504 - High Jan 3 

*RES 2: Idr13480 - High Jan 4 

*RES 1: Idr13433 - High Jan 5

*PRICE: Idr13426 @ 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 look for a close below Idr13380 to add weight to

the case for a move back to Idr13135 2017 lows. The Bollinger base (Idr13431) 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]