MNI Dollar-Asia Morning FX Technical Analysis

11 January 2018

By Kyle Shortland

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

http://tinyurl.com/pzkomnu

DOLLAR-SING TECHS: Sgd1.3293 Support Key

*RES 4: Sgd1.3512 - 100-DMA 

*RES 3: Sgd1.3487 - 55-DMA 

*RES 2: Sgd1.3415 - Low Dec 1 now resistance 

*RES 1: Sgd1.3388 - 21-DMA

*PRICE: Sgd1.3352 @ 2300GMT

*SUP 1: Sgd1.3303 - Low Jan 10 

*SUP 2: Sgd1.3293 - Hourly support Jan 8 

*SUP 3: Sgd1.3250 - 2018 Low Jan 5 

*SUP 4: Sgd1.3145 - 2015 Low Apr 29

*COMMENTARY: Initial focus returned to the Sgd1.3388-1.3415 region where the

21-DMA is located following the recovery from recent 2018 lows. Daily studies

correcting from O/S have added support to the bullish case with a close above

Sgd1.3415 needed to shift focus to Sgd1.3487-1.3538 where 55 & 100-DMAs are

situated. Bears now need a close below Sgd1.3293 to return pressure to 2018

lows.

DOLLAR-WON TECHS: Bulls Need Close Above Krw1082.8

*RES 4: Krw1094.1 - 55-DMA

*RES 3: Krw1082.8 - High Dec 21

*RES 2: Krw1077.0 - 21-DMA

*RES 1: Krw1076.0 - High Dec 28

*PRICE: Krw1071.9@ 2300GMT

*SUP 1: Krw1065.5 - Low Jan 9

*SUP 2: Krw1058.8 - 2018 Low Jan 8

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

*SUP 4: Krw1045.3 - Daily Bear channel base

*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 Krw1082.8 to confirm breaks

of the 21-DMA and bear channel top, shifting focus to Krw1094.1-1101.4 where the

55-DMA is noted. Bears now need a close below Krw1065.5 to retain focus on the

bear channel base and Krw1045.3-1045.6.

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

*RES 4: Myr4.1014 - High Dec 12 

*RES 3: Myr4.0561 - 21-DMA 

*RES 2: Myr4.0450 - High Jan 2 

*RES 1: Myr4.0260 - High Jan 3

*PRICE: Myr4.0150 @ 2300GMT

*SUP 1: Myr3.9800 - 2018 Low Jan 9 

*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: A bullish key day reversal was noted Tuesday which is a concern for

bears given daily studies looking to correct from very O/S levels. Bulls

continue to look for a close above Myr4.0260 to gain breathing room and above

Myr4.1014 to shift focus to Myr4.1260-1423 where the 55-DMA (Myr4.1260) is

situated. Bears now look for a close below Myr4.9750 to reconfirm a bearish bias

targeting the 200-WMA.

DOLLAR-CNH TECHS: Bulls Need Close Above 21-DMA

*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: Cnh6.5452 - 21-DMA

*PRICE: Cnh6.5206 @ 2300GMT

*SUP 1: Cnh6.5017 - High Jan 8 now support

*SUP 2: Cnh6.4647 - 2018 Low Jan 8

*SUP 3: Cnh6.4605 - Bollinger band base

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

*COMMENTARY: O/S daily studies appear to be impacting with gains this week

seeing the pair bounce back towards the 21-DMA. Bulls need a close above the

21-DMA to confirm an easing of bearish pressure and above the 100-DMA

(Cnh6.5944) to shift focus to Cnh6.6528-6.7029 where the 200-DMA and monthly

highs are noted. Bears still need a close below Cnh6.5017 to ease pressure on

the 21-DMA and retain focus on 2017 lows.

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

*RES 4: Php50.810 - High Dec 7 

*RES 3: Php50.743 - 55-DMA 

*RES 2: Php50.696 - Bollinger band top 

*RES 1: Php50.500 - 200-DMA

*PRICE: Php50.380 @ 2300GMT

*SUP 1: Php50.214 - 21-DMA 

*SUP 2: Php50.155 - Low Jan 9 

*SUP 3: Php49.930 - High Jan 4 now support 

*SUP 4: Php49.770 - Low June 16

*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

200-DMA. Correcting O/S studies add support to the bullish case. Bulls continue

to look for a close above the 200-DMA to shift focus to Php50.743-51.030 where

55 & 100-DMAs are noted. Bears now need a close below Php50.155 to ease pressure

on the 200-DMA.

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

*RES 4: Thb32.92 - High Nov 17 

*RES 3: Thb32.73 - 55-DMA 

*RES 2: Thb32.51 - 21-DMA 

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

*PRICE: Thb32.11 @ 2300GMT

*SUP 1: Thb32.06 - 2018 Low Jan 10 

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

*SUP 3: Thb31.77 - Daily Bear channel base 

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

*COMMENTARY: Downside follow through has been lacking so far this week which is

less than ideal given daily studies looking to correct from very O/S levels.

Bulls now need a close above Thb32.39 to ease bearish pressure and above the

21-DMA to shift initial focus to Thb32.73-33.07 where the bear channel top, 55 &

100-DMAs are located. While Thb32.39 caps bears remain focused on Thb31.72-88

where 2014 lows are noted.

DOLLAR-IDR TECHS: Supported Ahead of 55-DMA

*RES 4: Idr13532 - 55-DMA 

*RES 3: Idr13504 - High Jan 3 

*RES 2: Idr13480 - High Jan 4 

*RES 1: Idr13470 - 100-DMA

*PRICE: Idr13426 @ 2300GMT

*SUP 1: Idr13396 - 200-DMA 

*SUP 2: Idr13384 - 55-WMA 

*SUP 3: Idr13380 - High Sept 26 now support 

*SUP 4: Idr13352 - Monthly High Sept 2017

*COMMENTARY: The pair remains uncomfortable on dips below the 200-DMA with the

55-WMA currently supporting. Daily studies looking to correct from modestly O/S

levels are less than ideal for bears. In saying that, bulls still need a close

above Idr13480 to ease bearish pressure and above Idr13565 to shift focus back

to 2017 highs. Bears now need a close below the 55-WMA to reconfirm a bearish

bias targeting 2017 lows.

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

[TOPICS: MTABLE]