MNI Dollar-Asia Morning FX Technical Analysis

12 January 2018

By Kyle Shortland

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

http://tinyurl.com/pzkomnu

DOLLAR-SING TECHS: Remains Capped Ahead of 21-DMA

*RES 4: Sgd1.3512 - 100-DMA 

*RES 3: Sgd1.3487 - 55-DMA 

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

*RES 1: Sgd1.3380 - 21-DMA

*PRICE: Sgd1.3293 @ 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: Bulls have failed to capitalise on the recovery from 2018 lows with

the pair remaining capped ahead of the 21-DMA. Bulls continue to look for a

close above Sgd1.3415 to shift focus to Sgd1.3480-1.3538 where 55 & 100-DMAs are

situated. The pair is again looking a little heavy with bears now looking for a

close below 2018 lows to confirm focus on Sgd1.3000-1.3145.

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

*RES 4: Krw1093.1 - 55-DMA

*RES 3: Krw1082.8 - High Dec 21

*RES 2: Krw1076.1 - 21-DMA

*RES 1: Krw1076.0 - High Dec 28

*PRICE: Krw1072.0 @ 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: Krw1044.2 - 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 Krw1093.1-1101.4 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: Myr4.0528 - 21-DMA 

*RES 2: Myr4.0450 - High Jan 2 

*RES 1: Myr4.0260 - High Jan 3

*PRICE: Myr4.0050 @ 2300GMT

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

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

*SUP 3: Myr3.9381 - 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 Myr4.1218-1423 where the 55-DMA (Myr4.1218) 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 Cnh6.5449

*RES 4: Cnh6.5695 - High Dec 25 

*RES 3: Cnh6.5449 - High Jan 10 

*RES 2: Cnh6.5396 - 21-DMA 

*RES 1: Cnh6.5017 - Alternating support/resistance

*PRICE: Cnh6.4917 @ 2300GMT

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

*SUP 2: Cnh6.4575 - Bollinger band base

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

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

*COMMENTARY: The 21-DMA has so far capped the recovery form 2018 lows with the

pair again looking heavy and bears focused on tests of 2017 lows. The pair is

currently flirting with the 200-WMA (Cnh6.4890) with a close below to add weight

to the bearish case. Bulls now look for a close above Cnh6.5449 to confirm an

easing of bearish pressure and above Cnh6.5926 to end bearish hopes and shift

focus to Cnh6.6528-6.6651.

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

*RES 4: Php50.810 - High Dec 7 

*RES 3: Php50.724 - 55-DMA 

*RES 2: Php50.696 - Bollinger band top 

*RES 1: Php50.500 - 200-DMA

*PRICE: Php50.360 @ 2300GMT

*SUP 1: Php50.208 - 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 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 Php50.724-51.030 where 55 &

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

the 200-DMA.

DOLLAR-THB TECHS: Bears Focused On Channel Base

*RES 4: Thb32.71 - 55-DMA 

*RES 3: Thb32.49 - 21-DMA 

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

*RES 1: Thb32.06 - Low Jan 10 now resistance

*PRICE: Thb31.99 @ 2300GMT

*SUP 1: Thb31.88 - Monthly Low Sept 8 2014 

*SUP 2: Thb31.75 - Daily Bear channel base 

*SUP 3: Thb31.72 - 2014 Low July 22 

*SUP 4: Thb31.40 - Low Nov 14 2013

*COMMENTARY: Bearish confidence received a boost Thursday with fresh 3+yr lows

reconfirming bearish focus on Thb31.72-75 where the bear channel base is

located. O/S daily studies looking to correct remain the key concern for bears.

Layers of resistance accumulating are weighing with bulls needing a close above

Thb32.39 to ease bearish pressure and above the 21-DMA to shift initial focus to

Thb32.71-32.92 where the bear channel top, 55 & 100-DMAs are located.

DOLLAR-IDR TECHS: Bears Need Close Below 55-WMA

*RES 4: Idr13529 - 55-DMA 

*RES 3: Idr13504 - High Jan 3 

*RES 2: Idr13480 - High Jan 4 

*RES 1: Idr13470 - 100-DMA

*PRICE: Idr13397 @ 2300GMT

*SUP 1: Idr13396 - 200-DMA 

*SUP 2: Idr13383 - 55-WMA 

*SUP 3: Idr13380 - High Sept 26 now support 

*SUP 4: Idr13352 - Monthly High Sept 2017

*COMMENTARY: The pair has remained 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]