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Free AccessMNI Eurozone Inflation Insight – September 2024
MNI POLICY: EU Likely To Ease Debt Reduction Rules
MNI Dollar-Asia Morning FX Technical Analysis
24 January 2018
By Kyle Shortland
Please click on this link to access MNI's daily Dollar-Asia FX Technical
Analysis Pdf http://tinyurl.com/pzkomnu
DOLLAR-SING TECHS: Immediate Focus On 2015 Low
*RES 4: Sgd1.3369 - High Jan 10
*RES 3: Sgd1.3302 - High Jan 12
*RES 2: Sgd1.3273 - High Jan 18
*RES 1: Sgd1.3223 - High Jan 22
*PRICE: Sgd1.3171 @ 2300GMT
*SUP 1: Sgd1.3155 - Daily Bear channel base
*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: 2018 and 2+yr lows continue with the pair remaining heavy and
immediate focus on the bear channel base and 2015 low. A close below the 2015
low shifts immediate focus to Sgd1.2955-1.3000 last seen in Nov/Dec 2014. O/S
studies remain a concern for bears. Bulls now need a close above Sgd1.3223 to
gain breathing room and above Sgd1.3302 to shift initial focus to
Sgd1.3369-1.3421 where the bear channel top & 55-DMA are found.
DOLLAR-WON TECHS: Bulls Need Close Above Krw1076.0
*RES 4: Krw1085.2 - 55-DMA
*RES 3: Krw1082.8 - High Dec 21
*RES 2: Krw1076.0 - High Dec 28
*RES 1: Krw1073.3 - High Jan 11
*PRICE: Krw1070.1 @ 2300GMT
*SUP 1: Krw1062.2 - Low Jan 16
*SUP 2: Krw1058.8 - 2018 Low Jan 8
*SUP 3: Krw1045.6 - Monthly Low Oct 29 2014
*SUP 4: Krw1035.7 - Daily Bear channel base
*COMMENTARY: Failure to trouble 2018 lows sees the pair flirting with the 21-DMA
(Krw1068.3) and bear channel top. Bulls need a close above Krw1076.0 to confirm
a break of the 21-DMA and bear channel top, shifting immediate focus to
Krw1082.8-1085.2 where the 55-DMA is located. Support layers are starting to
build. Bears now need a close below Krw1058.8 to reconfirm focus on
Krw1035.7-1045.6 where the channel base is found.
DOLLAR-MYR TECHS: Immediate Focus On Bear Channel Base
*RES 4: Myr4.0050 - High Jan 11
*RES 3: Myr4.0010 - 21-DMA
*RES 2: Myr3.9850 - High Jan 12
*RES 1: Myr3.9450 - Low Jan 17 & 18 now resistance
*PRICE: Myr3.9260 @ 2300GMT
*SUP 1: Myr3.9215 - 2018 Low Jan 22
*SUP 2: Myr3.9036 - Daily Bear channel base
*SUP 3: Myr3.8800 - Low Apr 29 2016
*SUP 4: Myr3.8470 - 2016 Low Apr 13
*COMMENTARY: Bearish pressure resulted in recent 2018 & 3+yr lows with bears
taking comfort as the pair trades below the 200-WMA (3.9443). Immediate bearish
focus remains on tests of the bear channel base and overall focus on 2016 lows.
O/S daily studies remain the key concern for bears. Bulls now look for a close
above Myr3.9689 to ease bearish pressure and above Myr4.0200 to shift focus to
Myr4.0799-1014 where the 55-DMA is noted.
DOLLAR-CNH TECHS: Cnh6.4140 Resistance Confirms Significance
*RES 4: Cnh6.5017 - Alternating support/resistance
*RES 3: Cnh6.4657 - Low Jan 8 now resistance
*RES 2: Cnh6.4475 - High Jan 16
*RES 1: Cnh6.4140 - Low Nov 25 2015, 2018 Low Jan 15 & 17
*PRICE: Cnh6.4001 @ 2300GMT
*SUP 1: Cnh6.3785 - Alternating daily support/resistance
*SUP 2: Cnh6.3409 - Low Nov 3 2015
*SUP 3: Cnh6.3141 - Low Oct 30 2015
*SUP 4: Cnh6.3014 - 2015 High Feb 3 now support
*COMMENTARY: Fresh 2018 & 2+ year lows again Friday leave the pair looking heavy
with bears focused on Cnh6.3004-3103. Daily studies at O/S levels is now an
issue for bears. Layers of resistance are weighing on the pair with bulls now
needing a close above Cnh6.4140 to gain breathing room and above the 21-DMA
(Cnh6.4780) to hint at a move back to Cnh6.5449-5926 where 55 & 100-DMAs are
situated.
DOLLAR-PHP TECHS: Focus Shifts To 2017 Highs
*RES 4: Php51.850 - 2017 High Oct 27
*RES 3: Php51.610 - Low Oct 30 now resistance
*RES 2: Php51.470 - High Nov 8
*RES 1: Php51.230 - High Nov 15
*PRICE: Php51.100 @ 2300GMT
*SUP 1: Php50.900 - High Jan 22 now support
*SUP 2: Php50.740 - Low Jan 22
*SUP 3: Php50.588 - 55-DMA
*SUP 4: Php50.518 - 200-DMA
*COMMENTARY: Hesitation around the 100-DMA (Php50.855) came to an end with an
aggressive rally and bullish close that sees bulls targeting retest of 2017
highs. O/B daily studies and the Bollinger top (Php51.024) remain concerns for
bulls with potential to limit follow through. Initial support is noted at
Php50.900 with bears needing a close below to gain breathing room and below
Php50.740 to initially pressure 55 & 200-DMAs.
DOLLAR-THB TECHS: Bulls Need Close Above Thb32.06
*RES 4: Thb32.52 - 55-DMA
*RES 3: Thb33.39 - Low Jan 2 now resistance
*RES 2: Thb32.20 - 21-DMA
*RES 1: Thb32.06 - Low Jan 10 now resistance
*PRICE: Thb31.80 @ 2300GMT
*SUP 1: Thb31.72 - 2014 Low July 22, 2018 Low Jan 23
*SUP 2: Thb31.66 - Daily Bear channel base
*SUP 3: Thb31.40 - Low Nov 14 2013
*SUP 4: Thb31.16 - Low Nov 6 2013
*COMMENTARY: Fresh 2018 & 3+yr lows continue with bears currently focused on
Thb31.66 where the bear channel base is located. O/S daily studies remain the
key concern for bears with potential to limit follow through. Bulls still need a
close above Thb32.06 to gain breathing room and above Thb32.99 to return initial
focus to Thb32.52-92 where 55 & 100-DMAs and bear channel top are noted.
DOLLAR-IDR TECHS: 200-DMA Resistance Remains Key, Focus On 2017 Low
*RES 4: Idr13480 - High Jan 4
*RES 3: Idr13470 - 100-DMA
*RES 2: Idr13398 - 200-DMA
*RES 1: Idr13370 - High Jan 18
*PRICE: Idr13320 @ 2300GMT
*SUP 1: Idr13285 - 2018 Low Jan 19
*SUP 2: Idr13250 - Low Sept 19
*SUP 3: Idr13220 - Low Sept 14
*SUP 4: Idr13175 - Low Sept 12
*COMMENTARY: Bears take comfort in consolidation below the 200-DMA and 55-WMA
(Idr13379) with overall focus on 2017 lows. O/S daily studies correcting remain
the key concern for bears with potential to limit follow through. Bulls need a
close above the 200-DMA to ease renewed bearish pressure and hint at a
correction back to key DMAs Idr13470-505. Bears need a close below Idr13285 to
add weight to their case.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.