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Free AccessMNI Dollar-Asia Morning FX Technical Analysis
25 January 2018
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/pzkomnu
DOLLAR-SING TECHS: Initial Focus Shifts To Sgd1.2955-00
*RES 4: Sgd1.3302 - High Jan 12
*RES 3: Sgd1.3273 - High Jan 18
*RES 2: Sgd1.3223 - High Jan 22
*RES 1: Sgd1.3145 - 2015 Low Apr 29 now resistance
*PRICE: Sgd1.3078 @ 2300GMT
*SUP 1: Sgd1.3000 - Monthly Low Dec 16 2014
*SUP 2: Sgd1.2955 - Low Nov 27 2014
*SUP 3: Sgd1.2865 - Low Nov 10 2014
*SUP 4: Sgd1.2825 - High Oct 3 2014 now support
*COMMENTARY: 2018 and 3+yr lows continue with the pair remaining heavy and
immediate focus shifting to Sgd1.2955-1.3000 last seen in Nov/Dec 2014. O/S
studies and the Bollinger base (Sgd1.3112) remain concern for bears but have
having no impact. Bulls now need a close above Sgd1.145 to gain breathing room
and above Sgd1.3223 to shift initial focus to Sgd1.3273-1.3369.
DOLLAR-WON TECHS: Bulls Need Close Above Krw1076.0
*RES 4: Krw1084.4 - 55-DMA
*RES 3: Krw1082.8 - High Dec 21
*RES 2: Krw1076.0 - High Dec 28
*RES 1: Krw1073.3 - High Jan 11
*PRICE: Krw1070.2 @ 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: Krw1034.7 - Daily Bear channel base
*COMMENTARY: Failure to trouble 2018 lows sees the pair flirting with the 21-DMA
(Krw1067.9) 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
Krw1082.8-1084.4 where the 55-DMA is located. Support layers are starting to
build but bears still need a close below Krw1058.8 to reconfirm focus on
Krw1034.7-1045.6 where the channel base is found.
DOLLAR-MYR TECHS: Immediate Focus On Bear Channel Base
*RES 4: Myr3.9931 - 21-DMA
*RES 3: Myr3.9850 - High Jan 12
*RES 2: Myr3.9450 - Low Jan 17 & 18 now resistance
*RES 1: Myr3.9215 - Low Jan 22 now resistance
*PRICE: Myr3.9110 @ 2300GMT
*SUP 1: Myr3.8996 - Daily Bear channel base
*SUP 2: Myr3.8898 - Bollinger band base
*SUP 3: Myr3.8800 - Low Apr 29 2016
*SUP 4: Myr3.8470 - 2016 Low Apr 13
*COMMENTARY: Bearish continues to result in 2018 & 2yr lows with bears taking
comfort as the pair trades below the 200-WMA (3.9442). 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
Myr3.9491 to ease bearish pressure and above Myr4.0200 to shift focus to
Myr4.0742-1014 where the 55-DMA is noted.
DOLLAR-CNH TECHS: Focus Firmly On Cnh6.3014-3141
*RES 4: Cnh6.4657 - Low Jan 8 now resistance
*RES 3: Cnh6.4475 - High Jan 16
*RES 2: Cnh6.4140 - Low Nov 25 2015, 2018 Low Jan 15 & 17
*RES 1: Cnh6.3870 - Low Jan 19 now resistance
*PRICE: Cnh6.3510 @ 2300GMT
*SUP 1: Cnh6.3409 - Low Nov 3 2015
*SUP 2: Cnh6.3141 - Low Oct 30 2015
*SUP 3: Cnh6.3014 - 2015 High Feb 3 now support
*SUP 4: Cnh6.2607 - Low Feb 24 2015
*COMMENTARY: Fresh 2018 & 2+ year lows continue with the pair remaining heavy
and 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 (Cnh6.4689)
to hint at a move back to Cnh6.5449-5926 where 55 & 100-DMAs are situated.
DOLLAR-PHP TECHS: Php50.740-900 Support Key Today
*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: Php50.960 @ 2300GMT
*SUP 1: Php50.900 - High Jan 22 now support
*SUP 2: Php50.740 - Low Jan 22
*SUP 3: Php50.579 - 55-DMA
*SUP 4: Php50.522 - 200-DMA
*COMMENTARY: Hesitation around the 100-DMA (Php50.852) came to an end Wed with
an aggressive rally and bullish close that shifted focus to 2017 highs. O/B
daily studies and the Bollinger top (Php51.110) remain concerns for bulls and
now 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: Overall Focus No On Thb30.80
*RES 4: Thb33.39 - Low Jan 2 now resistance
*RES 3: Thb32.20 - 21-DMA
*RES 2: Thb32.06 - Low Jan 10 now resistance
*RES 1: Thb31.72 - 2014 Low July 22 now resistance
*PRICE: Thb31.80 @ 2300GMT
*SUP 1: Thb31.41 - Bear channel base off Dec 28 high
*SUP 2: Thb31.40 - Low Nov 14 2013
*SUP 3: Thb31.16 - Low Nov 6 2013
*SUP 4: Thb30.80 - Monthly Low July 24 2013
*COMMENTARY: Fresh 2018 & 4+yr lows continue with the likely close below the LT
bear channel base adding weight to the case for a move that now targets Thb30.80
July 2013 monthly lows. O/S daily studies and the Bollinger base (Thb31.51)
remain key concerns for bears but at present are having no impact. Bulls now
need a close above Thb31.72 to gain breathing room and above the 21-DMA to shit
initial focus back to Thb32.39-58 where the 55-DMA is 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: Idr13311 @ 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.