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Free AccessMNI Dollar-Asia Morning FX Technical Analysis
26 January 2018
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/pzkomnu
DOLLAR-SING TECHS: Bounces From Key Support
*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: Sgd1.3072 - Hourly support Jan 25
*SUP 2: Sgd1.3000 - Monthly Low Dec 16 2014
*SUP 3: Sgd1.2955 - Low Nov 27 2014
*SUP 4: Sgd1.2865 - Low Nov 10 2014
*COMMENTARY: 2018 and 3+yr lows continue although the lack of follow through is
a concern given daily studies correcting from O/S and momentum divergence noted.
Bears now need a close below this level to reconfirm initial focus on 1.2955-00.
Bulls now need a close above Sgd1.3145 to gain breathing room and above
Sgd1.3223 to shift initial focus to Sgd1.3273-1.3369.
DOLLAR-WON TECHS: Immediate Focus On Krw1031.0-1045.6
*RES 4: Krw1076.0 - High Dec 28
*RES 3: Krw1073.3 - High Jan 11
*RES 2: Krw1067.0 - 21-DMA
*RES 1: Krw1062.2 - Low Jan 16 now resistance
*PRICE: Krw1058.6 @ 2300GMT
*SUP 1: Krw1057.9 - Low Jan 16
*SUP 2: Krw1045.6 - Monthly Low Oct 29 2014
*SUP 3: Krw1035.0 - Daily Bear channel base
*SUP 4: Krw1031.0 - Low Sept 17 2014
*COMMENTARY: Bulls failed to take out the Krw1076.0 resistance needed to confirm
a break of the 21-DMA and bear channel top, shifting immediate focus to
Krw1082.8-1083.4 where the 55-DMA is located. Fresh 2018 and 3+yr lows reconfirm
the bullish bias with focus currently on Krw1031.0-1045.6 where the daily bear
channel base is noted. Daily studies are well placed for further losses.
DOLLAR-MYR TECHS: Bears Targeting 2016 Low
*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: Myr3.8870 - 2018 Low Jan 25
*SUP 2: Myr3.8800 - Low Apr 29 2016
*SUP 3: Myr3.8793 - Bollinger band base
*SUP 4: Myr3.8470 - 2016 Low Apr 13
*COMMENTARY: Fresh 2018 & 2yr lows continue with bears taking comfort as the
pair trades below the 200-WMA (3.9441). The break of the bear channel base
lacked a little follow through but bears now focus on 2016 lows. O/S daily
studies remain the key concern for bears. Bulls now look for a close above
Myr3.9215 to ease bearish pressure and above Myr4.0200 to shift focus to
Myr4.0626-1014 where the 55-DMA is noted.
DOLLAR-CNH TECHS: Cnh6.3591-3870 Resistance Region Key
*RES 4: Cnh6.4140 - Low Nov 25 2015, 2018 Low Jan 15 & 17
*RES 3: Cnh6.3870 - Low Jan 19 now resistance
*RES 2: Cnh6.3591 - High Jan 25
*RES 1: Cnh6.3453 - Low Jan 24 now resistance
*PRICE: Cnh6.3266 @ 2300GMT
*SUP 1: Cnh6.2956 - 2018 Low Jan 25
*SUP 2: Cnh6.2607 - Low Feb 24 2015
*SUP 3: Cnh6.2293 - High Mar 13 2015 now support
*SUP 4: Cnh6.2130 - Low Aug 8
*COMMENTARY: Fresh 2018 & 2+ year lows have lacked follow through which is less
than ideal given daily studies at very O/S levels and overdue a correction.
Bears now look for a close below Cnh6.2607 to confirm focus on Cnh6.2130-2293.
The Cnh6.3591 resistance is key today with bulls needing a close above to ease
bearish pressure. A close above Cnh6.3870 is needed to hint at a correction back
to Cnh6.4475-4657 where the 21-DMA is noted.
DOLLAR-PHP TECHS: Looking A Little Heavy
*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: Php50.810 @ 2300GMT
*SUP 1: Php50.720 - Low Jan 25
*SUP 2: Php50.572 - 55-DMA
*SUP 3: Php50.525 - 200-DMA
*SUP 4: Php50.369 - 21-DMA
*COMMENTARY: Time spent above the 100-DMA (Php50.851) was brief with the pair
now looking a little heavy and hinting at a correction back to Php50.369-572
where key DMAs are noted. Correcting O/B daily studies add weight to the case
for a correction. Bulls now need a close above Php50.910 to gain breathing room
and above Php51.230 to confirm focus on tests of 2017 highs.
DOLLAR-THB TECHS: Overall Focus Now On Thb30.80
*RES 4: Thb33.39 - Low Jan 2 now resistance
*RES 3: Thb32.08 - 21-DMA
*RES 2: Thb32.06 - Low Jan 10 now resistance
*RES 1: Thb31.72 - 2014 Low July 22 now resistance
*PRICE: Thb31.45 @ 2300GMT
*SUP 1: Thb31.45 - Bollinger band base
*SUP 2: Thb31.28 - 2018 Low Jan 25
*SUP 3: Thb31.16 - Low Nov 6 2013
*SUP 4: Thb30.80 - Monthly Low July 24 2013
*COMMENTARY: Fresh 2018 & 4+yr lows continue although the lack of follow through
courtesy of the Bollinger band base is a concern as are O/S daily studies
overdue a correction. 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. Bears remain focused on Thb30.80 while Thb31.72 caps.
DOLLAR-IDR TECHS: 200-DMA Resistance Remains Key, Focus On 2017 Low
*RES 4: Idr13480 - High Jan 4
*RES 3: Idr13469 - 100-DMA
*RES 2: Idr13398 - 200-DMA
*RES 1: Idr13370 - High Jan 18
*PRICE: Idr13287 @ 2300GMT
*SUP 1: Idr13265 - 2018 Low Jan 25
*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
(Idr13378) 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 Idr13469-505. Bears need a close below Idr13220 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.