MNI Dollar-Asia Morning FX Technical Analysis

1 February 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: Above Sgd1.3223 to Shift Focus Higher

*RES 4: Sgd1.3223 - High Jan 22 

*RES 3: Sgd1.3209 - 21-DMA 

*RES 2: Sgd1.3168 - Low Jan 19 now resistance 

*RES 1: Sgd1.3149 - High Jan 30

*PRICE: Sgd1.3112 @ 2300GMT

*SUP 1: Sgd1.3066 - Low Jan 31 

*SUP 2: Sgd1.3039 - Low Jan 26 

*SUP 3: Sgd1.3000 - Monthly Low Dec 16 2014 

*SUP 4: Sgd1.2955 - Low Nov 27 2014

*COMMENTARY: 2018 and 3+yr lows continued last week although the lack of follow

through is a concern given correcting O/S studies and momentum divergence. Bulls

need a close above Sgd1.3168 to ease bearish pressure and above Sgd1.3223 to

confirm a break of the 21-DMA and shift initial focus to Sgd1.3273-1.3369 where

the 55-DMA is noted. Bears now need a close below Sgd1.3066 to retain initial

focus on Sgd1.2955.

     DOLLAR-WON TECHS: Krw1076.0-1082.8 Resistance Region Key

*RES 4: Krw1096.2 - High Dec 7

*RES 3: Krw1082.8 - High Dec 21

*RES 2: Krw1079.8 - 55-DMA

*RES 1: Krw1076.0 - High Dec 28

*PRICE: Krw1067.9 @ 2300GMT

*SUP 1: Krw1066.8 - 21-DMA

*SUP 2: Krw1057.9 - 2018 Low Jan 25

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

*SUP 4: Krw1031.0 - Low Sept 17 2014

*COMMENTARY: The recovery from recent 2018 lows has resulted in closes above the

bear channel top (Krw1068.7) with the pair pressuring the Bollinger band top

(Krw1066.7). Bulls now look for a close above Krw1076.0 to confirm an easing of

bearish pressure and above Krw1082.8 to shift focus to Krw1096.2-1110.5 where

the 100-DMA (Krw1101.7) is noted. Bears need a close below the 21-DMA to ease

pressure on resistance layers and reconfirm focus on Krw1031.0-1045.6.

     DOLLAR-MYR TECHS: Bulls Need Close Above Myr3.9215

*RES 4: Myr3.9689 - High Jan 18 

*RES 3: Myr3.9574 - 21-DMA 

*RES 2: Myr3.9491 - High Jan 22 

*RES 1: Myr3.9215 - Low Jan 22 now resistance

*PRICE: Myr3.8995 @ 2300GMT

*SUP 1: Myr3.8670 - 2018 Low Jan 29 

*SUP 2: Myr3.8470 - 2016 Low Apr 13 

*SUP 3: Myr3.8180 - High July 30 2015 now support 

*SUP 4: Myr3.7795 - Low July 10

*COMMENTARY: Fresh 2018 & 2yr lows lacked follow through which is a concern for

bears given daily studies correcting from O/S. Bulls continue to look for a

close above Myr3.9215 to ease bearish pressure and above Myr3.9689 to confirm a

break of the 21-DMA and hint at a move to Myr4.0450-0626 where the 55-DMA is

noted with above Myr4.0200 to confirm. Bears remain focused on 2016 lows while

Myr3.9215 caps.

     DOLLAR-CNH TECHS: Bulls Need Close Above Cnh6.3591

*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: Cnh6.3106 - Low Jan 26 now resistance

*PRICE: Cnh6.2975 @ 2300GMT

*SUP 1: Cnh6.2830 - 2018 Low Jan 31

*SUP 2: Cnh6.2806 - Bollinger band base

*SUP 3: Cnh6.2607 - Low Feb 24 2015

*SUP 4: Cnh6.2293 - High Mar 13 2015 now support

*COMMENTARY: Fresh 2018 & 2+ year lows continue with O/S studies and Bollinger

base key concerns for bears. Bears continue to look for a close below Cnh6.2607

to confirm focus on Cnh6.2130-2293. The Cnh6.3591 resistance remains key with

bulls needing a close above to ease bearish pressure. A close above the 21-DMA

(Cnh6.4217) is needed to hint at a correction back to Cnh6.5017-5449 where the

55-DMA is noted.

     DOLLAR-PHP TECHS: Php51.200 Support Key

*RES 4: Php51.850 - 2017 High Oct 27 

*RES 3: Php51.811 - Weekly Bollinger band top 

*RES 2: Php51.610 - Low Oct 30 now resistance 

*RES 1: Php51.500 - 2018 High Jan 30

*PRICE: Php51.295 @ 2300GMT

*SUP 1: Php51.250 - Low Jan 31 

*SUP 2: Php51.200 - High Jan 29 now support 

*SUP 3: Php50.950 - High Jan 26 now support 

*SUP 4: Php50.720 - Low Jan 25

*COMMENTARY: Bullish confidence grew with the gapping move higher Tuesday. O/B

daily studies and the Bollinger band top (Php51.514) remain concerns for bulls.

In saying that, bears still need a close below Php51.200 to ease bullish

pressure and below Php50.720 to shift focus back to key DMAs Php50.546-600 where

21, 55 & 200-DMAs are clustered. Bulls currently focus on 2017 highs which

Php51.200 supports.

     DOLLAR-THB TECHS: Overall Focus On Thb30.80 While Thb31.72 Caps

*RES 4: Thb33.34 - 55-DMA 

*RES 3: Thb32.06 - Low Jan 10 now resistance 

*RES 2: Thb31.85 - 21-DMA 

*RES 1: Thb31.72 - 2014 Low July 22 now resistance

*PRICE: Thb31.31 @ 2300GMT

*SUP 1: Thb31.27 - 2018 Low Jan 25 

*SUP 2: Thb31.22 - Bollinger band base 

*SUP 3: Thb31.16 - Low Nov 6 2013 

*SUP 4: Thb30.80 - Monthly Low July 24 2013

*COMMENTARY: Recent 2018 & 4+yr lows have lacked follow through courtesy of the

Bollinger band base which is a concern as are O/S daily studies overdue a

correction. Bulls still need a close above Thb31.72 to gain breathing room and

above Thb32.06 to confirm a break of the 21-DMA & shit initial focus back to

Thb32.34-58 where the 55-DMA is noted. Bears remain focused on Thb30.80 while

Thb31.72 caps.

     DOLLAR-IDR TECHS: Idr13370 Support Remains Key

*RES 4: Idr13504 - High Jan 3 

*RES 3: Idr13480 - High Jan 4 

*RES 2: Idr13478 - 55-DMA 

*RES 1: Idr13440 - High Jan 30

*PRICE: Idr13430 @ 2300GMT

*SUP 1: Idr13371 - 21-DMA 

*SUP 2: Idr13370 - High Jan 18 now support 

*SUP 3: Idr13265 - 2018 Low Jan 25 

*SUP 4: Idr13220 - Low Sept 14

*COMMENTARY: Time spent above the 200-DMA (Idr13400) has been brief with the

pullback Wednesday leaving the pair a little offered and pressuring key support.

Bears need a close below Idr13370 to ease renewed bullish pressure and return

focus to 2018 lows. While Idr13370 supports bulls focus on Idr13478-504 with a

close above to hint at a move back to Idr13565-640 where 2017 highs are noted.

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

[TOPICS: MTABLE]