MNI Dollar-Asia Morning FX Technical Analysis

6 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: Bulls Need Close Above Sgd1.3223

*RES 4: Sgd1.3315 - Daily bear channel top (Off Oct highs) 

*RES 3: Sgd1.3302 - High Jan 12 

*RES 2: Sgd1.3273 - High Jan 18 

*RES 1: Sgd1.3223 - High Jan 22

*PRICE: Sgd1.3211 @ 2300GMT

*SUP 1: Sgd1.3193 - 21-DMA 

*SUP 2: Sgd1.3149 - High Jan 30 now support 

*SUP 3: Sgd1.3106 - Hourly support Feb 2 

*SUP 4: Sgd1.3066 - Low Jan 31

*COMMENTARY: The recovery from recent 2018 lows now sees the pair trading above

the 21-DMA (Sgd1.3193) and pressuring key resistance. Bulls look for a close

above Sgd1.3223 to confirm a break of the 21-DMA and shift initial focus to

Sgd1.3273-1.3369 where the 55-DMA and bear channel top are situated. Support

layers are following the pair higher with bears now needing a close below

Sgd1.3149 to ease renewed bullish pressure.

     DOLLAR-WON TECHS: Immediate Focus on 100-DMA

*RES 4: Krw1107.5 - High Nov 16

*RES 3: Krw1101.4 - High Nov 20

*RES 2: Krw1100.1 - 100-DMA

*RES 1: Krw1096.2 - High Dec 7

*PRICE: Krw1088.5 @ 2300GMT

*SUP 1: Krw1082.8 - High Dec 21 now support

*SUP 2: Krw1078.2 - 55-DMA

*SUP 3: Krw1076.0 - High Dec 28 now support

*SUP 4: Krw1073.9 - High Jan 30 now support

*COMMENTARY: Having closed above the 55-DMA Friday for the first time since Oct

bulls took comfort in the gapping move Monday that now sees focus on the

Krw1096.2-1101.4 region where the 100-DMA is located. Bulls now look for a close

above Krw1101.4 to pressure Krw1107.5-1116.6 where the 200-DMA is located. Bears

now look for a close below Krw1082.8 to ease bullish pressure and below

Krw1073.9 to hint at a move back to 2018 lows.

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

*RES 4: Myr3.9689 - High Jan 18 

*RES 3: Myr3.9491 - High Jan 22 

*RES 2: Myr3.9449 - 21-DMA 

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

*PRICE: Myr3.9010 @ 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: Recent 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 Myr4.0381-0626 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: Cnh6.3591 Resistance Remains 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: Cnh6.3865 - 21-DMA 

*RES 1: Cnh6.3591 - High Jan 25

*PRICE: Cnh6.3114 @ 2300GMT

*SUP 1: Cnh6.2761 - 2018 Low Feb 2

*SUP 2: Cnh6.2607 - Low Feb 24 2015

*SUP 3: Cnh6.2460 - Low Feb 24 2015

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

*COMMENTARY: 2018 & 2+ year lows continued Friday but follow through has been

lacking. Combined with correcting O/S daily studies this increases the

correction risk. Bulls continue to look for a close above Cnh6.3591 to ease

bearish pressure. A close above Cnh6.4140 is needed to confirm a break of the

21-DMA & hint at a correction back to Cnh6.5017-5449 where the 55-DMA

(Cnh6.5024) is noted. Bears remain focused on Cnh6.2293-2460.

     DOLLAR-PHP TECHS: Hesitating Ahead Of 2017 High, Php51.200 Support Key

*RES 4: Php52.085 - Monthly Low July 10 2006 now resistance 

*RES 3: Php51.850 - 2017 High Oct 27 

*RES 2: Php51.835 - Weekly Bollinger band top 

*RES 1: Php51.760 - 2018 High Feb 2

*PRICE: Php51.510 @ 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: The continued recovery from 2018 lows resulted in recent 2018 &

3mth highs but hesitation ahead of the 2017 high is an issue with daily studies

looking to correct from O/B. In saying that, bears still need a close below

Php51.200 to ease bullish pressure and shift focus back to Php50.566-950 where

key DMAs are situated. Bulls need a close above Php51.850 2017 highs to add

support to their case initially targeting Php52.085.

     DOLLAR-THB TECHS: Close Above Php31.72 to Initially Target Thb32.06-39

*RES 4: Thb32.25 - 55-DMA 

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

*RES 2: Thb31.72 - 2014 Low July 22 now resistance 

*RES 1: Thb31.71 - 21-DMA

*PRICE: Thb31.61 @ 2300GMT

*SUP 1: Thb31.52 - High Jan 26 now support 

*SUP 2: Thb31.27 - 2018 Low Jan 25 

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

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

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

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

correction. Bulls now need a close above Thb31.72 to confirm a break of the

21-DMA and ease bearish pressure with immediate focus shifting to Thb32.06-39

where the 55-DMA is located. Bears now need a close below Thb31.52 to ease

pressure on the 21-DMA.

     DOLLAR-IDR TECHS: Idr13450 Support Now Key

*RES 4: Idr13640 - 2017 High Oct 27 

*RES 3: Idr13605 - High Oct 30 

*RES 2: Idr13565 - High Dec 21 

*RES 1: Idr13537 - Falling daily TL Off 2017 high

*PRICE: Idr13515 @ 2300GMT

*SUP 1: Idr13474 - 55-DMA 

*SUP 2: Idr13450 - High Feb 2 now support 

*SUP 3: Idr13374 - 21-DMA 

*SUP 4: Idr13370 - High Jan 18 now support

*COMMENTARY: The recovery from 2018 lows (Idr13265) sees pressure back on the

falling daily TL off 2017 highs with bulls taking comfort in closes above the 55

& 100-DMAs. Bulls look for a close above the TL to add support to the case for a

test of 2017 highs. The Bollinger band top (Idr13490) is the key concern for

bulls. Bears now need a close below Idr13450 to ease bullish pressure and below

IDr13370 to pressure 2018 lows.

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

[TOPICS: MTABLE]