MNI Dollar-Asia Morning FX Technical Analysis

7 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: Topside Follow Through Lacking, Sgd1.3149 Support Key

*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: Sgd1.3237 - High Feb 6

*PRICE: Sgd1.3184 @ 2300GMT

*SUP 1: Sgd1.3178 - 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: Bulls have so far failed to gain traction above the 21-DMA with

topside follow through lacking on the break of Sgd1.3223. The Sgd1.3149 support

remains key today. Bears need a close below to ease bullish pressure and shift

focus back to tests of 2018 lows and then the Sgd1.2954 bear channel base. The

slow stochastic study is correcting from O/B which is a concern for bulls.

     DOLLAR-WON TECHS: 100-DMA Capping

*RES 4: Krw1110.5 - Low Nov 7 now resistance

*RES 3: Krw1107.5 - High Nov 16

*RES 2: Krw1101.4 - High Nov 20

*RES 1: Krw1099.7 - 100-DMA

*PRICE: Krw1091.5 @ 2300GMT

*SUP 1: Krw1087.6 - Low Feb 5

*SUP 2: Krw1082.8 - High Dec 21 now support

*SUP 3: Krw1078.2 - 55-DMA

*SUP 4: Krw1076.0 - High Dec 28 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

Krw1099.7-1101.4 region where the 100-DMA is located. Bulls need 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: Myr3.9406 - 21-DMA 

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

*PRICE: Myr3.9170 @ 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 hint at a

move to Myr4.0381-0626 where the 55-DMA is noted with above Myr4.0200 to

confirm. Bears remain focused on Myr3.8470 2016 lows while Myr3.9215 caps.

     DOLLAR-CNH TECHS: Cnh6.3591 Resistance Remains Key

*RES 4: Cnh6.3870 - Low Jan 19 now resistance 

*RES 3: Cnh6.3732 - 21-DMA 

*RES 2: Cnh6.3591 - High Jan 25 

*RES 1: Cnh6.3194 - High Feb 6

*PRICE: Cnh6.2847 @ 2300GMT

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

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

*SUP 3: Cnh6.2480 - High Nar 18 2015 now support

*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 look for a close above Cnh6.3591 to ease bearish

pressure. A close above Cnh6.4140 is needed to hint at a correction back to

Cnh6.4962-5017 where the 55-DMA (Cnh6.4962) is noted. Bears remain focused on

Cnh6.2293-2480 while Cnh6.3591 caps.

     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: Php51.875 - Weekly Bollinger band top 

*RES 2: Php51.850 - 2017 High Oct 27 

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

*PRICE: Php51.460 @ 2300GMT

*SUP 1: Php51.420 - Low Feb 5 

*SUP 2: Php51.250 - Low Jan 31 

*SUP 3: Php51.200 - High Jan 29 now support 

*SUP 4: Php50.950 - High Jan 26 now support

*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 Php50.573-950 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: Thb31.67 - 21-DMA

*PRICE: Thb31.51 @ 2300GMT

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

*SUP 2: Thb31.16 - Low Nov 6 2013, Bollinger band base 

*SUP 3: Thb30.90 - Daily Bear channel base 

*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 still 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. Tuesday's topside failure leaves the pair looking

heavy and immediate focus back on 2018 lows.

     DOLLAR-IDR TECHS: Above Idr13640 Initially Targets Idr13698

*RES 4: Idr13698 - Monthly High June 2 2016 

*RES 3: Idr13661 - Weekly Bollinger band top 

*RES 2: Idr13640 - 2017 High Oct 27 

*RES 1: Idr13605 - High Oct 30

*PRICE: Idr13550 @ 2300GMT

*SUP 1: Idr13525 - High Feb 5 now support 

*SUP 2: Idr13474 - 55-DMA 

*SUP 3: Idr13450 - High Feb 2 now support 

*SUP 4: Idr13374 - 21-DMA

*COMMENTARY: The recovery from 2018 lows (Idr13265) resulted in fresh 2018 &

4mth highs Tuesday although follow through has been lacking with daily studies

looking to correct from modestly O/B levels. Bears now need a close below

Idr13525 to ease immediate bearish pressure and below Idr13450 to confirm a

break of 55 & 100-DMAs and shift initial focus to Idr13370-380 where the 21-DMA

is noted. Bulls need a close above Idr13640 to initially target Idr13698.

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

[TOPICS: MTABLE]