MNI Dollar-Asia Morning FX Technical Analysis

8 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 Focused On Sgd1.3273-1.3334

*RES 4: Sgd1.3334 - 55-DMA 

*RES 3: Sgd1.3304 - Daily bear channel top (Off Oct highs) 

*RES 2: Sgd1.3302 - High Jan 12 

*RES 1: Sgd1.3273 - High Jan 18

*PRICE: Sgd1.3245 @ 2300GMT

*SUP 1: Sgd1.3227 - Hourly support Feb 7 

*SUP 2: Sgd1.3181 - 21-DMA 

*SUP 3: Sgd1.3149 - High Jan 30 now support 

*SUP 4: Sgd1.3106 - Hourly support Feb 2

*COMMENTARY: Bulls take comfort in the bounces from around the 21-DMA with

bullish focus now on Sgd1.3273-1.3334 where the bear channel top and 55-DMA are

located. Daily studies approaching O/B are the key concern for bulls. Layers of

support are building. Bears continue to look for a close below Sgd1.3149 to

confirm a break of the 21-DMA., easing bullish pressure and shifting focus back

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

     DOLLAR-WON TECHS: 21 & 55-DMAs Key Support

*RES 4: Krw1107.5 - High Nov 16

*RES 3: Krw1101.4 - High Nov 20

*RES 2: Krw1099.3 - 100-DMA

*RES 1: Krw1087.6 - Low Feb 5 now resistance

*PRICE: Krw1086.6 @ 2300GMT

*SUP 1: Krw1077.8 - 55-DMA

*SUP 2: Krw1076.0 - High Dec 28 now support

*SUP 3: Krw1073.9 - High Jan 30 now support

*SUP 4: Krw1071.3 - 21-DMA

*COMMENTARY: The failure ahead of the 100-DMA has resulted in pressure returning

to the Krw1071.3-1077.8 support region where 55 & 21-DMAs are situated. Bears

need a close below the 55-DMA to hint at a correction back to 2018 lows with

below the 21-DMA to confirm. Bulls now need a close above Krw1101.4 to confirm a

break of the 100-DMA and shift focus to Krw1107.5-1116.6 where the 200-DMA is

located.

     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: Myr3.9363 - 21-DMA 

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

*PRICE: Myr3.9070 @ 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: 2018 & 2+Yr Lows Lack Follow Through

*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: Cnh6.3161 @ 2300GMT

*SUP 1: Cnh6.2548 - 2018 Low Feb 7

*SUP 2: Cnh6.2480 - High Nar 18 2015 now support

*SUP 3: Cnh6.2378 - Bollinger band base

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

*COMMENTARY: 2018 & 2+ year lows were seen again Wednesday but the lack of

follow through is less than ideal when combined with O/S daily studies looking

to correct and momentum divergence. Bulls now need a close above Cnh6.3194 to

gain breathing room and above Cnh6.3870 to shift focus back to Cnh6.4475-5017

where the 55-DMA (Cnh6.4968) is located. Bears currently focus on

Cnh6.2293-2480.

     DOLLAR-PHP TECHS: Bulls Now Need Close Above Php51.420

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

*RES 3: Php51.760 - 2018 High Feb 2 

*RES 2: Php51.420 - Low Feb 5 now resistance 

*RES 1: Php51.350 - High Feb 7

*PRICE: Php51.120 @ 2300GMT

*SUP 1: Php50.950 - High Jan 26 now support 

*SUP 2: Php50.942 - 21-DMA 

*SUP 3: Php50.872 - 100-DMA 

*SUP 4: Php50.720 - Low Jan 25

*COMMENTARY: Continued hesitation ahead of 2017 highs has taken its toll with a

correction lower that now sees immediate focus on 21 & 100-DMAs. Bears now need

a close below the 100-DMA to confirm focus on Php50.580-720 where 55 & 200-DMAs

are situated. Bulls now need a close above Php51.420 to regain the upper hand

and return initial focus to 2017 highs. Correcting O/S daily studies are seen

weighing.

     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: Thb31.68 - 21-DMA

*PRICE: Thb31.65 @ 2300GMT

*SUP 1: Thb31.39 - Low Feb 7 

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

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

*SUP 4: Thb30.86 - Daily Bear channel base

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

Bollinger band base which is a concern as are correcting O/S studies. 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. Bears now need a close below Thb31.39 to ease pressure on resistance

layers and maintain focus on Thb30.80.

     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: Idr13552 @ 2300GMT

*SUP 1: Idr13510 - Low Feb 7 

*SUP 2: Idr13475 - 55-DMA 

*SUP 3: Idr13450 - High Feb 2 now support 

*SUP 4: Idr13386 - 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

Idr13510 to ease immediate bearish pressure and below Idr13450 to confirm a

break of 55 & 100-DMAs and shift initial focus to Idr13370-386 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]