MNI Dollar-Asia Morning FX Technical Analysis

3 July 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 Sgd1.3720

*RES 4: Sgd1.3787 - High July 13 2017 

*RES 3: Sgd1.3780 - Bollinger band top 

*RES 2: Sgd1.3720 - High July 17 2017 

*RES 1: Sgd1.3715 - 2018 High July 2

*PRICE: Sgd1.3691 @ 2300GMT

*SUP 1: Sgd1.3615 - Low July 2 

*SUP 2: Sgd1.3587 - Low June 26 

*SUP 3: Sgd1.3531 - Low June 22 

*SUP 4: Sgd1.3514 - 21-DMA

*COMMENTARY: Despite ending last week on an offered note bulls take comfort in

fresh 2018 highs Monday as the pair continues to flirt with the 100-WMA

(Sgd1.3684). Bulls look for a close above Sgd1.3720 to confirm traction above

the 100-WMA and shift focus to Sgd1.3914 June 2017 highs. Bears now look for a

close below Sgd1.3615 to ease bullish pressure and target an initial correction

back to Sgd1.3486-1.3531 where the 21-DMA is noted.

     DOLLAR-WON TECHS: Krw1109.4 & 200-WMA Key Levels Today

*RES 4: Krw1131.7 - High Oct 27

*RES 3: Krw1127.1 - 200-WMA

*RES 2: Krw1125.2 - 2018 High June 27

*RES 1: Krw1121.5 - High July 2

*PRICE: Krw1119.0 @ 2300GMT

*SUP 1: Krw1109.4 - Low June 25

*SUP 2: Krw1103.5 - Low June 20

*SUP 3: Krw1099.2 - 21-DMA

*SUP 4: Krw1098.6 - 55-WMA

*COMMENTARY: Bulls take comfort in the bounce from Krw1109.4 to start the new

week but the 200-WMA remains key resistance this week. Bulls look for a close

above the 200-WMA to reconfirm the bullish bias and target Krw1150.7 Sept 2017

monthly highs. Bears now need a close below Krw1109.4 to shift focus back to

Krw1098.6-1099.2 where the 55-WMA and 21-DMA are situated. Daily studies

correcting from O/B weigh and are the key concern for bulls.

     DOLLAR-MYR TECHS: Myr3.9950-4.0139 Support Region Key

*RES 4: Myr4.0920 - High Nov 30 

*RES 3: Myr4.0769 - 55-WMA 

*RES 2: Myr4.0620 - Alternating daily support/resistance 

*RES 1: Myr4.0450 - 2018 High Jan 2

*PRICE: Myr4.0380 @ 2300GMT

*SUP 1: Myr4.0139 - 200-DMA 

*SUP 2: Myr4.0002 - 21-DMA 

*SUP 3: Myr3.9950 - Low June 25 

*SUP 4: Myr3.9620 - Low May 22

*COMMENTARY: The closes above the 200-DMA & 200-WMA (Myr4.0260) add support to

the bullish case with focus now on the Myr4.0450-0920 region where the 55-WMA is

located. O/B daily studies remain the key concern for bulls. In saying that,

bears now look for a close below Myr3.9950 to confirm a break of the 21-DMA,

easing bullish pressure, and below Myr3.9250 to shift focus back to 2018 lows.

     DOLLAR-CNH TECHS: Above Cnh6.7068 To Confirm Key Resistance Breaks

*RES 4: Cnh6.7718 - High July 20 2017 

*RES 3: Cnh6.7370 - High Aug 3 2017 

*RES 2: Cnh6.7068 - High Aug 16 2017 

*RES 1: Cnh6.6953 - 2018 High July 2

*PRICE: Cnh6.6841 @ 2300GMT

*SUP 1: Cnh6.6651 - High Oct 27 now support

*SUP 2: Cnh6.6541 - 100-WMA

*SUP 3: Cnh6.6092 - Low June 28

*SUP 4: Cnh6.5948 - High June 26 now support

*COMMENTARY: Bulls take comfort as the pair gains traction above the 100-WMA and

weekly bear channel top (Cnh6.6750) off 2017 highs with a close above Cnh6.7068

now needed to confirm focus on Cnh6.8596 June 2017 monthly highs. Very O/B

studies remain the key concern for bulls. In saying that, bears now need a close

below the 100-WMA to ease bullish pressure and below Cnh6.5948 to hint at a move

back to Cnh6.4922-48 where the 21-DMA is noted.

     DOLLAR-PHP TECHS: Bears Need Close Below Php53.147

*RES 4: Php54.597 - Daily Bull channel top 

*RES 3: Php54.325 - High Dec 2 2005 

*RES 2: Php53.990 - 2006 High June 16 

*RES 1: Php53.736 - 2018 High June 26

*PRICE: Php53.529 @ 2300GMT

*SUP 1: Php53.187 - 21-DMA 

*SUP 2: Php53.147 - High June 12 now support 

*SUP 3: Php52.945 - Low June 12 

*SUP 4: Php52.773 - High May 30 now support

*COMMENTARY: Follow through has been lacking on recent 2018 & 12+yr highs which

is less than ideal for bulls with daily studies lingering at O/B levels and the

Bollinger top (Php53.909) just above. Bears now look for a close below Php53.147

to hint at a move back to Php52.267-571 with below Php52.773 to add weight to

the case. While the 21-DMA supports bulls maintain focus on tests of the daily

bull channel top around Php54.597 today.

     DOLLAR-THB TECHS: Below Thb32.93 To Ease Bullish Pressure

*RES 4: Thb33.59 - 100-WMA 

*RES 3: Thb33.54 - Monthly High Oct 3 

*RES 2: Thb33.35 - High Oct 27 

*RES 1: Thb33.23 - 2018 High June 29

*PRICE: Thb33.18 @ 2300GMT

*SUP 1: Thb32.93 - Low June 27 

*SUP 2: Thb32.79 - Low June 21 

*SUP 3: Thb32.58 - High Jan 2 now support 

*SUP 4: Thb32.49 - 55-WMA

*COMMENTARY: Recent 2018 highs added support to the case for a test of the

Thb33.35-59 region where monthly highs and the 100-WMA are situated. Very O/B

daily studies remain the key concern for bulls. Support layers building add to

bullish confidence with bears needing a close below Thb32.93 to gain breathing

room and below Thb32.79 to shift initial focus back to the Thb32.58-59 where the

12-DMA is found.

     DOLLAR-IDR TECHS: Pressure Returns To 2018 High

*RES 4: Idr14730 - 2015 High Sept 29 

*RES 3: Idr14620 - Low Oct 1 2015 now resistance 

*RES 2: Idr14480 - Low Oct 5 2015 now resistance 

*RES 1: Idr14410 - 2018 High June 29

*PRICE: Idr14375 @ 2300GMT

*SUP 1: Idr14250 - Low July 2 

*SUP 2: Idr14190 - Low June 28 

*SUP 3: Idr14110 - Alternating daily support/resistance 

*SUP 4: Idr14053 - Low June 22

*COMMENTARY: Fresh 2018 & nearly 3 yr highs lacked follow through Friday which

is less than ideal given daily studies looking to correct from very O/B levels

and daily momentum divergence. Bears now need a close below Idr14250 to ease

bullish pressure and below Idr14190 to shift focus back to Idr13970-14053 where

21 & 55-DMAs are located. Bulls currently focus on Idr14480-620 while Idr14190

supports.

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

[TOPICS: MTABLE]