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Free AccessMNI Dollar-Asia Morning FX Technical Analysis
5 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: Bears Now Need Close Below Sgd1.3587
*RES 4: Sgd1.3787 - High July 13 2017
*RES 3: Sgd1.3782 - Bollinger band top
*RES 2: Sgd1.3745 - 2018 High July 3
*RES 1: Sgd1.3667 - Hourly resistance July 3
*PRICE: Sgd1.3646 @ 2300GMT
*SUP 1: Sgd1.3603 - Low July 4
*SUP 2: Sgd1.3587 - Low June 26
*SUP 3: Sgd1.3542 - 21-DMA
*SUP 4: Sgd1.3531 - Low June 22
*COMMENTARY: Fresh 2018 highs have defined so far this week although the lack of
topside follow through Tuesday and resistance layers building leaves the pair
looking a little offered. Bears now look for a close below Sgd1.3587 to ease
bullish pressure and target an initial correction back to Sgd1.3486-1.3542 where
the 21-DMA is noted. Bulls now need a close above $1.3745 to confirm traction
above the 100-WMA (Sgd1.3683).
DOLLAR-WON TECHS: Krw1109.4 & 200-WMA Key Levels Remain Key
*RES 4: Krw1136.2 - Bollinger band top
*RES 3: Krw1131.7 - High Oct 27
*RES 2: Krw1127.1 - 200-WMA
*RES 1: Krw1125.2 - 2018 High June 27
*PRICE: Krw1119.0 @ 2300GMT
*SUP 1: Krw1109.4 - Low June 25
*SUP 2: Krw1103.5 - Low June 20, 21-DMA
*SUP 3: Krw1098.6 - 55-WMA
*SUP 4: Krw1098.4 - Monthly High Feb 6 now support
*COMMENTARY: Topside hesitation ahead of the 200-WMA appears to be taking its
toll with correcting O/B daily studies also seen weighing. Bulls continue to
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 Krw1098.4-1103.5 where the 55-WMA and 21-DMA are situated
with below Krw1098.4 to target the 200-DMA (Krw1086.4).
DOLLAR-MYR TECHS: Below Myr4.0330 To Gain Breathing Room
*RES 4: Myr4.0920 - High Nov 30
*RES 3: Myr4.0770 - 55-WMA
*RES 2: Myr4.0620 - Alternating daily support/resistance
*RES 1: Myr4.0480 - 2018 High July 3
*PRICE: Myr4.0440 @ 2300GMT
*SUP 1: Myr4.0330 - Low June 29
*SUP 2: Myr4.0122 - 200-DMA
*SUP 3: Myr4.0071 - 21-DMA
*SUP 4: Myr3.9950 - Low June 25
*COMMENTARY: The closes above the 200-DMA & 200-WMA (Myr4.0260) add support to
the bullish case with focus 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 Myr4.0330 to gain breathing room and below
Myr3.9950 to confirm a break of the 21-DMA, easing bullish pressure, with below
Myr3.9250 to shift focus back to 2018 lows.
DOLLAR-CNH TECHS: Below Cnh6.5948 To Target Cnh6.4922-5181
*RES 4: Cnh6.7326 - 2018 High July 3
*RES 3: Cnh6.6798 - Hourly support July 2 & 3 now resistance
*RES 2: Cnh6.6724 - High July 4
*RES 1: Cnh6.6491 - Hourly resistance July 4
*PRICE: Cnh6.6411 @ 2300GMT
*SUP 1: Cnh6.6092 - Low June 28
*SUP 2: Cnh6.5948 - High June 26 now support
*SUP 3: Cnh6.5567 - High June 25 now support
*SUP 4: Cnh6.5366 - Low June 26
*COMMENTARY: The pair took its first backward step in around three weeks with
2018 & 8mth highs lacking follow though above key resistance Tuesday. Daily
momentum divergence, O/B daily and weekly studies remain a concern and currently
weigh. The Cnh6.5948 support remains key. Bears look for a close below this
level to hint at a move back to Cnh6.4922-5181 where the 21-DMA is noted. Bulls
now need a close above Cnh6.6798 to shift focus back to 2018 highs.
DOLLAR-PHP TECHS: Bears Need Close Below Php53.147
*RES 4: Php54.325 - High Dec 2 2005
*RES 3: Php53.990 - 2006 High June 16
*RES 2: Php53.736 - 2018 High June 26
*RES 1: Php53.531 - High July 2
*PRICE: Php53.479 @ 2300GMT
*SUP 1: Php53.276 - 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 (Php53.762) just above. Bears look for a close below Php53.147 to
hint at a move back to Php52.267-615 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 Php54.641 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: Thb33.30 - 2018 High July 3
*PRICE: Thb33.14 @ 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: Fresh 2018 highs retained immediate focus on Thb33.35-59 where
monthly highs and the 100-WMA are situated. In saying that, correcting very O/B
daily studies combined with hesitation ahead of Thb33.35 are now key concerns
for bulls. Initial support is noted at Thb32.93 with bears needing a close below
to gain breathing room and below Thb32.58 to shift initial focus back to the
Thb32.16-23 where 55 & 200-DMAs are noted.
DOLLAR-IDR TECHS: Idr14190-250 Support Region Key
*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: Idr14455 - 2018 High July 3
*PRICE: Idr14347 @ 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 again lacked follow through Tuesday
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 Idr13970-14110
where 21 & 55-DMAs are located. Bulls currently focus on Idr14480-620 while
Idr14250 supports.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.