MNI Dollar-Asia Morning FX Technical Analysis

9 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: Sgd1.3486 Support Key This Week

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

*RES 3: Sgd1.3745 - 2018 High July 3 

*RES 2: Sgd1.3678 - High July 5 

*RES 1: Sgd1.3603 - Low July 4 now resistance

*PRICE: Sgd1.3573 @ 2300GMT

*SUP 1: Sgd1.3563 - 21-DMA 

*SUP 2: Sgd1.3531 - Low June 22 

*SUP 3: Sgd1.3486 - Hourly resistance June 15 now support 

*SUP 4: Sgd1.3440 - 55-DMA, Daily bull channel base

*COMMENTARY: Topside follow through was lacking on last week's 2018 highs

resulting in pressure returning to the 21-DMA. The Sgd1.3486 support is key this

week. Bears look for a close below this level to shift focus back to the

Sgd1.3285-1.3440 region where key DMAs are noted. Overall below Sgd1.3285 is

needed to return focus to 2018 lows. Bulls now need a close above Sgd1.3603 to

gain breathing room and above Sgd1.3678 to return pressure to 2018 highs.

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

*RES 4: Krw1131.7 - High Oct 27

*RES 3: Krw1127.5 - 200-WMA

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

*RES 1: Krw1121.4 - High July 6

*PRICE: Krw1118.3 @ 2300GMT

*SUP 1: Krw1109.4 - Low June 25

*SUP 2: Krw1103.5 - Low June 20

*SUP 3: Krw1098.4 - Monthly High Feb 6 now support

*SUP 4: Krw1098.2 - 55-WMA

*COMMENTARY: Topside hesitation ahead of the 200-WMA appears to be taking its

toll with correcting O/B daily studies also 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 still need a close below Krw1109.4 to shift focus

back to Krw1098.4-1103.5 where the 55-WMA is situated and below the 55-WMA to

target the 200-DMA (Krw1086.1).

     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: Myr4.0380 @ 2300GMT

*SUP 1: Myr4.0330 - Low June 29 

*SUP 2: Myr4.0134 - 21-DMA 

*SUP 3: Myr4.0103 - 200-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 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 Cnh6.5172-5567

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

*RES 3: Cnh6.7484 - Bollinger band top 

*RES 2: Cnh6.7326 - 2018 High July 3 

*RES 1: Cnh6.6864 - High July 6

*PRICE: Cnh6.6585 @ 2300GMT

*SUP 1: Cnh6.6325 - Low July 5

*SUP 2: Cnh6.6092 - Low June 28

*SUP 3: Cnh6.5948 - High June 26 now support

*SUP 4: Cnh6.5567 - High June 25 now support

*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, correcting 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 Cnh6.5172-5567 where the 21-DMA is

noted. Bulls now need a close above Cnh6.6864 to reconfirm focus on 2018 highs

and a potential move to Cnh6.8596.

     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: Php53.325 @ 2300GMT

*SUP 1: Php53.265 - Low July 6 

*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 (Php53.596) just above. Bears look for a close below Php53.147 to

hint at a move back to Php52.267-652 with below Php52.773 to add weight to the

case. Bulls now need a close above Php53.531 to gain breathing room and

reconfirm focus on Php54.325-707 where Dec 2005 highs and the bull channel top

are situated.

     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: Thb33.05 - Low July 4 

*SUP 2: Thb32.93 - Low June 27 

*SUP 3: Thb32.79 - Low June 21 

*SUP 4: Thb32.58 - High Jan 2 now support

*COMMENTARY: Recent 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. Key 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

Thb32.15-25 where 55 & 200-DMAs are noted.

     DOLLAR-IDR TECHS: Topside Hesitation A Concern

*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: Idr14336 @ 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: Recent 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 Idr13970-14121

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]