MNI Dollar-Asia Morning FX Technical Analysis

11 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: Sgd1.3745 - 2018 High July 3 

*RES 3: Sgd1.3678 - High July 5 

*RES 2: Sgd1.3603 - Low July 4 now resistance 

*RES 1: Sgd1.3583 - High July 9, 21-DMA

*PRICE: Sgd1.3570 @ 2300GMT

*SUP 1: Sgd1.3523 - Low July 9 

*SUP 2: Sgd1.3486 - Hourly resistance June 15 now support 

*SUP 3: Sgd1.3452 - 55-DMA, Daily bull channel base 

*SUP 4: Sgd1.3425 - Low June 15

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

resulting in a close below 21-DMA Tuesday. The Sgd1.3486 support is key this

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

Sgd1.3362-1.3452 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: Bears Need Close Below Krw1108.6

*RES 4: Krw1131.7 - High Oct 27

*RES 3: Krw1127.4 - 200-WMA

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

*RES 1: Krw1121.4 - High July 6

*PRICE: Krw1113.1 @ 2300GMT

*SUP 1: Krw1108.6 - Low July 10

*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 now need a close below Krw1108.6 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 (Krw1085.8).

     DOLLAR-MYR TECHS: Below 200-DMA To Target 55-DMA

*RES 4: Myr4.0722 - 55-WMA 

*RES 3: Myr4.0620 - Alternating daily support/resistance 

*RES 2: Myr4.0480 - 2018 High July 3 

*RES 1: Myr4.0330 - Low July 6 now resistance

*PRICE: Myr4.0200 @ 2300GMT

*SUP 1: Myr4.0082 - 200-DMA 

*SUP 2: Myr3.9950 - Low June 25 

*SUP 3: Myr3.9804 - 55-DMA 

*SUP 4: Myr3.9620 - Low May 22

*COMMENTARY: Correcting O/B studies are weighing with the close below Myr4.0330

easing bullish pressure. Bears continue to look for a close below the 200-DMA to

add weight to the case for a test of Myr3.9620-9804 where the 55-DMA is noted.

Bulls now need a close above Myr4.0480 to reconfirm the bullish bias and focus

on Myr4.0620-0920 where the 55-WMA is situated.

     DOLLAR-CNH TECHS: Below Cnh6.5948 To Target Cnh6.5172-5567

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

*RES 3: Cnh6.7529 - Bollinger band top 

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

*RES 1: Cnh6.6864 - High July 6

*PRICE: Cnh6.6585 @ 2300GMT

*SUP 1: Cnh6.6300 - Hourly support July 10

*SUP 2: Cnh6.5948 - High June 26 now support

*SUP 3: Cnh6.5662 - 21-DMA

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

*COMMENTARY: The lack of topside follow through Friday after the sharp rejection

from 2018 highs combined with correcting O/B studies weighing resulted in a dip

back towards Cnh6.5948. The Cnh6.5948 support remains key. Bears look for a

close below this level to hint at a move back to Cnh6.5172-5662 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: Php53.581 - High July 10

*PRICE: Php53.431 @ 2300GMT

*SUP 1: Php53.250 - Low July 7 

*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. Bears continue to look for a close below Php53.147

to hint at a move back to Php52.267-771. Bulls take comfort in the recovery from

dips below the 21-DMA (Php53.371) but now need a close above Php53.581 to gain

breathing room and reconfirm focus on Php54.325-729 where Dec 2005 highs and the

bull channel top are situated.

     DOLLAR-THB TECHS: Below 21-DMA To Ease Bullish Pressure

*RES 4: Thb33.54 - Monthly High Oct 3 

*RES 3: Thb33.35 - High Oct 27 

*RES 2: Thb33.30 - 2018 High July 3 

*RES 1: Thb33.18 - High July 9

*PRICE: Thb33.16 @ 2300GMT

*SUP 1: Thb32.93 - Low June 27 

*SUP 2: Thb32.92 - 21-DMA 

*SUP 3: Thb32.79 - Low June 21 

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

*COMMENTARY: Recent 2018 highs retained immediate focus on Thb33.35-57 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. The 21-DMA is now key support with bears needing a close below to

gain breathing room and below Thb32.58 to shift initial focus back to the

Thb32.15-39 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: Idr14355 @ 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 which

is less than ideal given daily studies correcting from very O/B levels and

previous 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 the 55-DMA is 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]