MNI Dollar-Asia Morning FX Technical Analysis

12 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: Focus Returns To 2018 High

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

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

*RES 2: Sgd1.3720 - Bollinger band top 

*RES 1: Sgd1.3678 - High July 5

*PRICE: Sgd1.3642 @ 2300GMT

*SUP 1: Sgd1.3615 - Hourly resistance July 11 now support 

*SUP 2: Sgd1.3574 - Hourly support July 11 

*SUP 3: Sgd1.3563 - Low July 11 

*SUP 4: Sgd1.3523 - Low July 9

*COMMENTARY: Follow through below the 21-DMA (Sgd1.3600) has been lacking with

the bounce from $1.3563 seeing bulls gain breathing room and focus return to

Sgd1.3678-1.3745 where 2018 highs are noted. Initial support is noted at

Sgd1.3615 but bears look for a close below $1.3574 to confirm an easing of

bullish pressure and below Sgd1.3523 to pressure the 55-DMA and bull channel

base coming in around Sgd1.3459 today.

     DOLLAR-WON TECHS: Flirting With 200-WMA

*RES 4: Krw1150.7 - Monthly High Sept 28

*RES 3: Krw1145.1 - High Oct 9

*RES 2: Krw1131.7 - High Oct 27

*RES 1: Krw1129.3 - 2018 High July 10

*PRICE: Krw1127.1 @ 2300GMT

*SUP 1: Krw1125.2 - High June 27 now support

*SUP 2: Krw1121.4 - High July 6 now support

*SUP 3: Krw1113.5 - 21-DMA

*SUP 4: Krw1108.6 - Low July 10

*COMMENTARY: The pair is again flirting with the 200-WMA (Krw1127.5) with bulls

needing a close above Krw1131.7 to confirm a break and focus on Krw1145.1-1157.8

where monthly highs are located. Daily studies are well placed for a fresh leg

higher with the Bollinger top (Krw1130.4) the key concern for bulls. Bears now

need a close below Krw1121.4 to ease bullish pressure and below Krw1108.6 to

shift initial focus back to Krw1098.4.

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

*RES 4: Myr4.0920 - High Nov 30 

*RES 3: Myr4.0724 - 55-WMA 

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

*RES 1: Myr4.0480 - 2018 High July 3

*PRICE: Myr4.0370 @ 2300GMT

*SUP 1: Myr4.0073 - 200-DMA 

*SUP 2: Myr3.9950 - Low June 25 

*SUP 3: Myr3.9827 - 55-DMA 

*SUP 4: Myr3.9620 - Low May 22

*COMMENTARY: The dip back to the 200-DMA lacked follow trough with the close

back above Myr4.0330 buying bulls breathing room. 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. Bears continue to look for a close below the 200-DMA to add

weight to the case for a test of Myr3.9620-9827 where the 55-DMA is noted.

     DOLLAR-CNH TECHS: Bulls Need Close Above 2018 High

*RES 4: Cnh6.7895 - Low July 5 2017 

*RES 3: Cnh6.7730 - Bollinger band top 

*RES 2: Cnh6.7718 - High July 20 2017 

*RES 1: Cnh6.7326 - 2018 High July 3

*PRICE: Cnh6.7191 @ 2300GMT

*SUP 1: Cnh6.7047 - Hourly resistance July 11 now support

*SUP 2: Cnh6.6663 - Hourly support July 11

*SUP 3: Cnh6.6300 - Hourly support July 10

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

*COMMENTARY: The Cnh6.5948 support confirmed significance last week with an

aggressive bounce from ahead of this level that now sees immediate focus back on

2018 highs. Bulls look for a close above Cnh6.7895 to shift focus to Cnh6.8596

monthly highs. Bears now look for a close below Cnh6.6663 to ease bullish

pressure and below Cnh6.6300 to shift focus back to Cnh6.5948.

     DOLLAR-PHP TECHS: Focus Returns To 2018 High

*RES 4: Php54.751 - 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: Php53.611 @ 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 (Php53.379) that reconfirms immediate focus on

Php54.325-751 where Dec 2005 highs and the bull channel top are situated. Bulls

now need a close above Php54.325 to add support to their case.

     DOLLAR-THB TECHS: Fresh 2018 Highs Add To Bullish Confidence

*RES 4: Thb33.70 - High July 20 2017 

*RES 3: Thb33.57 - 100-WMA 

*RES 2: Thb33.54 - Monthly High Oct 3 

*RES 1: Thb33.35 - High Oct 27

*PRICE: Thb33.33 @ 2300GMT

*SUP 1: Thb33.21 - High July 10 now support 

*SUP 2: Thb32.98 - 21-DMA 

*SUP 3: Thb32.93 - Low June 27 

*SUP 4: Thb32.79 - Low June 21

*COMMENTARY: Fresh 2018 highs retained immediate focus on Thb33.35-57 where

monthly highs and the 100-WMA are situated. Daily studies have worked off some

of their previously O/B condition and are now better placed for a fresh leg

higher. Bears now need a close below Thb33.21 to ease bullish pressure and below

Thb32.93 to shift focus back to Thb32.34-58 where the 55-DMA is located.

     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: Idr14380 @ 2300GMT

*SUP 1: Idr14250 - Low July 2 

*SUP 2: Idr14182 - 21-DMA 

*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 the 21-DMA 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]