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MNI China Daily Summary: Wednesday, Jan 24

MNI BRIEF: CSRC Pledges Better Protection, Return For Investor

MNI BRIEF: Firm Wage- and Price-Setting Behaviour Spreads - BOJ

MNI: UK JAN CBI INDUSTRIAL TRENDS TOTAL ORDERS -30

PMI shows stronger than expected output, but higher cost pressures

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

MNI BRIEF: Canada Needs CAD1 Trln To Fix Housing Squeeze- CMHC

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

MNI Dollar-Asia Morning FX Technical Analysis 

16 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 Need Close Below Sgd1.3574
*RES 4: Sgd1.3787 - High July 13 2017 
*RES 3: Sgd1.3745 - 2018 High July 3 
*RES 2: Sgd1.3706 - Bollinger band top 
*RES 1: Sgd1.3689 - High July 13
*PRICE: Sgd1.3650 @ 2300GMT
*SUP 1: Sgd1.3612 - Low July 13 
*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 (Sgd1.3617) has been lacking with
the bounce from $1.3563 seeing bulls gain breathing room and focus return to
Sgd1.3689-1.3745 where 2018 highs are noted. Initial support is noted at
Sgd1.3612 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 Sgd1.3474 today.
     DOLLAR-WON TECHS: Flirting With 200-WMA
*RES 4: Krw1157.8 - Monthly High July 7 2017
*RES 3: Krw1150.7 - Monthly High Sept 28
*RES 2: Krw1145.1 - High Oct 9
*RES 1: Krw1134.0 - 2018 High July 13
*PRICE: Krw1128.9 @ 2300GMT
*SUP 1: Krw1121.4 - High July 6 now support
*SUP 2: Krw1116.5 - 21-DMA
*SUP 3: Krw1108.6 - Low July 10
*SUP 4: Krw1103.5 - Low June 20
*COMMENTARY: The pair is again flirting with the 200-WMA (Krw1128.0) with bulls
now focused on Krw1145.1-1157.8 where monthly highs are located. Daily studies
are well placed for a fresh leg higher with the Bollinger top (Krw1129.9) the
key concern for bulls and currently limits follow through. 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: Immediate Bullish Focus On Myr4.0620-0920
*RES 4: Myr4.0920 - High Nov 30 
*RES 3: Myr4.0726 - 55-WMA 
*RES 2: Myr4.0620 - Alternating daily support/resistance 
*RES 1: Myr4.0610 - Bollinger band top
*PRICE: Myr4.0370 @ 2300GMT
*SUP 1: Myr4.0330 - Low July 13 
*SUP 2: Myr4.0246 - 21-DMA 
*SUP 3: Myr4.0054 - 200-DMA 
*SUP 4: Myr3.9874 - 55-DMA
*COMMENTARY: The recovery from the dip back to the 200-DMA has resulted in fresh
2018 & 7mth highs, reconfirming bullish focus on Myr4.0620-0920 where the 55-WMA
is situated. Daily studies are well placed for a fresh leg higher. Bears now
look for a close below the 21-DMA to gain breathing room and below the 200-DMA
to hint at a test of Myr3.9400-9620 where the 100-DMA is noted with below the
55-DMA to confirm.
     DOLLAR-CNH TECHS: Bulls Need Close Above 2018 High
*RES 4: Cnh6.7895 - Low July 5 2017 
*RES 3: Cnh6.7762 - Bollinger band top 
*RES 2: Cnh6.7718 - High July 20 2017 
*RES 1: Cnh6.7326 - 2018 High July 3
*PRICE: Cnh6.7075 @ 2300GMT
*SUP 1: Cnh6.6964 - Hourly resistance July 13 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 in past weeks with an
aggressive bounce from ahead of this level that sees immediate focus back on
2018 highs. Bulls look for a close above Cnh6.7895 to shift focus to Cnh6.8596
monthly highs. Bears continue to look for a close below Cnh6.6663 to ease
bullish pressure and below Cnh6.6300 to shift focus back to Cnh6.5948. Daily
studies are well placed for a fresh leg higher.
     DOLLAR-PHP TECHS: Focus Returns To 2018 High
*RES 4: Php54.795 - 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: Php53.510 @ 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 (Php53.394) that reconfirms immediate focus on
Php54.325-795 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: Thb33.38 - 2018 High July 13
*PRICE: Thb33.33 @ 2300GMT
*SUP 1: Thb33.13 - Low July 11 
*SUP 2: Thb33.06 - 21-DMA 
*SUP 3: Thb32.93 - Low June 27 
*SUP 4: Thb32.79 - Low June 21
*COMMENTARY: Fresh 2018 highs add support to the case for a test of thb33.56-70
where the 100-DMA is 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 the 21-DMA 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: Idr14375 @ 2300GMT
*SUP 1: Idr14250 - Low July 2 
*SUP 2: Idr14225 - 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 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]
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