MNI Dollar-Asia Morning FX Technical Analysis

17 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: Sgd1.3745 - 2018 High July 3 

*RES 3: Sgd1.3695 - Bollinger band top 

*RES 2: Sgd1.3689 - High July 13 

*RES 1: Sgd1.3662 - High July 16

*PRICE: Sgd1.3617 @ 2300GMT

*SUP 1: Sgd1.3613 - Low July 16 

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

*SUP 3: Sgd1.3563 - Low July 11 

*SUP 4: Sgd1.3523 - Low July 9

*COMMENTARY: Topside follow through is again lacking and sees the pair dipping

back towards the Sgd1.3574 support. Bears continue to 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 Sgd1.3479 today. Bulls now

need a close above Sgd1.3689 to return pressure to Sgd1.3745 2018 highs.

     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: Krw1127.7 @ 2300GMT

*SUP 1: Krw1121.4 - High July 6 now support

*SUP 2: Krw1117.6 - 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 (Krw1130.1) 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: Myr4.0680 - 55-WMA 

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

*RES 1: Myr4.0592 - Bollinger band top

*PRICE: Myr4.0400 @ 2300GMT

*SUP 1: Myr4.0330 - Low July 13 

*SUP 2: Myr4.0273 - 21-DMA 

*SUP 3: Myr4.0045 - 200-DMA 

*SUP 4: Myr3.9896 - 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: Cnh6.7753 - 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: Cnh6.6663 - Hourly support July 11

*SUP 2: Cnh6.6300 - Hourly support July 10

*SUP 3: Cnh6.6226 - 21-DMA

*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 the 21-DMA now to shift focus back to Cnh6.5948.

Daily studies are well placed for a fresh leg higher.

     DOLLAR-PHP TECHS: Php53.147 Support Remains Key

*RES 4: Php54.817 - 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: Php53.467 @ 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 (Php53.406) that reconfirms immediate focus on

Php54.325-817 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: Recent Fresh 2018 Highs Add To Bullish Confidence

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

*RES 3: Thb33.56 - 100-WMA 

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

*RES 1: Thb33.38 - 2018 High July 13

*PRICE: Thb33.26 @ 2300GMT

*SUP 1: Thb33.13 - Low July 11 

*SUP 2: Thb33.09 - 21-DMA 

*SUP 3: Thb32.93 - Low June 27 

*SUP 4: Thb32.79 - Low June 21

*COMMENTARY: Recent fresh 2018 highs added support to the case for a test of

thb33.56-70 where the 100-WMA 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: Idr14370 @ 2300GMT

*SUP 1: Idr14250 - Low July 2 

*SUP 2: Idr14246 - 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 the 21-DMA to

ease bullish pressure and below Idr14190 to shift focus back to Idr13970-14110

where the 55-DMA (Idr14087) is located. Bulls currently focus on Idr14480-620

while the 21-DMA supports.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]