MNI Dollar-Asia Morning FX Technical Analysis

19 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: Below Sgd1.3635 To Gain Breathing Room

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

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

*RES 2: Sgd1.3699 - High July 18, Bollinger band top 

*RES 1: Sgd1.3664 - Hourly support July 18 now resistance

*PRICE: Sgd1.3650 @ 2300GMT

*SUP 1: Sgd1.3635 - Low July 18 

*SUP 2: Sgd1.3580 - Low July 17 

*SUP 3: Sgd1.3574 - Hourly support July 11 

*SUP 4: Sgd1.3563 - Low July 11

*COMMENTARY: Topside follow through remains lacking with the Bollinger band top

the key concern and currently limiting follow through. Bears now need a close

below Sgd1.3635 to gain breathing room. Below the Sgd1.3486 support is needed to

confirm breaks of the 55-DMA (Sgd1.3491) and the bull channel base (Sgd1.3491)

and shift focus back to Sgd1.3285-1.3394 where 100 & 200-DMAs are noted. Bulls

now need a close above Sgd1.3699 to return initial pressure to Sgd1.3745 2018

highs.

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

*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: Krw1132.0 @ 2300GMT

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

*SUP 2: Krw1119.6 - 21-DMA

*SUP 3: Krw1108.6 - Low July 10

*SUP 4: Krw1103.5 - Low June 20

*COMMENTARY: The pair continues to flirt with the 200-WMA (Krw1128.0) with bulls

remaining 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

(Krw1133.0) the key concern for bulls and currently limits follow through. Bears

now need a close below the 21-DMA to ease bullish pressure and below Krw1108.6

to shift initial focus back to Krw1098.4.

     DOLLAR-MYR TECHS: Bears Need Close Below 21-DMA

*RES 4: Myr4.0920 - High Nov 30 

*RES 3: Myr4.0684 - 55-WMA 

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

*RES 1: Myr4.0611 - Bollinger band top

*PRICE: Myr4.0400 @ 2300GMT

*SUP 1: Myr4.0330 - Low July 13 

*SUP 2: Myr4.0322 - 21-DMA 

*SUP 3: Myr4.0028 - 200-DMA 

*SUP 4: Myr3.9941 - 55-DMA

*COMMENTARY: The recovery from the dip back to the 200-DMA continues to result

in recent 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. Bulls now look for a close above Myr4.0620 to add support to their case.

Bears continue to look for a close below the 21-DMA to gain breathing room and

below the 55-DMA to hint at a test of Myr3.9400-9620 where the 100-DMA is noted.

     DOLLAR-CNH TECHS: Above Cnh6.7895 To Target Cnh6.8596

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

*RES 3: Cnh6.7861 - Bollinger band top 

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

*RES 1: Cnh6.7576 - 2018 High July 18

*PRICE: Cnh6.7442 @ 2300GMT

*SUP 1: Cnh6.7326 - High July 3 now support

*SUP 2: Cnh6.6823 - Low July 16

*SUP 3: Cnh6.6663 - Hourly support July 11

*SUP 4: Cnh6.6488 - 21-DMA

*COMMENTARY: The Cnh6.5948 support confirmed significance in past weeks with an

aggressive bounce from ahead of this level that has now resulted in fresh 2018 &

12mth highs. Bulls now look for a close above Cnh6.7895 to confirm focus on the

Cnh6.8596 June 2017 monthly high. Bears now look for a close below Cnh6.7326 to

gain breathing room and below Cnh6.6823 to shift initial focus back to the

21-DMA. Daily studies approaching O/B are the key concern for bulls.

     DOLLAR-PHP TECHS: Php53.147 Support Remains Key

*RES 4: Php54.861 - 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: Php53.451 @ 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 that reconfirms immediate focus on Php54.325-8617 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: Bears Now Need Close Below Thb33.13

*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: Thb33.30 @ 2300GMT

*SUP 1: Thb33.14 - 21-DMA 

*SUP 2: Thb33.13 - Low July 11 

*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.

The Bollinger band top (Thb33.40) is the key concern for bulls with potential to

limit follow through. Bears now need a close below Thb33.13 to ease bullish

pressure and below Thb32.93 to shift focus back to Thb32.49-58 where the 55-DMA

is located.

     DOLLAR-IDR TECHS: Bears Need Close Below Idr14250

*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: Idr14400 @ 2300GMT

*SUP 1: Idr14290 - 21-DMA 

*SUP 2: Idr14250 - Low July 2 

*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

confirm a break of the 21-DMA and ease bullish pressure, with below Idr14190 to

shift focus back to Idr14104-14110 where the 55-DMA (Idr14104) 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]