MNI Dollar-Asia Morning FX Technical Analysis

23 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: Sgd1.3490 Support Key This Week

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

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

*RES 2: Sgd1.3700 - Hourly resistance July 20 

*RES 1: Sgd1.3647 - Hourly resistance July 20

*PRICE: Sgd1.3622 @ 2300GMT

*SUP 1: Sgd1.3580 - Low July 17 

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

*SUP 3: Sgd1.3563 - Low July 11 

*SUP 4: Sgd1.3523 - Low July 9

*COMMENTARY: The lack of topside follow through left a double daily top is place

around 2018 highs and resulted in a sharp sell-off and close below the 21-DMA

(Sgd1.3635) Friday. Focus now shifts to the Sgd1.3490-1.3523 region where the

bull channel base off Apr 19 lows and the 55-DMA (Sgd1.3502) are situated. Bulls

now need a close above Sgd1.3647 to gain breathing room and above Sgd1.3745 to

reconfirm the bullish bias and target Sgd1.4077 Apr 2017 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: Krw1140.4 - 2018 High July 20

*PRICE: Krw1127.0 @ 2300GMT

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

*SUP 2: Krw1121.3 - 21-DMA

*SUP 3: Krw1108.6 - Low July 10

*SUP 4: Krw1103.5 - Low June 20

*COMMENTARY: Failure to gain traction above the 200-WMA (Krw1128.4) is a concern

for bulls with Friday's sell-off leaving the pair looking a little offered.

Bears continue to look for a close below the 21-DMA to ease bullish pressure and

shift focus back to Krw1096.7-1108.6 where the 55-DMA (Krw1096.7) is situated.

The Bollinger top (Krw1134.3) is the key concern for bulls and limits follow

through. While the 21-DMA supports bulls remain focused on Krw1145.1-1157.8

where monthly highs are located.

     DOLLAR-MYR TECHS: Bears Need Close Below Myr4.0330

*RES 4: Myr4.0920 - High Nov 30 

*RES 3: Myr4.0684 - 55-WMA 

*RES 2: Myr4.0650 - 2018 High July 20 

*RES 1: Myr4.0661 - Bollinger band top

*PRICE: Myr4.0600 @ 2300GMT

*SUP 1: Myr4.0530 - Low July 19 

*SUP 2: Myr4.0372 - 21-DMA 

*SUP 3: Myr4.0330 - Low July 13 

*SUP 4: Myr4.0012 - 200-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 Myr4.0684-0920

where the 55-WMA is situated. Daily studies are well placed for a fresh leg

higher. Bulls now look for a close above Myr4.0650 to add support to their case.

Bears now look for a close below Myr4.0330 to gain breathing room and below the

Myr3.9950 to hint at a test of Myr3.9400-9620 where the 100-DMA is noted.

     DOLLAR-CNH TECHS: Cnh6.7326-7576 Support Remains Key

*RES 4: Cnh6.8697 - Low May 18 2017 now resistance 

*RES 3: Cnh6.8596 - Monthly High June 26 2017 

*RES 2: Cnh6.8365 - 2018 High July 20 

*RES 1: Cnh6.8179 - Hourly support July 20 now resistance

*PRICE: Cnh6.7800 @ 0210GMT

*SUP 1: Cnh6.7757 - Low July 20

*SUP 2: Cnh6.7576 - 2018 High July 18 now support

*SUP 3: Cnh6.6823 - Low July 16

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

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

aggressive bounce from ahead of this level that has resulted in repeated fresh

2018 & 12mth highs. Immediate focus is now on the Cnh6.8596-8897 region where

June 2017 highs are located. In saying that, the lack of topside follow through

has left the pair looking a little offered. Bears now need a close below

Cnh6.7576 to ease bullish pressure and below Cnh6.7326 to shift focus back to

the 21-DMA (Cnh6.6771).

     DOLLAR-PHP TECHS: Php53.147 Support Remains Key

*RES 4: Php54.904 - 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: Php53.299 @ 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 ease bullish pressure & hint at a move back to Php52.267-771. Bulls continue

to look for a close above Php54.325 to confirm focus on the daily bull channel

top coming in around Php54.904 today.

     DOLLAR-THB TECHS: Bears Now Need Close Below Thb33.13

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

*RES 3: Thb33.55 - 100-WMA 

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

*RES 1: Thb33.52 - 2018 High July 20

*PRICE: Thb33.32 @ 2300GMT

*SUP 1: Thb33.19 - 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

Thb33.54-70 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 (Thb33.44) is the key concern for bulls and limits 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 Idr14455

*RES 4: Idr15500 - Monthly High July 9 1998 

*RES 3: Idr14730 - 2015 High Sept 29 

*RES 2: Idr14620 - Low Oct 1 2015 now resistance 

*RES 1: Idr14540 - 2018 High July 20

*PRICE: Idr14475 @ 2300GMT

*SUP 1: Idr14455 - High July 3 now support 

*SUP 2: Idr14334 - 21-DMA 

*SUP 3: Idr14250 - Low July 2 

*SUP 4: Idr14110 - Alternating daily support/resistance

*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. Bears

now need a close below Idr14455 to ease bullish pressure and below the 21-DMA to

shift initial focus back to Idr14250 and hint at a move back to the 55-DMA

(Idr14124). While Idr14455 supports bulls focus on Idr14620-730.

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

[TOPICS: MTABLE]