MNI Dollar-Asia Morning FX Technical Analysis

24 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 Now Need Close Below Sgd1.3580

*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: Sgd1.3660 - High July 23

*PRICE: Sgd1.3653 @ 2300GMT

*SUP 1: Sgd1.3626 - Hourly support July 23 

*SUP 2: Sgd1.3580 - Low July 17 

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

*SUP 4: Sgd1.3563 - Low July 11

*COMMENTARY: Bulls take comfort in support emerging ahead of Sgd1.3580 to start

the new week. Bears now need a close below Sgd1.3580 to shift initial focus back

to Sgd1.3490-1.3523 where the 55-DMA (Sgd1.3507) and daily bull channel base are

situated. Bulls now need a close above Sgd1.3660 to confirm a break above the

21-DMA (Sgd1.3638) and return initial focus to tests of 2018 highs. Overall a

close above Sgd1.3745 is needed to target Sgd1.4077 Apr 2017 highs.

     DOLLAR-WON TECHS: Below Krw1121.4 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: Krw1132.4 @ 2300GMT

*SUP 1: Krw1122.4 - 21-DMA

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

*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. Bears now look for a close below Krw1121.4 to confirm a break of the

21-DMA, easing bullish pressure, and shift focus back to Krw1096.7-1108.6 where

the 55-DMA (Krw1097.9) is situated. The Bollinger top (Krw1136.6) is the key

concern for bulls and limits follow through. In saying that, while Krw1121.4

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: Myr4.0658 - Bollinger band top 

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

*RES 1: Myr4.0641 - 55-WMA

*PRICE: Myr4.0600 @ 2300GMT

*SUP 1: Myr4.0400 - 21-DMA 

*SUP 2: Myr4.0330 - Low July 13 

*SUP 3: Myr4.0004 - 200-DMA 

*SUP 4: Myr3.9950 - Low June 25

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

in recent fresh 2018 & 7mth highs, reconfirming bullish focus on Myr4.0641-0920

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

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

     DOLLAR-CNH TECHS: Cnh6.7326-7549 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: Cnh6.8225- High July 23

*PRICE: Cnh6.8136 @ 0210GMT

*SUP 1: Cnh6.7952 - Hourly support July 23

*SUP 2: Cnh6.7549 - Low July 23

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

*SUP 4: Cnh6.6823 - Low July 16

*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. Bulls take comfort in Monday's bounce with bears

now needing a close below Cnh6.7549 to ease bullish pressure and below Cnh6.7326

to shift focus back to the 21-DMA (Cnh6.6911).

     DOLLAR-PHP TECHS: Php53.147 Support Remains Key

*RES 4: Php54.926 - 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: Php53.539 @ 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 Php54.926 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: Thb33.41 @ 2300GMT

*SUP 1: Thb33.21 - 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 (Thb33.47) 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: Below 21-DMA To Shift Focus Lower

*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: Idr14485 @ 2300GMT

*SUP 1: Idr14420 - High July 18 now support 

*SUP 2: Idr14353 - 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 with correcting O/B studies having weighed. Bears now need a

close below Idr14420 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 (Idr14133).

While Idr14420 supports bulls focus on Idr14620-730.

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

[TOPICS: MTABLE]