MNI Dollar-Asia Morning FX Technical Analysis

25 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: Sgd1.3677 - High July 24

*PRICE: Sgd1.3638 @ 2300GMT

*SUP 1: Sgd1.3616 - Low July 24 

*SUP 2: Sgd1.3580 - Low July 17 

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

*SUP 4: Sgd1.3563 - Low July 11

*COMMENTARY: Bulls took 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 (Sgd1.3510) and daily bull channel base are

situated. Bulls now need a close above Sgd1.3677 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: Krw1122.6 - 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) remains a

concern for bulls. Bears continue to look for a close below Krw1121.4 to confirm

a break of the 21-DMA, easing bullish pressure, and shifting focus back to

Krw1098.4-1108.6 where the 55-DMA (Krw1098.6) is situated. The Bollinger top

(Krw1136.1) 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: Myr4.1067 - Daily Bull channel top 

*RES 3: Myr4.0920 - High Nov 30 

*RES 2: Myr4.0680 - 2018 High July 24 

*RES 1: Myr4.0674 - Bollinger band top

*PRICE: Myr4.0630 @ 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 Myr4.0920-1067

where the bull channel top is situated. Daily studies are now approaching O/B

and the Bollinger top is limiting follow through which are concerns for bulls.

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: Cnh6.8443 - 2018 High July 24 

*RES 1: Cnh6.8289- Bollinger band top

*PRICE: Cnh6.8111 @ 0210GMT

*SUP 1: Cnh6.7901 - Low July 24

*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 (Cnh6.7019).

     DOLLAR-PHP TECHS: Php53.147 Support Remains Key

*RES 4: Php54.325 - High Dec 2 2005 

*RES 3: Php53.990 - 2006 High June 16 

*RES 2: Php53.736 - 2018 High June 26 

*RES 1: Php53.548 - High July 24

*PRICE: Php53.250 @ 2300GMT

*SUP 1: Php53.147 - High June 12 now support 

*SUP 2: Php52.992 - 55-DMA 

*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 Php52.771. Bulls now look for

a close above Php53.548 to reconfirm focus on retests of 2018 highs and above

Php54.325 to confirm focus on the daily bull channel top coming in around

Php54.948 today.

     DOLLAR-THB TECHS: Bears 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: Thb33.37 @ 2300GMT

*SUP 1: Thb33.23 - 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 Thb32.58-60 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: Idr14560 - 2018 High July 24

*PRICE: Idr14525 @ 2300GMT

*SUP 1: Idr14420 - High July 18 now support 

*SUP 2: Idr14371 - 21-DMA 

*SUP 3: Idr14250 - Low July 2 

*SUP 4: Idr14110 - Alternating daily support/resistance

*COMMENTARY: Fresh 2018 & 3yr highs continue although follow through remains

lacking courtesy of the Bollinger band top (Idr14536). Daily studies have a

little room to move before O/B becomes an issue. Initial support is noted at

Idr14420 but the 21-DMA remains key. Bears need a close below the 21-DMA to

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

(Idr14141). While the 21-DMA supports bulls focus on Idr14620-730.

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

[TOPICS: MTABLE]