MNI Dollar-Asia Morning FX Technical Analysis

26 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: Sgd1.3574 Support Key Today

*RES 4: Sgd1.3745 - 2018 High July 3 

*RES 3: Sgd1.3700 - Hourly resistance July 20 

*RES 2: Sgd1.3677 - High July 24 

*RES 1: Sgd1.3616 - Low July 24 now resistance

*PRICE: Sgd1.3584 @ 2300GMT

*SUP 1: Sgd1.3574 - Hourly support July 11 

*SUP 2: Sgd1.3563 - Low July 11 

*SUP 3: Sgd1.3522 - Daily Bull channel base off Apr 19 low 

*SUP 4: Sgd1.3513 - 55-DMA

*COMMENTARY: The sell-off Wednesday leaves the pair looking offered and

pressuring the Sgd1.3574 support. Bears now need a close below this level to

confirm focus on Sgd1.3490-1.3522 where the 55-DMA and daily bull channel base

off Apr 19 lows is noted. Overall bears need a close below Sgd1.3490 to end

bullish hopes and shift focus back to Sgd1.3365-1.3425 where 100 & 200-DMAs are

found. Bulls now need a close above Sgd1.3616 to gain breathing room.

     DOLLAR-WON TECHS: Focus Shifts To Krw1098.4-1108.6

*RES 4: Krw1137.3 - High July 24

*RES 3: Krw1130.0 - High July 25

*RES 2: Krw1125.0 - Low July 24 now resistance

*RES 1: Krw1121.8 - 21-DMA

*PRICE: Krw1117.2 @ 2300GMT

*SUP 1: Krw1108.6 - Low July 10

*SUP 2: Krw1108.1 - Bollinger band base

*SUP 3: Krw1103.5 - Low June 20

*SUP 4: Krw1098.4 - Monthly High Feb 6 now support

*COMMENTARY: Failure to gain traction above the 200-WMA (Krw1128.3) has taken

its toll with a sell-off and close below the 21-DMA that eases bullish pressure

and shifts focus back to Krw1098.4-1108.6 where the 55-DMA (Krw1099.4) is found.

Layers of resistance accumulating add weight to the bearish case. Bulls now need

a close above Krw1125.0 to ease bearish pressure and above Krw1130.0 to return

focus to Krw1137.3-1157.8.

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

*RES 4: Myr4.1090 - Daily Bull channel top 

*RES 3: Myr4.0920 - High Nov 30 

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

*RES 1: Myr4.0675 - Bollinger band top

*PRICE: Myr4.0630 @ 2300GMT

*SUP 1: Myr4.0438 - 21-DMA 

*SUP 2: Myr4.0330 - Low July 13 

*SUP 3: Myr3.9988 - 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 Myr4.0920-1090

where the bull channel top is situated. Daily studies at O/B levels and the

Bollinger top limiting follow through remain 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: Bears Need Close Below Cnh6.7326

*RES 4: Cnh6.8443 - 2018 High July 24 

*RES 3: Cnh6.8229- Bollinger band top 

*RES 2: Cnh6.8209 - High July 25 

*RES 1: Cnh6.7901 - Low July 24 now resistance

*PRICE: Cnh6.7624 @ 2300GMT

*SUP 1: Cnh6.7524 - Low July 25

*SUP 2: Cnh6.7326 - High July 3 now support

*SUP 3: Cnh6.7061 - 21-DMA

*SUP 4: Cnh6.6823 - Low July 16

*COMMENTARY: The lack of topside follow through on recent fresh 2018 & 13mth

highs has resulted in a sharp sell-off with focus now on Cnh6.7326. Bears need a

close below this level to confirm a break of the rising TL off June 14 lows and

initially pressure the 21-DMA. Bears then look for a close below Cnh6.6673 to

shift focus back to Cnh6.5948-95 which provided the base for the rally to 2018

highs. Bulls now need a close above Cnh6.7901 to gain breathing room and retain

initial focus on Cnh6.8209-8443.

     DOLLAR-PHP TECHS: Supported Ahead Of 55-DMA

*RES 4: Php53.990 - 2006 High June 16 

*RES 3: Php53.736 - 2018 High June 26 

*RES 2: Php53.548 - High July 24 

*RES 1: Php53.390 - 21-DMA

*PRICE: Php53.250 @ 2300GMT

*SUP 1: Php53.125 - Low July 25 

*SUP 2: Php53.016 - 55-DMA 

*SUP 3: Php52.945 - Low June 12 

*SUP 4: Php52.823 - Daily Bull channel base off 2018 Low

*COMMENTARY: Follow through has been lacking on recent 2018 & 12+yr highs which

is less than ideal for bulls. The dip below Php53.147 has so far lacked follow

through. Bears continue to look for a close below Php52.771 to confirm traction

below the 55-DMA and daily bull channel base and shift initial focus to

Php52.490-568 where the 100-DMA is found. 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 Php54.970 today.

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

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

*RES 3: Thb33.54 - Monthly High Oct 3, 100-WMA 

*RES 2: Thb33.52 - 2018 High July 20 

*RES 1: Thb33.30 - Low July 24 now resistance

*PRICE: Thb33.22 @ 2300GMT

*SUP 1: Thb33.13 - Low July 11 

*SUP 2: Thb32.93 - Low June 27 

*SUP 3: Thb32.79 - Low June 21 

*SUP 4: Thb32.62 - 55-DMA

*COMMENTARY: The failure to better recent 2018 highs resulted in a dip with the

pair flirting with the 21-DMA (Thb33.23). Bears continue to look for a close

below Thb33.13 to ease bullish pressure and below Thb32.93 to shift focus back

to Thb32.58-62 where the 55-DMA is located. Bulls now look for a close above

Thb33.30 to gain breathing room and above Thb33.54 to confirm initial focus on

Thb33.70-97 where the 200-WMA is found.

     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: Idr14455 @ 2300GMT

*SUP 1: Idr14420 - High July 18 now support 

*SUP 2: Idr14385 - 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 (Idr14527). 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

(Idr14148). 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]