MNI Dollar-Asia Morning FX Technical Analysis

7 December 2017

By Kyle Shortland

Click below for today's MNI FX Technical Analysis Report -

http://tinyurl.com/pzkomnu

DOLLAR-SING TECHS: Below Sgd1.3399 To Reconfirm Focus On 2017 Lows

*RES 4: Sgd1.3659 - Monthly High Nov 6 

*RES 3: Sgd1.3563 - 100-DMA 

*RES 2: Sgd1.3561 - 55-DMA 

*RES 1: Sgd1.3532 - 200-WMA

*PRICE: Sgd1.3492 @ 2300GMT

*SUP 1: Sgd1.3459 - Low Dec 6 

*SUP 2: Sgd1.3448 - Low Dec 5 

*SUP 3: Sgd1.3415 - Low Dec 1 

*SUP 4: Sgd1.3399 - Low Sept 20

*COMMENTARY: Correcting O/S daily studies impacted last week with support

emerging on dips a concern for bears. Bulls continue to look for a close above

the 200-WMA to ease bearish pressure and above the 100-DMA to shift initial

focus to Sgd1.3659. Initial support remains at Sgd1.3459 but bears still need a

close below Sgd1.3399 to reconfirm focus on 2017 lows.

DOLLAR-WON TECHS: Above Krw1101.4 Initially Pressures Krw1107.5-1110.5

*RES 4: Krw1110.5 - Low Mar 28 now resistance

*RES 3: Krw1107.5 - High Nov 16

*RES 2: Krw1101.4 - High Nov 20

*RES 1: Krw1098.3 - 21-DMA

*PRICE: Krw1093.7 @ 2300GMT

*SUP 1: Krw1090.9 - High Nov 28 now support

*SUP 2: Krw1080.3 - Low Nov 30

*SUP 3: Krw1075.5 - 2017 Low Nov 29

*SUP 4: Krw1066.6 - 2015 Low Apr 29 2015

*COMMENTARY: The lack of follow through on 2017/2+ year lows is a concern when

combined with correcting O/S daily studies & the Bollinger band base (Krw1070.8)

limiting follow through. Bulls still need a close above Krw1101.4 to confirm a

break of the 21-DMA and shift focus to Krw1107.5-1110.5. Bears now need a close

below Krw1090.9 to gain breathing room and below Krw1080.3 to retain focus on

2015 lows and then the Krw1045.6 Oct monthly low from 2014.

DOLLAR-MYR TECHS: Myr4.0930 Resistance Now Key

*RES 4: Myr4.1725 - Lows Nov 10 & 15 now resistance 

*RES 3: Myr4.1423 - High Nov 24 

*RES 2: Myr4.1311 - High Nov 28 

*RES 1: Myr4.0930 - High Nov 30

*PRICE: Myr4.0711 @ 2300GMT

*SUP 1: Myr4.0370 - Monthly Low Sept 8 2016 

*SUP 2: Myr4.0181 - Daily Bear channel base 

*SUP 3: Myr4.0135 - Low Aug 26 2016 

*SUP 4: Myr3.9750 - Monthly Low Aug 16 2016

*COMMENTARY: Having recently found support around the longer-term bear channel

base (Myr4.0758) bears take comfort in Monday's sell-off and bearish close that

sees focus on Myr3.9750-4.0315 where the Aug monthly low is noted. Overall focus

remains on the 200-WMA (Myr3.9190). Initial resistance is noted at Myr4.0930

with bulls needing a close above to ease bearish pressure and hint at a

correction back to Myr4.1311-1423.

DOLLAR-CNH TECHS: Cnh6.6343-6904 Resistance Key

*RES 4: Cnh6.6904 - High Oct 3 

*RES 3: Cnh6.6651 - High Oct 27 

*RES 2: Cnh6.6329 - 100-DMA 

*RES 1: Cnh6.6279 - High Nov 30

*PRICE: Cnh6.6175 @ 2300GMT

*SUP 1: Cnh6.5926 - Low Dec 1

*SUP 2: Cnh6.5674 - Low Nov 24

*SUP 3: Cnh6.5568 - Low Oct 11

*SUP 4: Cnh6.5409 - Low Sept 18

*COMMENTARY: Hesitation above 21 (Cnh6.6205) & 55 (Cnh6.6214) DMAs continues and

is a concern for bulls with this region capping so far this week. Immediate

bearish focus remains on Cnh6.5568-5674 with a close below to target Cnh6.5033.

Bulls still need a close above the 100-DMA to add support to the case for a move

back to the 200-DMA (Cnh6.7414) with above Cnh6.6904 needed to confirm.

DOLLAR-PHP TECHS: 21-DMA & 200-DMA Levels Key Today

*RES 4: Php51.084 - 55-DMA 

*RES 3: Php51.030 - High Nov 20 

*RES 2: Php50.832 - 21-DMA 

*RES 1: Php50.750 - High Nov 24

*PRICE: Php50.710 @ 2300GMT

*SUP 1: Php50.496 - 200-DMA 

*SUP 2: Php50.240 - Monthly Low Nov 29 

*SUP 3: Php50.140 - Monthly Low Aug 4 

*SUP 4: Php49.970 - Low June 20

*COMMENTARY: Bulls took comfort in the aggressive break and close above the

200-DMA that eased bearish pressure with above the 21-DMA now needed to shift

focus to 100 & 55-DMAs Php50.972-51.084. Correcting O/S daily studies add

support to the bullish case. Initial support has been reconfirmed at the 200-DMA

with bears needing a close below to confirm a false break and return pressure to

Php49.970-50.140.

DOLLAR-THB TECHS: Above 21-DMA To Ease Bearish Pressure

*RES 4: Thb33.07 - High Nov 15 

*RES 3: Thb32.92 - High Nov 17 

*RES 2: Thb32.78 - 21-DMA 

*RES 1: Thb32.77 - High Nov 22

*PRICE: Thb32.62 @ 2300GMT

*SUP 1: Thb33.48 - 2017 Low Nov 29 

*SUP 2: Thb32.26 - 2015 Lows Feb 26 & Apr 17 & 20 2015 

*SUP 3: Thb32.19 - Monthly Low Oct 21 2014 

*SUP 4: Thb31.99 - Daily Bear channel base

*COMMENTARY: Repeated fresh 2017 lows added weight to the bearish case with

overall focus on tests of the bear channel base. O/S daily studies looking to

correct higher remain key concern for bears. In saying that, bulls still need a

close above the 21-DMA to ease immediate bearish pressure and hint at a

correction back to Thb32.92-33.14 where 55 & 100-DMAs and MT bear channel top

(Thb32.95) are located.

DOLLAR-IDR TECHS: Idr13490 & Idr13558 Levels Key

*RES 4: Idr13640 - 2017 High Oct 27 

*RES 3: Idr13605 - High Oct 30 

*RES 2: Idr13558 - Low Nov 13 

*RES 1: Idr13552 - Bollinger band top

*PRICE: Idr13538 @ 2300GMT

*SUP 1: Idr13508 - 55-DMA 

*SUP 2: Idr13490 - Low Nov 7 

*SUP 3: Idr13455 - Low Oct 5 

*SUP 4: Idr13421 - 100-DMA

*COMMENTARY: The bullish close above the 21-DMA (Idr13524) increases bullish

confidence but a close above Idr13558 remains needed to reconfirm focus on

Idr13605-640 where 2017 highs are situated. The 55-DMA remains initial support

but bears need a close below Idr13490 to confirm a break and below Idr13455 to

confirm focus on Idr13371-421 where 100 & 200-DMAs are situated. Narrowing

Bollinger bands are hinting at a breakout.

DOLLAR-INR TECHS: Bulls Need Close Above Inr64.6300

*RES 4: Inr65.1375 - Low Nov 16 now resistance 

*RES 3: Inr64.8986 - 55-DMA 

*RES 2: Inr64.8112 - 200-DMA 

*RES 1: Inr64.6300 - High Nov 30

*PRICE: Inr64.3800 @ 2300GMT

*SUP 1: Inr64.1982 - Daily Bear channel base 

*SUP 2: Inr64.1272 - Bollinger band base 

*SUP 3: Inr63.7750 - Monthly Low Sept 8 

*SUP 4: Inr63.5600 - 2017 Low Aug 3

*COMMENTARY: Failure to gain traction on pops above the LT falling TL

(Inr65.2222) off Nov 2016 highs in recent weeks resulted in a sell off that sees

the pair pressuring the daily bear channel base and a close below to confirm

focus on 2017 lows. Bulls need a close above Inr64.6300 to ease bearish pressure

and above the 55-DMA to shift focus to layers of resistance Inr65.1375-5425. O/S

daily studies remain a concern for bears.

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

[TOPICS: MTABLE]