The 21-DMA capped rallies last week with layers of resistance noted in the Sgd1.2513-45 region. Bulls continue to look for a close above Sgd1.2545 to confirm a break of the 21 & 55-DMA’s, Ichimoku cloud base (Sgd1.2506) and falling daily trend line which shifts immediate focus to the 100 & 200-DMA’s. While Sgd1.2521 caps bears target fresh 2014 lows with focus then shifting to the Sgd1.2342 Oct 2013 monthly low
RES 4: Sgd1.2570 – 200-DMA
RES 3: Sgd1.2545 – High June 18
RES 2: Sgd1.2521 – 55-DMA, Falling daily trend line
RES 1: Sgd1.2513 – 21-DMA
LPRICE: Sgd1.2501
SUP 1: Sgd1.2467 – Low June 19
SUP 2: Sgd1.2450 – 2014 low Apr 9
SUP 3: Sgd1.2342 – Monthly low Oct 2013
SUP 4: Sgd1.2268 – Monthly low May 8 2013
Fresh 2014 and 6 year lows Friday reconfirm the bearish pressure that sees bears targeting sub Krw1000.0 levels. Initial resistance is noted at the previous Krw1015.5 low with a close above needed to ease bearish pressure a little. Layers of resistance remain in the Krw1021.4-1030.1 region with bulls needing a close above Krw1030.1 to hint at a move back to the Krw1042.0-1050.6 region. Daily studies have room to move before becoming O/S.
RES 4: Krw1027.5 – 55-DMA
RES 3: Krw1025.9 – High June 3
RES 2: Krw1021.4 – High June 25
RES 1: Krw1015.5 – Previous daily support now resistance
LPRICE: Krw1013.2
SUP 1: Krw1012.5 – Weekly Bollinger base
SUP 2: Krw995.6 – Monthly low July 10 2008
SUP 3: Krw971.3 – Monthly Low Apr 7 2008
SUP 4: Krw955.9 – Low Mar 7 2008
After spending the past couple of weeks largely capped by the 21 & 55-DMA’s USD/CNH has broken lower with a bearish cross on the Slow Stochastic study from moderately O/B levels adding weight to the bearish case. Immediate focus shifts to the June monthly low and then the 100-DMA. Bears now target a close below the 100-DMA while the Cnh6.2361 resistance caps. Bulls need a close above this level to end bearish hopes.
RES 4: Cnh6.2714 – 2014 high Apr 30
RES 3: Cnh6.2632 – High June 5
RES 2: Cnh6.2361 – High June 25
RES 1: Cnh6.2213 – Low June 24 now resistance
LPRICE: Cnh6.2137
SUP 1: Cnh6.2035 – Monthly Low June 13
SUP 2: Cnh6.1935 – 100-DMA
SUP 3: Cnh6.1850 – Low Apr 9
SUP 4: Cnh6.1705 – Low Mar 25
The rally last week stalled ahead of the initial resistance at Php43.960 with bulls needing a close above to confirm an easing of bearish pressure. The Php44.035-44.155 region remains key resistance for the pair with bulls needing a close above to confirm a break of the 200-DMA and shift overall focus higher to the Php44.790 Apr 25 high. Bears continue to look for a close below Php43.730 to reconfirm focus on 2014 lows
RES 4: Php44.320 – High May 7
RES 3: Php44.155 – 200-DMA
RES 2: Php44.035 – 55-DMA
RES 1: Php43.960 – Low June 18 now resistance
LPRICE: Php43.751
SUP 1: Php43.730 – Low June 20
SUP 2: Php43.604 – Bollinger band base
SUP 3: Php43.510 – 2014 Low June 9
SUP 4: Php43.470 – Low Nov 14 2013
USD/THB continues to oscillate around the 100-DMA as daily studies correct back to neutral levels. The 21-DMA remains key resistance with bulls now needing to see a close above the Thb32.54 high from June 18 to confirm a break and an easing of bearish pressure, seeing focus shift back to the Thb32.73-90 region. Bears now look for a close below the Thb32.40 support to confirm bearish pressure and initially target the Thb32.18-23 region.
RES 4: Thb32.90 – High June 2
RES 3: Thb32.73 – Previous daily support now resistance
RES 2: Thb32.54 – High June 18
RES 1: Thb32.47 – 21-DMA
LPRICE: Thb32.41
SUP 1: Thb32.40 – Low June 24
SUP 2: Thb32.29 – Low May 5
SUP 3: Thb32.25 – Bollinger band base
SUP 4: Thb32.23 – 200-DMA
USD/MYR chopped around the 21-DMA last week with the rally remaining capped ahead of the falling daily trend line and 55-DMA. Initial resistance is noted at Myr3.2205 with a close above needed to ease bearish pressure. Layers of resistance remain in the Myr 3.2300-3.2445 region with bulls needing a close above the 200-DMA to shift overall focus to the Myr3.2690 level.
RES 4: Myr3.2350 – High June 18
RES 3: Myr3.2317 – 55-DMA
RES 2: Myr3.2300 – Alternating daily support/resistance, Falling daily trend line
RES 1: Myr3.2205 – High June 26
LPRICE: Myr3.2117
SUP 1: Myr3.2065 – Low June 27
SUP 2: Myr3.2010 – Low June 11, Bollinger band base
SUP 3: Myr3.1940 – 2014 Low June 9
SUP 4: Myr3.1856 – Weekly Bollinger band base
