Bears continue to dominate with fresh 2014 lows retaining immediate focus on Sgd1.2342 Oct 2013 monthly low. A concern for bears are the O/S daily studies but in saying that, bulls need a close above Sgd1.2445 to ease the bearish pressure a little. Overall a close above Sgd1.2517 is needed to confirm a break of the 55-DMA and shift overall focus to the Sgd1.2595 level.
RES 4: Sgd1.2517 – High June 26
RES 3: Sgd1.2504 – 55-DMA
RES 2: Sgd1.2497 – High July 3
RES 1: Sgd1.2445 – Previous 2014 low now resistance
LPRICE: Sgd1.2410
SUP 1: Sgd1.2395 – 2014 low July 10
SUP 2: Sgd1.2342 – Monthly low Oct 2013
SUP 3: Sgd1.2268 – Monthly low May 8 2013
SUP 4: Sgd1.2195 – 2013 low Jan 2 2013
USD/KRW continues to recover albeit slowly from recent 2014 and multi-year lows as daily studies correct from O/S levels. Bulls look for a close above Krw1015.5 to confirm an easing of bearish focus whereas a close above Krw1025.9 is needed to end bearish hopes and hint at a move back to the Krw1042.0-1050.6 region. While the Krw1015.5 caps immediate bearish focus remains on sub Krw1000.0 levels.
RES 4: Krw1025.9 – High June 3
RES 3: Krw1022.4 – 55-DMA
RES 2: Krw1021.4 – High June 25
RES 1: Krw1015.5 – Previous daily support now resistance, 21-DMA
LPRICE: Krw1013.2
SUP 1: Krw1008.4 – 2014 Low July 4
SUP 2: Krw1000.0 – Psychological support
SUP 3: Krw995.6 – Monthly low July 10 2008
SUP 4: Krw971.3 – Monthly Low Apr 7 2008
As daily studies look to correct from very O/S levels USD/MYR managed its first decent bounce for a number of weeks. Bulls continue to look for a close above Myr3.1820 to ease bearish pressure and shift focus back to layers of resistance in the Myr3.2070-3.2442 region where key moving averages, falling daily trend line and previous highs are located. The key concern for bears remains O/S daily and weekly studies.
RES 4: Myr3.2205 – High June 26
RES 3: Myr3.2100 – High July 3
RES 2: Myr3.2010 – Previous daily support now resistance
RES 1: Myr3.1820 – Previous 2014 low now resistance
LPRICE: Myr3.1791
SUP 1: Myr3.1660 – 2014 Low July 9
SUP 2: Myr3.1644 – 100-WMA
SUP 3: Myr3.1295 – Monthly low Oct 28 2013
SUP 4: Myr3.1220 – 200-WMA
Fresh 2014 lows continued Thursday before managing the first decent bounce traders have seen in a number of weeks. The Php43.510 level remains key for now with bulls needing a close above to confirm an easing of bearish pressure. Overall bulls look for a close above Php43.730 to confirm a break of the 21-DMA and falling daily trend line and shift immediate focus to key moving averages noted in the 43.872-44.243 region.
RES 4: Php43.960 – Low June 18 now resistance
RES 3: Php43.872 – 55-DMA
RES 2: Php43.730 – Low June 20 now resistance
RES 1: Php43.510 – Previous 2014 low now resistance
LPRICE: Php43.381
SUP 1: Php43.180 – Low Nov 8 2013
SUP 2: Php43.000 – Monthly Low Oct 25 2013
SUP 3: Php42.972 – 200-WMA
SUP 4: Php42.785 – 100-WMA
Fresh 3 month lows continued for USD/THB on Thursday but the very O/S daily tech studies and closes below the 21 day lower Bollinger band could see further downside attempts lacking follow through. Bulls continue to look for a close above Thb32.29 to ease the bearish pressure whereas a close above Thb32.54 is needed to confirm a break of key moving averages, ending bearish hopes and see overall focus shift to the Thb32.73-90 region.
RES 4: Thb32.46 – High July 2
RES 3: Thb32.29 – Low May 5 now resistance
RES 2: Thb32.27 – 200-DMA
RES 1: Thb32.22 – High July 10
LPRICE: Thb32.12
SUP 1: Thb32.09 – Low July 10
SUP 2: Thb32.05 – 2014 Low Mar 19
SUP 3: Thb32.04 – 55-WMA
SUP 4: Thb31.90 – Low Dec 11 2013
