Bears continue to dominate with fresh 2014 lows last week retaining immediate focus on Sgd1.2342 Oct 2013 monthly low. O/S daily studies remain a concern for bears, 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 immediate focus to the 100 & 200-DMA’s.
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: Sgd1.2409
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
Bulls take comfort in Friday’s rally and close above the 21-DMA. Immediate focus now shifts to the 55-DMA with bulls looking for a close above Krw1025.9 to confirm a break above and see the immediate focus shift to Krw1030.0 and overall focus to the Krw1040.3-1042.0 region. Bears now need to see a close back below Krw1015.1 to reconfirm bearish focus. Daily studies are correcting from O/S and support further topside.
RES 4: Krw1030.0 – High May 14
RES 3: Krw1025.9 – High June 3
RES 2: Krw1022.0 – 55-DMA
RES 1: Krw1021.4 – High June 25
LPRICE: Krw1019.1
SUP 1: Krw1015.1 – Low July 11
SUP 2: Krw1008.4 – 2014 Low July 4
SUP 3: Krw1000.0 – Psychological support
SUP 4: Krw995.6 – Monthly low July 10 2008
O/S daily studies appear to be having an impact with USD/MYR closing back above Myr3.1820 easing bearish pressure a little with immediate focus returning to layers of resistance in the Myr3.1940-3.2208 region. Bulls now look for a close above the 55-DMA (Myr3.2208) to end bearish hopes and shift focus to the 100 & 200-DMA’s around the Myr3.2430 level. Myr3.1820 becomes initial support with a close below to reconfirm bearish pressure.
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: Myr3.1940 – Low June 9 now resistance
LPRICE: Myr3.1857
SUP 1: Myr3.1820 – Alternating daily support/resistance
SUP 2: Myr3.1660 – 2014 Low July 9
SUP 3: Myr3.1644 – 100-WMA
SUP 4: Myr3.1295 – Monthly low Oct 28 2013
USD/CNH traded at fresh 3 month lows Thursday before bouncing from ahead of the Bollinger band base. The proximity of the Bolli base combined with O/S daily studies may limit downside follow through and see a bounce back to the Cnh6.2144-6.2213 region. Bulls need a close above the 21-DMA to ease bearish pressure and a close above Cnh3.2361 to confirm a break of the 55-DMA and an overall shift higher in focus back to the 2014 highs.
RES 4: Cnh6.2361 – High June 25
RES 3: Cnh6.2297 – 55-DMA
RES 2: Cnh6.2213 – Low June 24 now resistance
RES 1: Cnh6.2145 – 21-DMA
LPRICE: Cnh6.2014
SUP 1: Cnh6.1917 – Bollinger band base
SUP 2: Cnh6.1850 – Low Apr 9
SUP 3: Cnh6.1705 – Low Mar 25
SUP 4: Cnh6.1352 – 200-DMA
USD/PHP bounced from fresh 2014 lows last week as O/S daily studies appear to be having an impact. Immediate focus now shifts to the Php43.730-960 region with bulls looking for a close above Php43.960 to confirm a break of the 21-DMA, falling daily trend line and 55-DMA. This would then see focus shifting to the Php44.125-231 region where the 100 & 200-DMA’s are located. Bears now need a close below Php43.390 to reconfirm bearish focus.
RES 4: Php44.125 – 200-DMA
RES 3: Php43.960 – Low June 18 now resistance
RES 2: Php43.851 – 55-DMA
RES 1: Php43.730 – Low June 20 now resistance
LPRICE: Php43.561
SUP 1: Php43.390 – Alternating daily support/resistance
SUP 2: Php43.180 – Low Nov 8 2013
SUP 3: Php43.000 – Monthly Low Oct 25 2013
SUP 4: Php42.972 – 200-WMA
Fresh 3 month lows continued for USD/THB last week but very O/S daily tech studies and closes below the 21 day lower Bollinger band could see further downside attempts lacking follow through and consolidation as the lower Bolli catches up. Bulls continue to look for a close above Thb32.29 to ease the bearish pressure and shift focus back to the Thb32.46-54 region with a close above Thb32.54 needed to target 2014 highs
RES 4: Thb32.46 – High July 2
RES 3: Thb32.29 – Low May 5 now resistance
RES 2: Thb32.28 – 200-DMA
RES 1: Thb32.22 -High July 10
LPRICE: Thb32.10
SUP 1: Thb32.09 – Low July 10
SUP 2: Thb32.06 – 55-WMA
SUP 3: Thb32.05 – 2014 Low Mar 19
SUP 4: Thb31.90 – Low Dec 11 2013
