Pressure has returned to the Sgd1.2446-65 region with the 21-DMA noted at Sgd1.2456. Bulls look for a close above the falling daily trend line (Sgd1.2465) to confirm a break of the 21-DMA and an easing of bearish pressure. Overall a close above Sgd1.2497 is now needed to confirm a break of the 55-DMA and shift immediate focus to the 100 & 200-DMA’s. Correcting O/S daily studies are supportive of further topside
RES 4: Sgd1.2517 – High June 26
RES 3: Sgd1.2497 – High July 3
RES 2: Sgd1.2465 – Falling daily trend line, 38.2% Fibo
RES 1: Sgd1.2446 – High July 16
LPRICE: Sgd1.2441
SUP 1: Sgd1.2391 – 2014 low July 14
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
Immediate focus remains on the 38.2% Fibonacci retracement at Krw1036.9 with initial support now noted at Thursday’s Krw1025.5 low. Tuesday’s close above the 55-DMA was the first since late March with bears now needing a close below Krw1025.5 to ease bullish pressure and a close below the 55-DMA shifting focus back to the 2014 low. Layers of resistance remain in the Krw1036.9-1051.5 region including Fibo levels and key moving averages
RES 4: Krw1044.7 – High Apr 16
RES 3: Krw1042.0 – High Apr 22
RES 2: Krw1038.7 – 100-DMA
RES 1: Krw1036.9 – 38.2% Fibonacci 1083.1-1008.4
LPRICE: Krw1029.0
SUP 1: Krw1025.5 – Low July 17
SUP 2: Krw1021.3 – 55-DMA
SUP 3: Krw1016.7 – 21-DMA
SUP 4: Krw1015.1 – Low July 11
Wednesday’s failure at the 21-DMA and bearish close was followed up with a sharp fall Thursday that has seen focus shift back to the 2014 low. The key concern for bears remains correcting O/S daily studies. Bulls need to see a close above Myr3.1870 to ease bearish pressure and a close above Myr3.2205 to end bearish hopes and shift focus to the Myr3.2399-3.2423 region where key moving averages are located.
RES 4: Myr3.2205 – High June 26
RES 3: Myr3.2100 – High July 3
RES 2: Myr3.2002 – 21-DMA
RES 1: Myr3.1870 – Low July 16 now resistance
LPRICE: Myr3.1771
SUP 1: Myr3.1740 – Low July 17
SUP 2: Myr3.1660 – 2014 Low July 9
SUP 3: Myr3.1295 – Monthly low Oct 28 2013
SUP 4: Myr3.1224 – 200-WMA
USD/CNH continued its retreat from Monday & Tuesday’s brief move above the 21 & 100-DMAs although the move has so far lacked follow through. Layers of support are noted Cnh6.1909-95 & with the Bollinger band base at Cnh6.1909 follow through below this level may be limited. Layers of resistance remain Cnh6.2172-6.2361 with a close above needed to confirm a break of the 55-DMA and daily channel top, shifting focus to the Cnh6.2632-6.2714 region.
RES 4: Cnh6.2361 – High June 25
RES 3: Cnh6.2265 – 55-DMA, Falling daily channel Top
RES 2: Cnh6.2213 – Low June 24 now resistance
RES 1: Cnh6.2172 – High July 16
LPRICE: Cnh6.2042
SUP 1: Cnh6.1995 – Low July 17
SUP 2: Cnh6.1930 – Low July 10
SUP 3: Cnh6.1909 – Bollinger band base
SUP 4: Cnh6.1850 – Low Apr 9
USD/PHP bounced from fresh 2014 lows last week but the rally has so far stalled at layers of resistance noted in the Php43.647-792 region including 21 & 55-DMAs and the falling daily trend line. Bulls look for a close above the 55-DMA to confirm an easing of bearish pressure and shift immediate focus to the Php44.126-201 region where the 100 & 200-DMA’s are located. Bears need a close below Php43.390 to reconfirm bearish focus and target the 200-WMA.
RES 4: Php43.960 – Low June 18 now resistance
RES 3: Php43.792 – 55-DMA
RES 2: Php43.730 – Low June 20 now resistance
RES 1: Php43.647 – 21-DMA
LPRICE: Php43.501
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: Php42.970 – 200-WMA
Layers of support remain clustered in the Thb32.04-06 region including daily and weekly Bollinger band bases with dollar-thb having bounced from this region on Thursday. Bulls need to see a close above Thb32.22 to ease bearish pressure and a close above Thb32.29 to confirm a break of the 200-DMA and shift focus to layers of resistance
in the Thb23.34-54 region.
RES 4: Thb32.46 – High July 2
RES 3: Thb32.34 – Low May 5 now resistance
RES 2: Thb32.29 – 200-DMA
RES 1: Thb32.22 – High July 10
LPRICE: Thb32.13
SUP 1: Thb32.06 – 55-WMA
SUP 2: Thb32.05 – 2014 Low Mar 19, weekly Bollinger band base
SUP 3: Thb32.04 – Bollinger band base
SUP 4: Thb31.90 – Low Dec 11 2013
