Gains continue for the pair with fresh 2014 and 3 year highs now shifting focus to the Sgd1.3125-99 region. Key concerns for bulls come from O/B daily studies and the Bollinger band top. In saying that, Layers of support accumulate with bears needing a close below Sgd1.2934 to confirm an easing of bearish pressure with a close below the Sgd1.2865 level needed to confirm a break of the 21-DMA and initially target the 55-DMA.
RES 4: Sgd1.3199 – 2011 High Oct 4 2011
RES 3: Sgd1.3125 – Monthly High Dec 15 2011
RES 2: Sgd1.3080 – Bollinger band top
RES 1: Sgd1.3068 – 2014 High Nov 19
LPRICE: Sgd1.3050
SUP 1: Sgd1.3016 – Previous 2014 high now 14 now support
SUP 2: Sgd1.2934 – Low Nov 17
SUP 3: Sgd1.2888 – 21-DMA
SUP 4: Sgd1.2865 – Low Nov 10
USD/KRW continues to make gains above the 200-WMA (Krw1094.8) with immediate focus having shifted to the Krw1115.7-1119.8 region. Initial support is now noted at Wednesday’s low but bears need a close below Monday’s Krw1092.1 low to confirm a correction is underway with focus then shifting to the Krw1071.5-1077.0 region where 21-DMA and 100-WMAs are located. Bulls take additional comfort in the 1st close above Krw1100.0 since Sept 2013.
RES 4: Krw1127.6 – High July 18 2013
RES 3: Krw1119.8 – High Aug 28 2013
RES 2: Krw1115.7 – Bollinger band top
RES 1: Krw1108.0 – Low Aug 9 2013 now resistance
LPRICE: Krw1106.1
SUP 1: Krw1099.3 – Low Nov 19
SUP 2: Krw1092.1 – Low Nov 17
SUP 3: Krw1083.6 – Low Nov 6
SUP 4: Krw1072.4 – 100-WMA
Recent pressure on the Myr3.3488 level resulted in a break higher with the bullish close seeing immediate focus on the Myr3.3650-3.3816 region where the sharply rising Bollinger band top is located. Bears now look for close below Myr3.3460 to ease bullish pressure whereas a close below Myr3.3030 is needed to confirm a break of the 21-DMA and rising daily channel base and target key DMAs in the Myr3.2240-3.2655 region.
RES 4: Myr3.4195 – High Feb 19 2010
RES 3: Myr3.3816 – Bollinger band top
RES 2: Myr3.3802 – Low Mar 2 2010
RES 1: Myr3.3650 – Monthly high May 25 2010
LPRICE: Myr3.3611
SUP 1: Myr3.3460 – Low Nov 18
SUP 2: Myr3.3320 – Low Nov 13
SUP 3: Myr3.3220 – Low Nov 4
SUP 4: Myr3.3030 – Low Nov 3
Oscillation around the 21-DMA (Cnh6.1235) continues with bears remaining focused on the Cnh6.0885-6.1100 region. The Bollinger band base is seen as the key concern for bears. In saying that, layers of resistance remain in the Cnh6.1372-6.1550 region. Bulls need a close above Cnh6.1425 to confirm an easing of bearish pressure and above Cnh6.1551 to hint at a sustained rally initially targeting Cnh6.1800-6.1836.
RES 4: Cnh6.1485 – 100-WMA
RES 3: Cnh6.1441 – 55-WMA
RES 2: Cnh6.1425 – High Nov 7
RES 1: Cnh6.1372 – 55-DMA
LPRICE: Cnh6.1241
SUP 1: Cnh6.1122 – Bollinger band base
SUP 2: Cnh6.1100 – Low Oct 29
SUP 3: Cnh6.0925 – Monthly Low Mar 7
SUP 4: Cnh6.0885 – Low Feb 24
After continuing to find support around the Php44.850 level the USD/PHP is again making topside headway. The Php44.710-850 region remains key support with bears needing a close below Php44.850 to confirm a break of the 21-DMA and an easing of bullish pressure and below Php44.710 to end bullish hopes and target the Php44.040-360 region. Bulls look for a close above Php45.120 to reconfirm bullish focus on the 2014 high.
RES 4: Php45.500 – 2014 High Feb 4
RES 3: Php45.330 – Monthly High Mar 21 & 24
RES 2: Php45.286 – Rising daily channel top
RES 1: Php45.120 – High Nov 6
LPRICE: Php45.071
SUP 1: Php44.970 – High Nov 18 now support
SUP 2: Php44.850 – Low Nov 13 & 17
SUP 3: Php44.710 – Low Oct 14
SUP 4: Php44.570 – Low Oct 9
Bullish focus remains on the recent Thb32.92 9 month high with bears needing a close below Thb32.69 to confirm an easing of bullish pressure. Bears will then look for a close below the 21-DMA to hint at a deeper correction with a close below Thb32.55 needed to confirm. While Thb32.69 supports bulls favour a break higher that targets the 2014 high.
RES 4: Thb33.13 – 2014 High Jan 6
RES 3: Thb33.03 – High Jan 31
RES 2: Thb33.00 – Bollinger band top
RES 1: Thb32.92 – High Nov 7
LPRICE: Thb32.81
SUP 1: Thb32.69 – Low Nov 10
SUP 2: Thb32.67 – 21-DMA
SUP 3: Thb32.55 – Low Nov 4
SUP 4: Thb32.42 – Low Oct 31
