Time spent below the 21-DMA was brief with Wednesday’s bounce and close back above the Sgd1.3077 level having eased the brief bearish pressure and shifted immediate focus back to the Sgd1.3140 level. Overall bulls continue to look for a close above Sgd1.3140 to confirm a bullish bias and target the Sgd1.3221-43 region where the Bollinger band top and 2014 highs are located. Bears now need a close
back below the pivotal Sgd1.3077 level.
RES 4: Sgd1.3243 – 2014 High Dec 8
RES 3: Sgd1.3221 – Bollinger band top
RES 2: Sgd1.3178 – Low Dec 8
RES 1: Sgd1.3140 – High Dec 12
LPRICE: Sgd1.3100
SUP 1: Sgd1.3077 – Alternating daily support/resistance
SUP 2: Sgd1.3000 – Low Dec 17
SUP 3: Sgd1.2955 – Low Nov 27
SUP 4: Sgd1.2921 – 55-DMA
USD/KRW bounced from below the 55-DMA and 50% Fibonacci retracement Wednesday with the bullish close and correcting O/S daily studies providing bulls with hope. In saying that, a close above Krw1096.0 is needed to confirm an easing of bearish pressure whereas a close above Krw1108.6 needed to shift focus back to the Krw1121.8-1122.2 region where 2014 highs and the Bollinger band top are located
RES 4: Krw1121.7 – 2014 High Dec 8
RES 3: Krw1114.8 – High Dec 9
RES 2: Krw1108.6 – High Dec 10
RES 1: Krw1096.0 – High Dec 17
LPRICE: Krw1094.7
SUP 1: Krw1080.7 – Low Dec 17
SUP 2: Krw1074.7 – 61.8% Fibonacci 1045.6-1121.8
SUP 3: Krw1071.5 – Low Nov 3
SUP 4: Krw1062.0 – High Oct 24 now support
Despite fresh 5 year highs last week, O/B daily studies remain the key concern for bulls with continued hesitation ahead of recent highs also a worry. Bears need a close below Myr3.4720 to ease bullish pressure and hint at a deeper correction that initially targets Myr3.4286-3.4385. A close below the 21-DMA would end bullish hopes and see bears initially target the Myr3.3220-3.3320 region with the 55-DMA at
Myr3.3458.
RES 4: Myr3.6010 – Monthly High July 13 2009
RES 3: Myr3.5785 – High July 17 2009
RES 2: Myr3.5480 – High Aug 19 2009
RES 1: Myr3.5090 – High Sept 14 2009
LPRICE: Myr3.4841
SUP 1: Myr3.4720 – Low Dec 10
SUP 2: Myr3.4385 – Previous 2014 High Dec 1 now support
SUP 3: Myr3.4040 – Low Dec 1
SUP 4: Myr3.3845 – High Nov 28 now support
Immediate pressure has returned to the Cnh6.2053 level with bears needing a close below Cnh6.1855 to confirm an easing of bullish pressure and to shift immediate focus to the Cnh6.1598-6.1680 region where the 21-DMA is located. Bulls need to see a close above Cnh6.2053 to reconfirm the recent bullish bias, shifting immediate focus to the Cnh6.2172-2360 region and overall focus to 2014 highs. O/S daily studies remain the key concern for bulls.
RES 4: Cnh6.2567 – 200-WMA
RES 3: Cnh6.2360 – High June 18
RES 2: Cnh6.2172 – High July 16
RES 1: Cnh6.2053 – High Dec 9
LPRICE: Cnh6.2010
SUP 1: Cnh6.1855 – Low Dec 12
SUP 2: Cnh6.1680 – High Dec 1 now support
SUP 3: Cnh6.1598 – High Dec 5 now support
SUP 4: Cnh6.1445 – Low Dec 3
The Php44-870 resistance level remains key with bulls needing a close above to confirm breaks of 21 & 55-DMAs and Ichimoku cloud top, and to shift immediate focus back to the Nov monthly high. While Php44.870 caps bears retain the upper hand with focus remaining on the Php44.276-470 region where 100 & 200-DMAs are located. The key concern for bears comes from correcting O/S daily studies which are likely to support on dips.
RES 4: Php45.150 – Monthly High Nov 20
RES 3: Php44.985 – High Nov 25
RES 2: Php44.905 – Ichimoku cloud top
RES 1: Php44.870 – High Dec 16
LPRICE: Php44.717
SUP 1: Php44.470 – Low Dec 11
SUP 2: Php44.387 – 100-DMA
SUP 3: Php44.360 – Low Apr 14
SUP 4: Php44.276 – 200-DMA
The Thb32.69-73 region confirmed significance as support with USD/THB having bounced from this region. The close above the Thb32.91 previous resistance level reconfirmed a bullish bias and sees overall focus having returned to the Thb32.10-22 region. The Bollinger band top is currently limiting topside follow and remains the key concern for bulls. In saying that, bears now need a close below Thb32.86 to ease bullish pressure.
RES 4: Thb33.22 – High Feb 22 2010
RES 3: Thb33.13 – 2014 High Jan 6
RES 2: Thb33.10 – High Dec 8
RES 1: Thb33.01 – Bollinger band top
LPRICE: Thb32.95
SUP 1: Thb32.86 – Low Dec 17
SUP 2: Thb32.73 – Low Dec 11
SUP 3: Thb32.69 – Low Nov 10
SUP 4: Thb32.68 – Bollinger band base
Strong gains continued for USD/IDR Tuesday with the rally to fresh 2014 and record highs seeing immediate focus shift to Fibonacci projections in the Idr13252-452 region. In saying that, the lack of topside follow through above the Bollinger band top, very O/B daily studies and a relatively bearish close place some doubt around the rally. Bears need a close below Idr12550 to ease bullish pressure and below
Idr12455 to shift focus back to the Idr12192-290 regio
RES 4: Idr13452 – 1.618 Fibonacci projection 12085-12930
RES 3: Idr13352 – 1.500 Fibonacci projection 12085-12930
RES 2: Idr13252 – 1.382 Fibonacci projection 12085-12930
RES 1: Idr12930 – 2014 High Dec 16
LPRICE: Idr12657
SUP 1: Idr12550 – Low Dec 15
SUP 2: Idr12455 – High Dec 12 now support
SUP 3: Idr12365 – High Dec 8 now support
SUP 4: Idr12290 – Low Dec 5