USD/SGD is hesitating a little following fresh 2014 and 4+ year highs with bears continuing to look for a close below Sgd1.3177 to ease bullish pressure. Overall bears need a close below Sgd1.3077 to confirm breaks of the channel base and 21-DMA and to shift immediate focus to the Sgd1.2955-00 region where the 55-DMA is located. While Sgd1.3177 supports immediate bullish focus remains on the Sgd1.3385-1.3433 region.
RES 4: Sgd1.3468 – Rising daily trend line projection
RES 3: Sgd1.3412 – Rising daily channel top
RES 2: Sgd1.3295 – High Sept 22 2010
RES 1: Sgd1.3260 – 2014 High Dec 30
LPRICE: Sgd1.3231
SUP 1: Sgd1.3177 – Low Dec 23
SUP 2: Sgd1.3077 – Alternating daily support/resistance
SUP 3: Sgd1.3000 – Low Dec 17
SUP 4: Sgd1.2955 – Low Nov 27
USD/KRW managed a spike above the 21-DMA (Krw1104.0) last week after having recently been capped at this level although dollar-won retreated from the Krw1108.6 resistance. Bulls continue to look for a close above Krw1108.6 to confirm a break the 21-DMA and to shift immediate focus back to the 2014 high with the Bollinger band top noted just below. Bears need a close below Krw1094.3 to confirm bearish pressure with below Krw1080.7 needed to confirm a break of the 55-DMA and target Krw1048.8-1063.3.
RES 4: Krw1121.7 – 2014 High Dec 8
RES 3: Krw1119.0 – Bollinger band top
RES 2: Krw1114.8 – High Dec 9
RES 1: Krw1108.6 – High Dec 10
LPRICE: Krw1099.1
SUP 1: Krw1094.3 – Low Dec 22
SUP 2: Krw1080.7 – Low Dec 17
SUP 3: Krw1074.7 – 61.8% Fibonacci 1045.6-1121.8
SUP 4: Krw1071.5 – Low Nov 3
The pullback from recent 2014 highs has found support around the Myr3.4650 level with this level now seen as key support. Bears look for a close below Myr3.4650 to confirm a break of the 21-DMA and to shift immediate focus to the Myr3.3680-3.4040 support region. While Myr3.4650 supports bulls retain the upper hand with a break above Myr3.5090 targeting Myr3.5480-3.5785.
RES 4: Myr3.5785 – High July 17 2009
RES 3: Myr3.5480 – High Aug 19 2009
RES 2: Myr3.5307 – Bollinger band top
RES 1: Myr3.5090 – High Sept 14 2009
LPRICE: Myr3.4979
SUP 1: Myr3.4650 – Low Dec 18
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
The pullback last week found support at the Cnh6.2041 level with USD/CNH bouncing aggressively from this level Monday to record fresh 6 month highs. The bounce and relatively bullish close confirmed overall focus on the 2014 high with the Bollinger band top and O/B daily studies remaining key concerns for bulls, although the 200-WMA is also likely to slow progress. Bears continue to look for a close below Cnh6.2041 to ease bullish pressure and hint at a deeper correction with below the 200-DMA needed to confirm
RES 4: Cnh6.2709 – Monthly high May 28
RES 3: Cnh6.2633 – Monthly high June 5
RES 2: Cnh6.2533 – 200-WMA
RES 1: Cnh6.2492 – Bollinger band top
LPRICE: Cnh6.2156
SUP 1: Cnh6.2041 – Low Dec 26
SUP 2: Cnh6.1999 – 21-DMA
SUP 3: Cnh6.1855 – Low Dec 12
SUP 4: Cnh6.1680 – High Dec 1 now support
The Php44.870 resistance level remains key with bulls needing a close above to confirm breaks of 21 & 55- DMAs 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 Php44.277-470 region where 100 & 200-DMAs are located. Overall
the Php44.470 & Php44.870 levels are seen as key with breaks of either side dictating direction.
RES 4: Php45.150 – Monthly High Nov 20
RES 3: Php44.985 – High Nov 25
RES 2: Php44.950 – Ichimoku cloud top
RES 1: Php44.870 – High Dec 16
LPRICE: Php44.721
SUP 1: Php44.470 – Low Dec 11
SUP 2: Php44.456 – 100-DMA
SUP 3: Php44.360 – Low Apr 14
SUP 4: Php44.277 – 200-DMA