After remaining capped ahead of the 21-DMA last week USD/SGD took out and closed below previous initial support on Monday further confirming initial focus on the 2014 low. Bulls need to see a close above the 55-DMA to confirm a break of the 21-DMA and falling daily trend line which then sees focus shift to the Sgd1.2569 level where 200 & 100-DMA’s are noted. Fresh 2014 lows see focus shift to the Sgd1.2268-1.2342 region.
RES 4: Sgd1.2545 – High June 18
RES 3: Sgd1.2518 – 55-DMA
RES 2: Sgd1.2499 – 21-DMA
RES 1: Sgd1.2477 – High July 1
LPRICE: Sgd1.2456
SUP 1: Sgd1.2450 – 2014 low Apr 9
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
USD/KRW consolidated at the lower end of Monday’s range with the relatively bearish close weighing. Initial resistance is noted at Krw1015.5 with bulls needing a close above to ease bearish pressure a little. Layers of resistance remain Krw1021.4-1030.1 with bulls needing a close above Krw1030.1 to end bearish hopes and hint at a move back to the Krw1042.0-1050.6 region. Bears continue to focus on sub Krw1000.0 levels last seen in 2008.
RES 4: Krw1026.7 – 55-DMA
RES 3: Krw1025.9 – High June 3
RES 2: Krw1021.4 – High June 25
RES 1: Krw1015.5 – Previous daily support now resistance
LPRICE: Krw1011.4
SUP 1: Krw1010.8 – 2014 Low June 30
SUP 2: Krw995.6 – Monthly low July 10 2008
SUP 3: Krw971.3 – Monthly Low Apr 7 2008
SUP 4: Krw955.9 – Low Mar 7 2008
Lower levels resumed for USD/MYR Tuesday with the immediate focus firmly on fresh 2014 lows while Myr3.2205 caps. Bulls continue to look for a close above Thursday’s Myr3.2205 high to ease bearish pressure. Layers of resistance remain in the Myr 3.2300-3.2440 region with bulls needing a close above the 200-DMA to end bearish hopes and shift overall focus to the Myr3.2690 level.
RES 4: Myr3.2350 – High June 18
RES 3: Myr3.2305 – 55-DMA
RES 2: Myr3.2205 – High June 26
RES 1: Myr3.2091 – High July 1
LPRICE: Myr3.2084
SUP 1: Myr3.2010 – Low June 11
SUP 2: Myr3.1940 – 2014 Low June 9
SUP 3: Myr3.1855 – Weekly Bollinger band base
SUP 4: Myr3.1640 – 100-WMA
Fresh 3 month lows for the USD/CNH Tuesday see immediate focus on the 100-DMA today with a close below not seen since late Feb. The 21-WMA comes in just below at Cnh6.1954 today with a close below adding weight to the bearish case seeing focus shift to the 200-DMA (Cnh6.1316). Initial resistance is now noted at Tuesday’s high but it is the Cnh6.2213-6.2361 resistance region that is key with a close above needed to shift focus back to 2014 highs.
RES 4: Cnh6.2632 – High June 5
RES 3: Cnh6.2361 – High June 25
RES 2: Cnh6.2213 – Low June 24 now resistance
RES 1: Cnh6.2080 – High July 1
LPRICE: Cnh6.2033
SUP 1: Cnh6.1967 – 100-DMA
SUP 2: Cnh6.1954 – 21-WMA
SUP 3: Cnh6.1850 – Low Apr 9
SUP 4: Cnh6.1705 – Low Mar 25
The close below php43.730 Monday added weight to the bearish case with bears initially focused on the 2014 low. Fresh 2014 lows then see focus shift to layers of support in the Php42.977-43.180 region which include the 200-WMA (Php42.977). Bulls look for a close above Php43.730 to ease the bearish pressure a little but layers of resistance remain in the Php43.960-44.147 region with a close above to shift focus to the Php44.790 Apr 25 high
RES 4: Php44.147 – 200-DMA
RES 3: Php43.993 – 55-DMA
RES 2: Php43.960 – Low June 18 now resistance
RES 1: Php43.730 – Low June 20 now resistance
LPRICE: Php43.613
SUP 1: Php43.563 – Bollinger band base
SUP 2: Php43.510 – 2014 Low June 9
SUP 3: Php43.470 – Low Nov 14 2013
SUP 4: Php43.180 – Low Nov 8 2013
After having spent the better part of the last three weeks chopping around the 55 & 100-DMA’s and capped by the 21-DMA bearish pressure is starting to take its toll. Pressure remains on initial support at Thb32.35 today with bears targeting a move lower that initially targets the 200-DMA with a close below last seen late May 2013. Bears look for a close below to add weight to the bearish case with immediate focus shifting to the Thb32.05-10 region.
RES 4: Thb32.90 – High June 2
RES 3: Thb32.73 – Previous daily support now resistance
RES 2: Thb32.54 – High June 18
RES 1: Thb32.50 – High June 27
LPRICE: Thb32.35
SUP 1: Thb32.35 – Low June 19
SUP 2: Thb32.29 – Low May 5
SUP 3: Thb32.23 – 200-DMA
SUP 4: Thb32.18 – Low Apr 28
