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Asian Currencies Weekly Technicals

07/08/2014 | Commerzbank

JP Morgan Asia Dollar Index (ADXY): Market has sold off to its 200 day ma which is holding for now. We will maintain a negative bias below 116.64.
USD/SGD: Decent rebound off the 2011-14 uptrend line at 1.2370 has been seen, look for gains to the 55 and 200 week moving averages at 1.2559/73
USD/CNH: Scope remains for losses towards the 200 day ma at 6.1457, but would expect to see stabilisation here.
USD/CNY 1 Year NDF: Contained in range 6.20-6.2750
USD/CNY 1 Month NDF: Sidelined but attention on the 6.1885/6.1915 resistance.
USD/IDR 1 Month NDF: Continues to bounces strongly off the 55 week moving average at 11567
USD/INR 1 Month NDF: Testing resistance at 61.98
USD/KRW 1 Month NDF: Market remains bid above the 55 day ma at 1023.51 and we look for gains towards the 200 day ma at 1049.67
USD/MYR 1 Month NDF: Market is approaching the 2014 downtrend at 3.234
USD/PHP 1 Month NDF: Has completed a falling wedge and shot higher towards the 200 day ma at 44.2287
USD/TWD 1 Month NDF: Market has stalled on initial test of 230.09 June high. Suspect is trying to base BUT more work to do

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