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Free AccessMNI Dollar-Asia Morning FX Technical Analysis
2 March 2018
By Kyle Shortland
Please click on this link to access MNI's daily Dollar-Asia FX Technical
Analysis Pdf http://tinyurl.com/pzkomnu
DOLLAR-SING TECHS: Topside Follow Through Lacking
*RES 4: Sgd1.3366 - Daily Bear channel top (off 2017 high)
*RES 3: Sgd1.3339 - High Feb 9
*RES 2: Sgd1.3284 - High Mar 1
*RES 1: Sgd1.3253 - 55-DMA
*PRICE: Sgd1.3229 @ 2300GMT
*SUP 1: Sgd1.3212 - High Feb 26 now support
*SUP 2: Sgd1.3184 - Hourly resistance Feb 26 now support
*SUP 3: Sgd1.3140 - Low Feb 27
*SUP 4: Sgd1.3052 - Low Feb 16
*COMMENTARY: Follow through on the pop above the 55-DMA and bear channel top
(Sgd1.3264) was lacking with the pair looking a little heavy and pressure back
on the Sgd1.3212 support. Bears need a close below this level to hint at a move
initially targeting 2018 lows (Sgd1.3000) with below Sgd1.3140 to confirm. The
Sgd1.3284 resistance is now key. Bulls need a close above to confirm a break of
the 55-DMA and to shift focus to Sgd1.3339-1.3415.
DOLLAR-WON TECHS: Bulls Need Close Above Bear Channel Top
*RES 4: Krw1108.3 - Low Nov 1 now resistance
*RES 3: Krw1098.4 - 2018 High Feb 6
*RES 2: Krw1089.0 - Daily Bear channel top off Sept High
*RES 1: Krw1087.9 - 100-DMA
*PRICE: Krw1081.9 @ 2300GMT
*SUP 1: Krw1078.8 - 21-DMA
*SUP 2: Krw1067.8 - Low Feb 27
*SUP 3: Krw1060.9 - Low Feb 16
*SUP 4: Krw1054.7 - 2018 Low Jan 15
*COMMENTARY: The 100-DMA reconfirmed significance as resistance having so far
capped the recovery from Feb lows. Bulls need a close above the bear channel top
to confirm a break of the 100-DMA and hint at a move back to Krw1108.3-1121.8
where the 200-DMA (Krw1109.8) is found. The 21-DMA is initial support with bears
needing a close below to ease pressure on resistance layers. Below Krw1067.8 is
needed to confirm initial focus on retests of 2018 lows.
DOLLAR-MYR TECHS: Bulls Need Weekly Close Above 200-WMA
*RES 4: Myr3.9830 - Alternating daily support/resistance
*RES 3: Myr3.9618 - 55-DMA
*RES 2: Myr3.9587 - 200-WMA
*RES 1: Myr3.9420 - High Jan 22
*PRICE: Myr3.9270 @ 2300GMT
*SUP 1: Myr3.8800 - Low Feb 2
*SUP 2: Myr3.8630 - 2018 Low Jan 29
*SUP 3: Myr3.8470 - 2016 Low Apr 13
*SUP 4: Myr3.8180 - High July 30 2015 now support
*COMMENTARY: The 200-WMA has capped since the close below in Jan. Bulls look for
a weekly close above the 200-WMA to ease bearish pressure and above Myr3.9830 to
confirm a break of the 55-DMA (Myr3.9618) and shift initial focus to
Myr4.0260-0531 where the 100-DMA is noted. While the 200-WMA caps, bears
initially focus on the 2018 low with a close below to target Myr3.8180.
DOLLAR-CNH TECHS: Bears Need Close Below 21-DMA
*RES 4: Cnh6.4140 - Low Nov 25 2015, Low Jan 15 & 17
*RES 3: Cnh6.4134 - 55-DMA
*RES 2: Cnh6.3870 - Low Jan 19 now resistance
*RES 1: Cnh6.3773 - High Feb 8
*PRICE: Cnh6.3472 @ 2300GMT
*SUP 1: Cnh6.3176 - 21-DMA
*SUP 2: Cnh6.2867 - Low Feb 27
*SUP 3: Cnh6.2678 - Low Feb 16
*SUP 4: Cnh6.2548 - 2018 Low Feb 7
*COMMENTARY: Time spent below the 21-DMA was brief with the 21-DMA now noted as
initial support. Bulls need a close above Cnh6.3870 to hint at a shift higher in
focus with above Cnh6.4140 needed to confirm a break of the 55-DMA and initially
target Cnh6.4475-6.4657. Bears now need a close below the 21-DMA to gain
breathing room and return initial focus to retests of 2018 lows.
DOLLAR-PHP TECHS: Php51.400-639 Support Key
*RES 4: Php52.560 - Low July 18 2006 now resistance
*RES 3: Php52.501 - 2018 High Feb 19
*RES 2: Php52.380 - High Feb 20
*RES 1: Php52.176 - High Feb 22
*PRICE: Php51.879 @ 2300GMT
*SUP 1: Php51.639 - Low Feb 23
*SUP 2: Php51.400 - Low Feb 9
*SUP 3: Php51.030 - Low Feb 7
*SUP 4: Php50.990 - 55-DMA
*COMMENTARY: Failure to trouble 2018 highs on the recovery from Php61.639 leaves
the pair looking a little heavy. In saying that, bears still need a close below
Php61.639 to confirm an easing of bullish pressure and below Php51.400 to
confirm a shift in immediate focus back to Php50.607-51.030 where key DMAs are
clustered. Bulls now need a close above 2018 highs to reconfirm a bullish bias
and target Php52.850 July 2006 monthly highs.
DOLLAR-THB TECHS: Below 2018 Lows Initially Targets Thb30.80-94
*RES 4: Thb31.92 - High Feb 8
*RES 3: Thb31.88 - 55-DMA
*RES 2: Thb31.74 - High Feb 12
*RES 1: Thb31.65 - High Feb 22
*PRICE: Thb31.49 @ 2300GMT
*SUP 1: Thb31.16 - 2018 Low Feb 16, Low Nov 6 2013
*SUP 2: Thb30.94 - LT Bear channel base
*SUP 3: Thb30.80 - Monthly Low July 24 2013
*SUP 4: Thb30.42 - Low June 14 2013
*COMMENTARY: Sideways trading continues. Bears look for a close below 2018 lows
to reconfirm focus on the Thb30.80-94 region where the LT bear channel base and
July 2013 monthly low are situated. Layers of resistance remain in place. Bulls
now look for a close above Thb31.92 to confirm a break of the 55-DMA and to
shift focus to Thb32.28-58 where the LT bear channel top and 100-DMA are
located.
DOLLAR-IDR TECHS: Layers Of Support Idr13605-688 Key
*RES 4: Idr13885 - High Feb 3 2016
*RES 3: Idr13820 - Daily Bull channel top
*RES 2: Idr13800 - 2018 High Mar 1
*RES 1: Idr13767 - Bollinger band top
*PRICE: Idr13745 @ 2300GMT
*SUP 1: Idr13688 - High Feb 22 now support
*SUP 2: Idr13667 - Daily Bull channel base off 2018 low
*SUP 3: Idr13640 - Low Feb 26
*SUP 4: Idr13605 - 21-DMA
*COMMENTARY: The lack of topside follow through on 2018 & 2+yr highs is a
concern for bulls given O/B studies looking to correct and the Bollinger band
top limiting follow through. Layers of support Idr13605-688 are seen as key.
Bears look for a close below the 21-DMA to end bullish hopes and shift immediate
focus back to Idr13505-530 where 55 & 100-DMAs are situated. Bulls remain
focused on the IDr13820-885 resistance region while Idr13688 supports.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.