MNI Dollar-Asia Morning FX Technical Analysis

5 March 2018

By Kyle Shortland

DOLLAR-SING TECHS: Sgd1.3140 Support Now Key

*RES 4: Sgd1.3339 - High Feb 9 

*RES 3: Sgd1.3284 - High Mar 1 

*RES 2: Sgd1.3239 - Hourly resistance Mar 2 

*RES 1: Sgd1.3202 - 21-DMA

*PRICE: Sgd1.3184 @ 2300GMT

*SUP 1: Sgd1.3140 - Low Feb 27 

*SUP 2: Sgd1.3052 - Low Feb 16 

*SUP 3: Sgd1.3013 - 2018 Low Jan 25 

*SUP 4: Sgd1.3000 - Monthly Low Dec 16 2014

*COMMENTARY: Follow through on the pop above the 55-DMA and bear channel top

(Sgd1.3259) was lacking with the pair looking a little heavy and pressure back

on the Sgd1.3140 support. Bears need a close below this level confirm focus on a

move initially targeting Sgd1.2995-1.3013. The Sgd1.3284 resistance remains key.

Bulls need a close above to confirm a break of the 55-DMA (Sgd1.3243) 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: Krw1088.4 - Daily Bear channel top off Sept High

*RES 1: Krw1086.9 - 100-DMA

*PRICE: Krw1076.2 @ 2300GMT

*SUP 1: Krw1072.9 - 55-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 (Krw1109.4) is found. The close below the 21-DMA Friday adds

weight to the bearish case with a close below Krw1067.8 now needed to confirm

initial focus on retests of 2018 lows.

     DOLLAR-MYR TECHS: Bulls Need Weekly Close Above 200-WMA

*RES 4: Myr4.0050 - High Jan 11 

*RES 3: Myr3.9830 - Alternating daily support/resistance 

*RES 2: Myr3.9586 - 200-WMA, 55-DMA 

*RES 1: Myr3.9420 - High Jan 22

*PRICE: Myr3.9020 @ 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 close above the 200-WMA to ease bearish pressure and above Myr3.9830 to

confirm a break of the 55-DMA (Myr3.9586) and shift initial focus to

Myr4.0260-0499 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: 21-DMA Support Now Key

*RES 4: Cnh6.4140 - Low Nov 25 2015, Low Jan 15 & 17 

*RES 3: Cnh6.4033 - 55-DMA 

*RES 2: Cnh6.3870 - Low Jan 19 now resistance 

*RES 1: Cnh6.3773 - High Feb 8

*PRICE: Cnh6.3291 @ 2300GMT

*SUP 1: Cnh6.3202 - 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: Php51.950 @ 2300GMT

*SUP 1: Php51.639 - Low Feb 23 

*SUP 2: Php51.400 - Low Feb 9 

*SUP 3: Php51.030 - Low Feb 7 

*SUP 4: Php50.992 - 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: Thb31.86 - 55-DMA 

*RES 2: Thb31.74 - High Feb 12 

*RES 1: Thb31.65 - High Feb 22

*PRICE: Thb31.42 @ 2300GMT

*SUP 1: Thb31.16 - 2018 Low Feb 16, Low Nov 6 2013 

*SUP 2: Thb30.93 - 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 Thb30.80-93 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: Idr13901 - Daily Bull channel top 

*RES 3: Idr13885 - High Feb 3 2016 

*RES 2: Idr13800 - 2018 High Mar 1 

*RES 1: Idr13773 - Bollinger band top

*PRICE: Idr13755 @ 2300GMT

*SUP 1: Idr13688 - High Feb 22 now support 

*SUP 2: Idr13683 - Daily Bull channel base off 2018 low 

*SUP 3: Idr13640 - Low Feb 26 

*SUP 4: Idr13621 - 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 Idr13621-688 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]