MNI Dollar-Asia Morning FX Technical Analysis

7 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: 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: Sgd1.3214 - High Mar 5

*PRICE: Sgd1.3162 @ 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

(Sgd1.3249) was lacking with the pair looking a little heavy and pressure 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 (Sgd1.3237) and to

shift focus to Sgd1.3339-1.3415.

     DOLLAR-WON TECHS: Overall Focus On Bear Channel Base

*RES 4: Krw1087.3 - Daily Bear channel top off Sept high

*RES 3: Krw1086.2 - 100-DMA

*RES 2: Krw1072.6 - 55-DMA

*RES 1: Krw1067.8 - Low Feb 27 now resistance

*PRICE: Krw1062.4 @ 2300GMT

*SUP 1: Krw1060.2 - Bollinger band base

*SUP 2: Krw1054.7 - 2018 Low Jan 15

*SUP 3: Krw1045.6 - Monthly Low Oct 29 2014

*SUP 4: Krw1033.4 - Daily Bear channel base

*COMMENTARY: The 100-DMA reconfirmed significance as resistance having so far

capped the recovery from Feb lows. Topside hesitation has taken its toll with an

aggressive sell-off and bearish close that sees immediate focus on 2018 lows and

overall focus on the bear channel base around Krw1033.4. Daily studies have room

to move but the Bollinger base is a concern and currently limits follow through.

Bulls now need a close above the 55-DMA to ease bearish pressure.

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

*RES 4: Myr3.9619 - 200-WMA 

*RES 3: Myr3.9522 - 55-DMA 

*RES 2: Myr3.9420 - High Jan 22 

*RES 1: Myr3.9111 - 21-DMA

*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 (Myr3.9522) and shift initial focus to

Myr4.0260-0450 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: Immediate Focus On Cnh6.2548-2867

*RES 4: Cnh6.3980 - 55-DMA 

*RES 3: Cnh6.3870 - Low Jan 19 now resistance 

*RES 2: Cnh6.3773 - High Feb 8 

*RES 1: Cnh6.3204 - 21-DMA

*PRICE: Cnh6.3109 @ 2300GMT

*SUP 1: Cnh6.2867 - Low Feb 27

*SUP 2: Cnh6.2800 - Bollinger band base

*SUP 3: Cnh6.2678 - Low Feb 16

*SUP 4: Cnh6.2548 - 2018 Low Feb 7

*COMMENTARY: Pressure on the 21-DMA has taken its toll with a break and close

below that returns immediate focus to Cnh6.2548-2867 where 2018 lows are

situated. Daily studies are well placed for a fresh leg lower. Bulls now need a

close above the 21-DMA to gain breathing room and return focus to Cnh6.3773-4140

where the 55-DMA is situated.

     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: Php52.120 - High Mar 1

*PRICE: Php51.917 @ 2300GMT

*SUP 1: Php51.639 - Low Feb 23 

*SUP 2: Php51.400 - Low Feb 9 

*SUP 3: Php51.050 - 55-DMA 

*SUP 4: Php51.030 - Low Feb 7

*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 Php50.607-51.050 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 Thb30.80-91

*RES 4: Thb31.92 - High Feb 8 

*RES 3: Thb31.83 - 55-DMA 

*RES 2: Thb31.74 - High Feb 12 

*RES 1: Thb31.65 - High Feb 22

*PRICE: Thb31.28 @ 2300GMT

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

*SUP 2: Thb30.91 - 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 Thb30.80-91 region where the LT bear channel base and

July 2013 monthly low are situated. Layers of resistance remain in place. Bulls

continue to look for a close above Thb31.92 to confirm a break of the 55-DMA and

to shift focus to Thb32.24-58 where the LT bear channel top and 100-DMA

(Thb32.30) are located. 

     DOLLAR-IDR TECHS: Layers Of Support Idr13618-714 Key

*RES 4: Idr13932 - Daily Bull channel top 

*RES 3: Idr13885 - High Feb 3 2016 

*RES 2: Idr13800 - 2018 High Mar 1 

*RES 1: Idr13791 - Bollinger band top

*PRICE: Idr13770 @ 2300GMT

*SUP 1: Idr13714 - Daily Bull channel base off 2018 Low 

*SUP 2: Idr13688 - High Feb 22 now support 

*SUP 3: Idr13640 - Low Feb 26 

*SUP 4: Idr13618 - High Feb 21 now support

*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 Idr13618-714 are seen as key.

Bears look for a close below Idr13618 to end bullish hopes and shift immediate

focus back to Idr13516-530 where 55 & 100-DMAs are situated. Bulls remain

focused on the Idr13800-932 resistance region while Idr13688 supports.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]