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Free AccessMNI Dollar-Asia Morning FX Technical Analysis
12 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: Bears Dominate While Sgd1.3284 Caps
*RES 4: Sgd1.3284 - High Mar 1
*RES 3: Sgd1.3234 - Daily Bear channel top
*RES 2: Sgd1.3217 - 55-DMA
*RES 1: Sgd1.3214 - High Mar 5
*PRICE: Sgd1.3162 @ 2300GMT
*SUP 1: Sgd1.3131 - Low Mar 8
*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: The break of Sgd1.3140 has so far lacked follow through with the
pair bouncing back towards layers of resistance Sgd1.3214-84 where the 55-DMA
and bear channel top are located. Bulls need a close above Sgd1.3284 to confirm
a break of the 55-DMA and to shift focus to Sgd1.3335-1.3415 where a longer term
bear channel top and 100-DMA are noted. Bears now look for a close below
Sgd1.3131 to target 2018 lows.
DOLLAR-WON TECHS: 21-DMA Continues To Cap
*RES 4: Krw1087.6 - High Mar 1
*RES 3: Krw1085.7 - Daily Bear channel top off Sept high
*RES 2: Krw1083.7 - 100-DMA
*RES 1: Krw1073.2 - 21-DMA
*PRICE: Krw1063.5 @ 2300GMT
*SUP 1: Krw1059.5 - Low Mar 6
*SUP 2: Krw1054.7 - 2018 Low Jan 15
*SUP 3: Krw1045.6 - Monthly Low Oct 29 2014
*SUP 4: Krw1031.7 - 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 closes that sees immediate focus on 2018 lows
and overall focus on the bear channel base around Krw1031.7. Daily studies have
room to move before O/S becomes an issue. Bulls still need a close above the
21-DMA to ease bearish pressure.
DOLLAR-MYR TECHS: Bulls Need Weekly Close Above 200-WMA
*RES 4: Myr3.9830 - Alternating daily support/resistance
*RES 3: Myr3.9620 - 200-WMA
*RES 2: Myr3.9431 - 55-DMA
*RES 1: Myr3.9420 - High Jan 22
*PRICE: Myr3.9070 @ 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 shift
initial focus to Myr4.0260-0450 where the 100-DMA (Myr4.0342) is noted. While
the 200-WMA caps, bears initially focus on the 2018 low with a close below still
needed to target Myr3.8180.
DOLLAR-CNH TECHS: Cnh6.3773-3870 Resistance Remains Key
*RES 4: Cnh6.3870 - Low Jan 19 now resistance
*RES 3: Cnh6.3852 - 55-DMA
*RES 2: Cnh6.3773 - High Feb 8
*RES 1: Cnh6.3526 - High Mar 9
*PRICE: Cnh6.3255 @ 2300GMT
*SUP 1: Cnh6.3054 - Low Mar 6
*SUP 2: Cnh6.2867 - Low Feb 27
*SUP 3: Cnh6.2857 - Bollinger band base
*SUP 4: Cnh6.2678 - Low Feb 16
*COMMENTARY: The Cnh6.3773-3870 resistance region where the 55-DMA is located
remains key. Bulls continue to look for a close above Cnh6.3870 to confirm a
break of the 55-DMA, ending bearish hopes and shifting initial focus to
Cnh6.4475-4657. While the resistance region caps bears remain focused on retests
of 2018 lows with below Cnh6.3054 needed to add weight to their case.
DOLLAR-PHP TECHS: Php51.400-639 Support Remains Key
*RES 4: Php52.850 - Monthly High July 18 2006
*RES 3: Php52.560 - Low July 18 2006 now resistance
*RES 2: Php52.501 - 2018 High Feb 19
*RES 1: Php52.380 - High Feb 20
*PRICE: Php51.957 @ 2300GMT
*SUP 1: Php51.639 - Low Feb 23
*SUP 2: Php51.400 - Low Feb 9
*SUP 3: Php51.157 - 55-DMA
*SUP 4: Php51.030 - Low Feb 7
*COMMENTARY: Bulls take comfort in support emerging on dips with the
Php51.400-639 support region key. Bears 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 Php50.607-51.157 where key DMAs are clustered. Bulls
still 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 Thb30.80-87
*RES 4: Thb31.92 - High Feb 8
*RES 3: Thb31.74 - High Feb 12
*RES 2: Thb31.73 - 55-DMA
*RES 1: Thb31.65 - High Feb 22
*PRICE: Thb31.29 @ 2300GMT
*SUP 1: Thb31.16 - 2018 Low Feb 16, Low Nov 6 2013
*SUP 2: Thb30.87 - LT Bear channel base
*SUP 3: Thb30.80 - Monthly Low July 24 2013
*SUP 4: Thb30.42 - Low June 14 2013
*COMMENTARY: Lackluster trading continues. Bears look for a close below 2018
lows to reconfirm focus on the Thb30.80-87 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 Thb31.74 to confirm a break of the 55-DMA and
to shift initial focus to Thb31.92-32.06. Daily studies are at neutral levels
and providing few clues.
DOLLAR-IDR TECHS: Layers Of Support Idr13618-688 Key
*RES 4: Idr13978 - Daily Bull channel top
*RES 3: Idr13885 - High Feb 3 2016
*RES 2: Idr13814 - Bollinger band top
*RES 1: Idr13800 - 2018 High Mar 1
*PRICE: Idr13777 @ 2300GMT
*SUP 1: Idr13760 - 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: Bulls take comfort as the pair distances itself from the
Idr13618-688 support region where the 21-DMA (Idr13677) is noted. Bears look for
a close below the 21-DMA to ease bullish pressure and below Idr13618 to shift
focus back to 55 & 100-DMAs Idr13527-534. Bulls remain focused on the daily bull
channel top while the 21-DMA supports. Daily studies correcting from O/B are the
key concern for bulls.
--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.