MNI Dollar-Asia Morning FX Technical Analysis

14 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 Focused On Sgd1.3000-52 Region

*RES 4: Sgd1.3224 - Daily Bear channel top 

*RES 3: Sgd1.3214 - High Mar 5 

*RES 2: Sgd1.3210 - 55-DMA 

*RES 1: Sgd1.3151 - Hourly resistance Mar 12

*PRICE: Sgd1.3124 @ 2300GMT

*SUP 1: Sgd1.3085 - Bollinger band base

*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: Hesitation ahead of the 55-DMA and daily bear channel top off Oct

highs has taken its toll with the close below Sgd1.3131 reconfirming bearish

focus on Sgd1.3000-52 where 2018 lows are situated. The Bollinger base is the

key concern for bears with potential to limit follow through. Initial resistance

is noted at Sgd1.3151 but bulls need a close above the bear channel top to ease

bearish pressure and shift focus to Sgd1.3284-1.3369.

     DOLLAR-WON TECHS: 21-DMA Continues To Cap

*RES 4: Krw1087.6 - High Mar 1

*RES 3: Krw1084.6 - Daily Bear channel top off Sept high

*RES 2: Krw1083.1 - 100-DMA

*RES 1: Krw1073.5 - 21-DMA

*PRICE: Krw1065.9 @ 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: Krw1030.6 - 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 Krw1030.6. 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 and above Krw1087.6 to shift focus higher.

     DOLLAR-MYR TECHS: Above Myr3.9420 To Ease Bearish Pressure

*RES 4: Myr3.9830 - Alternating daily support/resistance 

*RES 3: Myr3.9653 - 200-WMA 

*RES 2: Myr3.9420 - High Jan 22 

*RES 1: Myr3.9365 - 55-DMA

*PRICE: Myr3.8985 @ 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: A close above Myr3.9420 is needed to ease bearish pressure. The

200-WMA has capped since the close below in Jan. Bulls look for a close above

the 200-WMA to hint at a move back to Myr4.0260-0450 where the 100-DMA

(Myr4.0275) is noted with above Myr3.9830 to confirm. 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: Cnh6.3773 - High Feb 8 

*RES 2: Cnh6.3771 - 55-DMA 

*RES 1: Cnh6.3526 - High Mar 9

*PRICE: Cnh6.3265 @ 2300GMT

*SUP 1: Cnh6.3054 - Low Mar 6

*SUP 2: Cnh6.2889 - Bollinger band base

*SUP 3: Cnh6.2867 - Low Feb 27

*SUP 4: Cnh6.2678 - Low Feb 16

*COMMENTARY: The Cnh6.3771-3870 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 Cnh6.3771-3870 caps bears remain focused on retests of

2018 lows with below Cnh6.3054 needed to add weight to their case.

     DOLLAR-PHP TECHS: Php51.872 & Php52.213 Levels Now 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: Php52.213 - High Mar 8

*PRICE: Php51.985 @ 2300GMT

*SUP 1: Php51.872 - Low Mar 13 

*SUP 2: Php51.639 - Low Feb 23 

*SUP 3: Php51.400 - Low Feb 9 

*SUP 4: Php51.233 - 55-DMA

*COMMENTARY: Initial resistance is now noted at Php52.213 with bulls needing a

close above to gain breathing room and reconfirm initial focus on retests of

2018 highs. Daily studies are at neutral levels but narrowing Bollinger bands

increase the risk of a breakout in the near future. Bears look for a close below

Php51.872 to confirm an easing of bullish pressure and below Php51.639 to shift

initial focus back to Php51.233-400 where the 55-DMA is located.

     DOLLAR-THB TECHS: Below 2018 Lows Initially Targets Thb30.80-85

*RES 4: Thb31.92 - High Feb 8 

*RES 3: Thb31.74 - High Feb 12 

*RES 2: Thb31.67 - 55-DMA 

*RES 1: Thb31.65 - High Feb 22

*PRICE: Thb31.23 @ 2300GMT

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

*SUP 2: Thb30.85 - LT Bear channel base 

*SUP 3: Thb30.80 - Monthly Low July 24 2013 

*SUP 4: Thb30.42 - Low June 14 2013

*COMMENTARY: Pressure has returned to 2018 lows. Bears look for a close below to

reconfirm focus on the Thb30.80-85 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. The Bollinger band base (Thb31.18) is the

key concern for bears.

     DOLLAR-IDR TECHS: Closes Below Bull Channel Base

*RES 4: Idr14009 - Daily Bull channel top 

*RES 3: Idr13885 - High Feb 3 2016 

*RES 2: Idr13835 - Bollinger band top 

*RES 1: Idr13800 - 2018 High Mar 1

*PRICE: Idr13765 @ 2300GMT

*SUP 1: Idr13688 - High Feb 22 now support, 21-DMA 

*SUP 2: Idr13640 - Low Feb 26 

*SUP 3: Idr13618 - High Feb 21 now support 

*SUP 4: Idr13539 - 100-DMA

*COMMENTARY: Correcting O/B studies have taken their toll with a close below the

daily bull channel base (Idr14009) leaving the pair looking a little heavy.

Bears now need a close below Idr13688 to shift initial focus to Idr13618-640 and

overall focus back to Idr13530-539 where 55 & 100-DMAs are situated. Bulls now

need a close above 2018 highs to regain control and return focus to

Idr13885-14009.

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

[TOPICS: MTABLE]