MNI Dollar-Asia Morning FX Technical Analysis

19 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: Bulls Need Close Above Sgd1.3214

*RES 4: Sgd1.3284 - High Mar 1 

*RES 3: Sgd1.3214 - High Mar 5 

*RES 2: Sgd1.3209 - Daily Bear channel top off Oct high 

*RES 1: Sgd1.3193 - 55-DMA

*PRICE: Sgd1.3143 @ 2300GMT

*SUP 1: Sgd1.3145 - High Mar 13 now support 

*SUP 2: Sgd1.3077 - Low Mar 14 

*SUP 3: Sgd1.3052 - Low Feb 16 

*SUP 4: Sgd1.3004 - 2018 Low Jan 25

*COMMENTARY: The Bollinger band base has confirmed significance, limiting follow

through and providing the base for a bounce back to layers of resistance

Sgd1.3193-1.3214. Bulls continue to loo for a close above Sgd1.3214 to ease

bearish pressure and shift focus to Sgd1.3284-1.3369. Initial support is now

noted at Sgd1.3145 with bears needing a close below to ease pressure on

resistance layers and below Sgd1.3077 to target $1.3000-04.

     DOLLAR-WON TECHS: Remains Capped Around 21 & 55-DMAs

*RES 4: Krw1087.6 - High Mar 1

*RES 3: Krw1082.9 - Daily Bear channel top off Sept high

*RES 2: Krw1080.8 - 100-DMA

*RES 1: Krw1071.9 - 21-DMA

*PRICE: Krw1068.4 @ 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: Krw1028.5 - Daily Bear channel base

*COMMENTARY: Modestly O/S studies appear to be impacting with the pair finding

support ahead of Mar 6 lows. The 21 & 55-DMAs remain initial resistance. Bulls

need a close above these DMAs to gain breathing room although a close above

Krw1087.6 is needed to confirm breaks of the 100-DMA and bear channel top

shifting initial focus to 2018 highs. Bears remain focused on 2018 lows and then

bear channel base below while 21 & 55-DMAs cap.

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

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

*RES 3: Myr3.9654 - 200-WMA 

*RES 2: Myr3.9420 - High Jan 22 

*RES 1: Myr3.9282 - 55-DMA

*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: 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 Myr4.0177-0450 where the 100-DMA

(Myr4.0177) 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: Narrowing Bollis Hint At Breakout

*RES 4: Cnh6.3870 - Low Jan 19 now resistance 

*RES 3: Cnh6.3773 - High Feb 8 

*RES 2: Cnh6.3621 - 55-DMA 

*RES 1: Cnh6.3526 - High Mar 9

*PRICE: Cnh6.3258 @ 2300GMT

*SUP 1: Cnh6.3000 - Bollinger band base

*SUP 2: Cnh6.2985 - Low Mar 15

*SUP 3: Cnh6.2867 - Low Feb 27

*SUP 4: Cnh6.2678 - Low Feb 16

*COMMENTARY: The Cnh6.3526-3870 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 Cnh6.3526 caps initial bearish focus remains on retests of

2018 lows with a close below Cnh6.2985 needed to add weight to their case.

     DOLLAR-PHP TECHS: Looking A Little Heavy

*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: Php51.900 @ 2300GMT

*SUP 1: Php51.736 - Bollinger band base 

*SUP 2: Php51.639 - Low Feb 23 

*SUP 3: Php51.400 - Low Feb 9 

*SUP 4: Php51.344 - 55-DMA

*COMMENTARY: Initial resistance remains 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. The break of Php51.872 has

so far lacked follow through although focus shifts to Php51.344-639 where the

55-DMA is located. Below the 55-DMA targets 100 & 200-DMAs.

     DOLLAR-THB TECHS: Bulls Now Need Close Above 21-DMA

*RES 4: Thb31.65 - High Feb 22 

*RES 3: Thb31.60 - 55-DMA 

*RES 2: Thb31.35 - 21-DMA 

*RES 1: Thb31.25 - Low Mar 6 now resistance

*PRICE: Thb31.22 @ 2300GMT

*SUP 1: Thb31.07 - 2018 Low Mar 14 

*SUP 2: Thb30.81 - LT Bear channel base 

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

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

*COMMENTARY: The pair has remained capped ahead of the 21-DMA in recent weeks

with pressure resulting in fresh 2018 & 4+yr lows. Bear currently focus on

Thb30.80-81 where July 2013 monthly lows and the LT bear channel base are

situated. The Bollinger base (Thb31.13) is the key concern for bears and limits

follow through. Bulls need a close above the 21-DMA to ease bearish pressure and

hint at a correction to Thb31.60-74.

     DOLLAR-IDR TECHS: Bears Need Close Below Idr13688

*RES 4: Idr13926 - TL off 2018 High 

*RES 3: Idr13885 - High Feb 3 2016 

*RES 2: Idr13846 - Bollinger band top 

*RES 1: Idr13800 - 2018 High Mar 1

*PRICE: Idr13745 @ 2300GMT

*SUP 1: Idr13707 - 21-DMA 

*SUP 2: Idr13688 - High Feb 22 now support 

*SUP 3: Idr13640 - Low Feb 26 

*SUP 4: Idr13618 - High Feb 21 now support

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

daily bull channel base leaving the pair looking a little heavy. Bears still

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

focus back to Idr13530-544 where 55 & 100-DMAs are situated. Bulls continue to

look for a close above 2018 highs to regain control and return focus to

Idr13885-13915.

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

[TOPICS: MTABLE]