MNI Dollar-Asia Morning FX Technical Analysis

21 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: Sgd1.3199 - Daily Bear channel top off Oct high 

*RES 1: Sgd1.3189 - 55-DMA

*PRICE: Sgd1.3187 @ 2300GMT

*SUP 1: Sgd1.3137 - Low Mar 20 

*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 confirmed significance, limiting follow

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

Sgd1.3189-1.3214. Bulls continue to look for a close above Sgd1.3214 to ease

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

noted at Sgd1.3137 with bears needing a close below to ease pressure on

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

     DOLLAR-WON TECHS: Bears Need Close Below Krw1067.4

*RES 4: Krw1084.8 - Bollinger band top

*RES 3: Krw1081.8 - Daily Bear channel top off Sept high

*RES 2: Krw1079.9 - 100-DMA

*RES 1: Krw1075.8 - Low Mar 5 now resistance

*PRICE: Krw1070.8 @ 2300GMT

*SUP 1: Krw1067.4 - Low Mar 20

*SUP 2: Krw1059.5 - Low Mar 6

*SUP 3: Krw1054.7 - 2018 Low Jan 15

*SUP 4: Krw1045.6 - Monthly Low Oct 29 2014

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

support ahead of Mar 6 lows. Bulls now need a close above Krw1075.8 to gain

traction above 21 & 55-DMAs and above the bear channel top to hint at a move

back to Krw1098.4 2018 highs. Above Krw1087.6 is needed to confirm. Bears now

need a close below Krw1067.4 to ease bullish pressure and return focus to

Krw1054.7-1068.7. Daily studies are well placed for gains.

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

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

*RES 3: Myr3.9689 - 200-WMA 

*RES 2: Myr3.9420 - High Jan 22 

*RES 1: Myr3.9240 - 55-DMA

*PRICE: Myr3.9150 @ 2300GMT

*SUP 1: Myr3.9083 - 21-DMA 

*SUP 2: Myr3.8800 - Low Feb 2 

*SUP 3: Myr3.8630 - 2018 Low Jan 29 

*SUP 4: Myr3.8470 - 2016 Low Apr 13

*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 Myr4.0113-0450 where the 100-DMA

(Myr4.0113) 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. Below the 21-DMA is needed to gain breathing room.

     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: Cnh6.3560 - 55-DMA 

*RES 1: Cnh6.3526 - High Mar 9

*PRICE: Cnh6.3316 @ 2300GMT

*SUP 1: Cnh6.3166 - Low Mar 20

*SUP 2: Cnh6.3025 - Bollinger band base

*SUP 3: Cnh6.2985 - Low Mar 15

*SUP 4: Cnh6.2867 - Low Feb 27

*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

traction above the 55-DMA, ending bearish hopes and shifting initial focus to

Cnh6.4475-4657. Initial support is now noted at Cnh6.3166 with bears needing a

close below to gain breathing room and retain focus on retests of 2018 lows.

Below Cnh6.2985 is needed to add weight to their case.

     DOLLAR-PHP TECHS: Bulls Need Close Above Php52.213

*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: Php51.979 @ 2300GMT

*SUP 1: Php51.784 - Bollinger band base 

*SUP 2: Php51.639 - Low Feb 23 

*SUP 3: Php51.464 - 55-DMA 

*SUP 4: Php51.400 - Low Feb 9

*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 Php51.400-639 where the

55-DMA is located while Php51.213 caps. Below Php51.400 targets 100 & 200-DMAs.

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

*RES 4: Thb31.65 - High Feb 22 

*RES 3: Thb31.55 - 55-DMA 

*RES 2: Thb31.33 - 21-DMA 

*RES 1: Thb31.28 - High Mar 19

*PRICE: Thb31.19 @ 2300GMT

*SUP 1: Thb31.09 - Bollinger band base 

*SUP 2: Thb31.07 - 2018 Low Mar 14 

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

*SUP 4: Thb30.78 - LT Bear channel base

*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

Thb30.78-80 where July 2013 monthly lows and the LT bear channel base are

situated. The Bollinger base 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 Thb31.55-74.

     DOLLAR-IDR TECHS: Bears Need Close Below Idr13688

*RES 4: Idr13947 - TL off 2018 High 

*RES 3: Idr13885 - High Feb 3 2016 

*RES 2: Idr13828 - Bollinger band top 

*RES 1: Idr13800 - 2018 High Mar 1

*PRICE: Idr13745 @ 2300GMT

*SUP 1: Idr13725 - 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: Bulls take comfort in support emerging ahead of the 21-DMA with

bears needing a close below Idr13688 to confirm a break and to shift initial

focus to Idr13618-640 with overall focus returning to Idr13530-552 where 55 &

100-DMAs are situated. Bulls continue to look for a close above 2018 highs to

regain control and return focus to Idr13885-13947 although the Bollinger top may

slow the move.

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

[TOPICS: MTABLE]