MNI Dollar-Asia Morning FX Technical Analysis

22 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: Focus Back On Sgd1.3000-04

*RES 4: Sgd1.3214 - High Mar 5 

*RES 3: Sgd1.3194 - Daily Bear channel top off Oct high 

*RES 2: Sgd1.3186 - 55-DMA 

*RES 1: Sgd1.3159 - Hourly support Mar 21 now resistance

*PRICE: Sgd1.3187 @ 2300GMT

*SUP 1: Sgd1.3077 - Low Mar 14 

*SUP 2: Sgd1.3052 - Low Feb 16 

*SUP 3: Sgd1.3004 - 2018 Low Jan 25 

*SUP 4: Sgd1.3000 - Monthly Low Dec 16 2014

*COMMENTARY: Topside hesitation ahead of the 55-DMA and bear channel top have

taken their toll with the close below Sgd1.3137 returning focus to Sgd1.3000-04

where 2018 lows are situated. Daily studies are well placed for a fresh leg

lower. Bulls now need a close above Sgd1.3159 to ease bearish pressure and above

Sgd1.3214 to shift focus to Sgd1.3284-1.3369. The Bollinger base (Sgd1.3086)

remains the key concern for bears.

     DOLLAR-WON TECHS: Focus Back on 2018 Low

*RES 4: Krw1081.2 - Daily Bear channel top off Sept high

*RES 3: Krw1079.4 - 100-DMA

*RES 2: Krw1075.8 - Low Mar 5 now resistance

*RES 1: Krw1067.4 - Low Mar 20 now resistance

*PRICE: Krw1070.8 @ 2300GMT

*SUP 1: Krw1059.5 - Low Mar 6

*SUP 2: Krw1057.9 - Bollinger band base

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

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

*COMMENTARY: The pair failed to gain traction above 21 & 55-DMAs with the close

below Krw1067.4 easing bullish pressure and retuning focus to Krw1054.7-1059.5

where 2018 lows and the Bollinger base are located. Below 2018 lows is needed to

target the bear channel base (Krw1027.3). Bulls continue to look for a close

above the bear channel top to hint at a move back to Krw1098.4 2018 highs. Above

Krw1087.6 is needed to confirm.

     DOLLAR-MYR TECHS: Marginal Close Above 55-DMA

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

*RES 3: Myr3.9690 - 200-WMA 

*RES 2: Myr3.9420 - High Jan 22 

*RES 1: Myr3.9252 - Bollinger band top

*PRICE: Myr3.9240 @ 2300GMT

*SUP 1: Myr3.9093 - 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: The first close above the 55-DMA (Myr3.9224) since early Nov,

albeit marginal, adds support to the bullish case. A close above Myr3.9420 is

still needed to hint at a move back to Myr3.9830 and above the 200-WMA to

confirm. The 21-DMA remains initial support. Bears need a close below the 21-DMA

to ease bullish pressure and return initial focus to Myr3.8630-8880 where 2018

lows are found.

     DOLLAR-CNH TECHS: Bears Need Close Below Cnh6.2985

*RES 4: Cnh6.3526 - High Mar 9 

*RES 3: Cnh6.3521 - 55-DMA 

*RES 2: Cnh6.3383 - High Mar 19 

*RES 1: Cnh6.3166 - Low Mar 20 now resistance

*PRICE: Cnh6.3044 @ 2300GMT

*SUP 1: Cnh6.2985 - Low Mar 15

*SUP 2: Cnh6.2970 - Bollinger band base

*SUP 3: Cnh6.2867 - Low Feb 27

*SUP 4: Cnh6.2678 - Low Feb 16

*COMMENTARY: The pair has remained capped ahead of Cnh6.3521-26 where the 55-DMA

is located with focus back on Cnh6.2985. Bears continue to look for a close

below this support to shift focus back to tests of 2018 lows (Cnh6.2548). The

Bollinger base is the key concern for bears with potential to limit follow

through. Bulls now need a close above Cnh6.3526 to confirm a break of the 55-DMA

and shift initial focus to Cnh6.3773-3870.

     DOLLAR-PHP TECHS: Topside Follow Through Lacking

*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: Php52.235 - High Mar 21

*PRICE: Php52.072 @ 2300GMT

*SUP 1: Php51.786 - Bollinger band base 

*SUP 2: Php51.639 - Low Feb 23 

*SUP 3: Php51.506 - 55-DMA 

*SUP 4: Php51.400 - Low Feb 9

*COMMENTARY: The break of Php52.213 lacked follow through courtesy of the

Bollinger band top. Bulls now need a close above Php52.235 to gain breathing

room and reconfirm initial focus on retests of 2018 highs. Narrowing Bollinger

bands increase the risk of a breakout in the near future. Bears now look for a

close below Php51.853 to shift initial focus to Php51.400-639 where the 55-DMA

is noted.

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

*RES 4: Thb31.65 - High Feb 22 

*RES 3: Thb31.53 - 55-DMA 

*RES 2: Thb31.31 - 21-DMA 

*RES 1: Thb31.28 - High Mar 19

*PRICE: Thb31.17 @ 2300GMT

*SUP 1: Thb31.08 - Bollinger band base 

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

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

*SUP 4: Thb30.77 - 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

Thb30.77-80 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 Thb31.53-74.

     DOLLAR-IDR TECHS: Bears Need Close Below Idr13688

*RES 4: Idr13958 - TL off 2018 High 

*RES 3: Idr13885 - High Feb 3 2016 

*RES 2: Idr13822 - Bollinger band top 

*RES 1: Idr13800 - 2018 High Mar 1

*PRICE: Idr13760 @ 2300GMT

*SUP 1: Idr13732 - 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 Idr13530-557 where 55 &

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

regain control and return focus to Idr13885-13958 although the Bollinger top may

slow the move.

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

[TOPICS: MTABLE]