MNI Dollar-Asia Morning FX Technical Analysis

26 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: Sgd1.3214 Resistance Remains Key

*RES 4: Sgd1.3243 - Bollinger band top 

*RES 3: Sgd1.3214 - High Mar 5 

*RES 2: Sgd1.3184 - Daily Bear channel top off Oct high 

*RES 1: Sgd1.3181 - 55-DMA

*PRICE: Sgd1.3168 @ 2300GMT

*SUP 1: Sgd1.3106 - Low Mar 22 

*SUP 2: Sgd1.3077 - Low Mar 14 

*SUP 3: Sgd1.3052 - Low Feb 16 

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

*COMMENTARY: Follow through has been lacking on the most recent failures ahead

of the 55-DMA and bear channel top but bulls continue to look for a close above

Sgd1.3214 to shift focus to Sgd1.3284-1.3369. While Sgd1.3214 caps bears focus

on tests of Sgd1.3000-04 with a close below Sgd1.3077 needed to add weight to

their case. The Bollinger base (Sgd1.3086) remains the key concern for bears.

     DOLLAR-WON TECHS: Bulls Now Need Close Above Krw1087.6

*RES 4: Krw1105.3 - 200-DMA

*RES 3: Krw1098.4 - 2018 High Feb 6

*RES 2: Krw1087.6 - High Mar 1

*RES 1: Krw1087.1 - Bollinger band top

*PRICE: Krw1080.01 @ 2300GMT

*SUP 1: Krw1075.4 - Low Mar 23

*SUP 2: Krw1072.6 - 21-DMA

*SUP 3: Krw1059.5 - Low Mar 6

*SUP 4: Krw1058.0 - Bollinger band base

*COMMENTARY: An aggressive reversal of failures around the 21 & 55-DMAs resulted

in a close above the daily bear channel top off Sept highs hinting at a move

targeting the 2018 high with above Krw1087.6 to confirm. Bears now look for a

close below the 21-DMA to ease bullish pressure and return focus to

Krw1059.5-1063.4 and below this region to pressure 2018 lows (Krw1054.7).

     DOLLAR-MYR TECHS: Topside Follow Through Lacking

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

*RES 3: Myr3.9689 - 200-WMA 

*RES 2: Myr3.9420 - High Jan 22 

*RES 1: Myr3.9250 - High Mar 16

*PRICE: Myr3.9150 @ 2300GMT

*SUP 1: Myr3.9000 - Low Mar 22 

*SUP 2: Myr3.8800 - Low Feb 2 

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

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

*COMMENTARY: Bulls failed to capitalise on the marginal close above the 55-DMA

(Myr3.9192) with the Bollinger top (Myr3.9253) limiting follow through. In

saying that, narrowing Bollinger bands hint at a breakout in the near future.

Bulls now look for a close above Myr3.9420 to hint at a move back to Myr3.9830

and above the 200-WMA to confirm. Bears now need a close below Myr3.9000 to

return initial focus to Myr3.8630-8880 where 2018 lows are found.

     DOLLAR-CNH TECHS: Cnh6.2985 & Cnh6.3526 Levels Remain Key

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

*RES 3: Cnh6.3773 - High Feb 8 

*RES 2: Cnh6.3526 - High Mar 9 

*RES 1: Cnh6.3462 - 55-DMA

*PRICE: Cnh6.3119 @ 2300GMT

*SUP 1: Cnh6.2985 - Low Mar 15

*SUP 2: Cnh6.2966 - Bollinger band base

*SUP 3: Cnh6.2867 - Low Feb 27

*SUP 4: Cnh6.2678 - Low Feb 16

*COMMENTARY: Whippy range trading persists with narrowing Bollinger bands

increasing the risk of a break out in the near future. Bulls now need a close

above Cnh6.3526 to confirm a break of the 55-DMA and shift initial focus to

Cnh6.3773-3870. Bears continue to look for a close below Cnh6.2985 to shift

focus back to tests of 2018 lows (Cnh6.2548).

     DOLLAR-PHP TECHS: Above Php52.560 To Target Php52.847-850

*RES 4: Php52.850 - Monthly High July 18 2006 

*RES 3: Php52.847 - Daily Bull channel top 

*RES 2: Php52.560 - Low July 18 2006 now resistance 

*RES 1: Php52.552 - 2018 High Mar 23

*PRICE: Php52.365 @ 2300GMT

*SUP 1: Php52.235 - High Mar 21 now support 

*SUP 2: Php51.959 - Low Mar 21 

*SUP 3: Php51.930 - Daily Bull channel base off Feb 23 low 

*SUP 4: Php51.853 - Low Mar 16

*COMMENTARY: Immediate pressure resulted in 2018 highs with bulls looking for a

close above Php52.560 to confirm focus on Php52.847-850 where July 2006 monthly

highs are located. The Bollinger top (Php52.331) is the key concern for bulls

with potential to limit follow through. Bears now look for a close below

Php52.235 to ease bullish pressure and shift initial focus back to layers of

support Php51.853-959 where the bull channel base is located.

     DOLLAR-THB TECHS: Bulls Now Need Close Above Thb31.31

*RES 4: Thb31.65 - High Feb 22 

*RES 3: Thb31.51 - Bollinger band top 

*RES 2: Thb31.50 - 55-DMA 

*RES 1: Thb31.31 - High Mar 23

*PRICE: Thb31.17 @ 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: Thb30.75 - LT Bear channel base

*COMMENTARY: Bulls take comfort in pressure returning to the 21-DMA with a close

above Thb31.31 now needed to confirm an easing of bearish pressure and hint at a

correction to Thb31.50-74 where the 55-DMA and Bollinger top are located. While

Thb31.31 caps bears remain focused on the break of Thb31.07 needed to add weight

to the case for a test of Thb30.75-80 where July 2013 monthly lows and the LT

bear channel base are situated.

     DOLLAR-IDR TECHS: Lacks Follow Through Below 21-DMA

*RES 4: Idr13885 - High Feb 3 2016 

*RES 3: Idr13823 - Daily Bull channel top 

*RES 2: Idr13814 - Bollinger band top 

*RES 1: Idr13800 - 2018 High Mar 1

*PRICE: Idr13780 @ 2300GMT

*SUP 1: Idr13725 - Low Mar 22 

*SUP 2: Idr13688 - High Feb 22 now support 

*SUP 3: Idr13640 - Low Feb 26 

*SUP 4: Idr13618 - High Feb 21 now support

*COMMENTARY: The break of the 21-DMA lacked follow through Thursday with bears

continuing to look for a close below Idr13688 to confirm a break and to shift

initial focus to Idr13618-640 with overall focus returning to Idr13530-570 where

55 & 100-DMAs are situated. Bulls continue to look for a close above 2018 highs

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

slow the move.

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

[TOPICS: MTABLE]