MNI Dollar-Asia Morning FX Technical Analysis

27 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: Sgd1.3249 - Bollinger band top 

*RES 3: Sgd1.3214 - High Mar 5 

*RES 2: Sgd1.3179 - Daily Bear channel top off Oct high 

*RES 1: Sgd1.3175 - 55-DMA

*PRICE: Sgd1.3085 @ 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: 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 (Sgd1.3067) remains the key concern for bears.

     DOLLAR-WON TECHS: Bears Need Close Below 21-DMA

*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: Krw1074.5 @ 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: Bulls failed to capitalise on last week's gains with the correction

lower Monday leaving the pair looking heavy and pressure back on the 21-DMA.

Bears continue to 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). Bulls now need a close above Krw1087.6 to confirm focus on

Krw1098.4 2018 highs.

     DOLLAR-MYR TECHS: Focus Back on 2018 Low

*RES 4: Myr3.9723 - 200-WMA 

*RES 3: Myr3.9420 - High Jan 22 

*RES 2: Myr3.9250 - High Mar 16 

*RES 1: Myr3.9000 - Low Mar 22 now resistance

*PRICE: Myr3.8940 @ 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: Bulls failed to capitalise on the marginal close above the 55-DMA

(Myr3.9174) 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. The close below Myr3.9000 leaves the pair

looking heavy and initial focus on Myr3.8630-8880 where 2018 lows are found.

     DOLLAR-CNH TECHS: Fresh 2018 Lows Targeting Cnh6.1850-2130

*RES 4: Cnh6.3401 - 55-DMA 

*RES 3: Cnh6.2985 - Low Mar 15 now resistance 

*RES 2: Cnh6.2867 - Low Feb 27 now resistance 

*RES 1: Cnh6.2678 - Low Feb 16 now resistance

*PRICE: Cnh6.2546 @ 2300GMT

*SUP 1: Cnh6.2480 - High Mar 18 2015 now support

*SUP 2: Cnh6.2293 - High Mar 13 2015 now support

*SUP 3: Cnh6.2130 - Low Aug 8 2015

*SUP 4: Cnh6.1850 - Low May 17 2015

*COMMENTARY: Recent hesitation ahead of the 55-DMA has taken its toll with an

aggressive sell-off Monday to fresh 2018 & 3 year lows. Bears now focus on

Cnh6.1850-2130 last seen in 2015. Layers of resistance have been left behind

with bulls now needing a close above Cnh6.2985 to ease bearish pressure and

above Cnh3.3526 to hint at a shift higher in focus.

     DOLLAR-PHP TECHS: Bullish Pressure Eased

*RES 4: Php52.862 - Daily Bull channel top 

*RES 3: Php52.560 - Low July 18 2006 now resistance 

*RES 2: Php52.552 - 2018 High Mar 23 

*RES 1: Php52.235 - Alternating daily support/resistance

*PRICE: Php52.131 @ 2300GMT

*SUP 1: Php52.056 - 21-DMA 

*SUP 2: Php51.959 - Low Mar 21 

*SUP 3: Php51.945 - Daily Bull channel base off Feb 23 low 

*SUP 4: Php51.853 - Low Mar 16

*COMMENTARY: Fresh 2018 & 12 year highs have lacked follow through with Monday's

sell-off easing bullish pressure. Bears now look for a close below Php51.853 to

shift initial focus back to the 55-DMA (Php51.628). Bulls now look for a close

above Php52.235 to gain breathing room and above Php52.560 to confirm focus on

Php52.847-850 where July 2006 monthly highs are 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: Thb31.48 - 55-DMA 

*RES 1: Thb31.31 - High Mar 23

*PRICE: Thb31.13 @ 2300GMT

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

*SUP 2: Thb31.04 - Bollinger band base 

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

*SUP 4: Thb30.74 - LT Bear channel base

*COMMENTARY: Failure to take out the 21-DMA leaves the pair looking heavy once

more. Bulls now need a close above Thb31.31 to confirm an easing of bearish

pressure and hint at a correction to Thb31.48-74 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 Thb30.74-80 where July

2013 monthly lows and the LT bear channel base are situated.

     DOLLAR-IDR TECHS: Bears Need Close Below Idr13688

*RES 4: Idr13885 - High Feb 3 2016 

*RES 3: Idr13824 - Daily Bull channel top 

*RES 2: Idr13808 - 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 Idr13530-575 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]