MNI Dollar-Asia Morning FX Technical Analysis

28 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: Sgd1.3214 - High Mar 5

*RES 3: Sgd1.3174 - Daily Bear channel top off Oct high 

*RES 2: Sgd1.3171 - 55-DMA 

*RES 1: Sgd1.3106 - Low Mar 22 now resistance

*PRICE: Sgd1.3098 @ 2300GMT

*SUP 1: Sgd1.3067 - Bollinger band base 

*SUP 2: Sgd1.3049 - Low Mar 27 

*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 Sgd1.3049 now needed to add weight

to their case. The Bollinger base (Sgd1.3067) remains the key concern for bears

and limits follow through.

     DOLLAR-WON TECHS: Bears Dominate While Krw1087.6 Caps

*RES 4: Krw1104.6 - 200-DMA

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

*RES 2: Krw1087.6 - High Mar 1

*RES 1: Krw1085.4 - Bollinger band top

*PRICE: Krw1074.0 @ 2300GMT

*SUP 1: Krw1066.9 - Low Mar 27

*SUP 2: Krw1059.5 - Low Mar 6

*SUP 3: Krw1058.7 - Bollinger band base

*SUP 4: Krw1054.7 - 2018 Low Jan 15

*COMMENTARY: Bulls failed to capitalise on last week's gains with the correction

lower Monday resulting in dips below 21 & 55-DMAs Tuesday only to lack follow

through. The Krw1087.6 resistance remains key. Bulls need a close above his

level to confirm focus on Krw1098.4 2018 highs. While Krw1087.6 caps bears

remain focused on 2018 lows with a close below Krw1066.9 now needed to add

weight to their case.

     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: Myr3.8755 @ 2300GMT

*SUP 1: Myr3.8630 - 2018 Low Jan 29 

*SUP 2: Myr3.8470 - 2016 Low Apr 13 

*SUP 3: Myr3.8180 - High July 30 2015 now support 

*SUP 4: Myr3.7795 - Low July 10 2015

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

(Myr3.9150) with the Bollinger top (Myr3.9291) limiting follow through. The pair

remains heavy with losses defining the week so far and immediate pressure back

on the 2018 lows. Bears look for a close below Myr3.8630 to initially target

2016 lows and then the Myr3.7795-3.8181 region last seen in July 2015. Bulls now

need a close above Myr3.9000 to ease bearish pressure.

     DOLLAR-CNH TECHS: Bulls Need Close Above Cnh6.2985

*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: Cnh6.2769 - High Mar 27

*PRICE: Cnh6.2546 @ 2300GMT

*SUP 1: Cnh6.2352 - 2018 Low Mar 27

*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 with fresh 2018 & 3 year lows seen again Tuesday.

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: Php52.876 - Daily Bull channel top 

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

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

*RES 1: Php52.417 - Bollinger band top

*PRICE: Php52.389 @ 2300GMT

*SUP 1: Php52.081 - 21-DMA 

*SUP 2: Php51.959 - Low Mar 21, Daily Bull channel base off Feb 23 low 

*SUP 3: Php51.853 - Low Mar 16 

*SUP 4: Php51.667 - 55-DMA

*COMMENTARY: Hesitation following recent 2018 & 12 year highs is less than ideal

for bulls although they do take comfort in the 21-DMA now supporting. The

Php51.853-52.081 support region remains key. Bears need a close below Php51.853

to shift initial focus back to the 55-DMA. Bulls now look for a close above

Php52.560 to confirm focus on Php52.850-876 where July 2006 monthly highs are

located.

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

*RES 4: Thb31.65 - High Feb 22 

*RES 3: Thb31.48 - Bollinger band top 

*RES 2: Thb31.46 - 55-DMA 

*RES 1: Thb31.31 - High Mar 23

*PRICE: Thb31.19 @ 2300GMT

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

*SUP 2: Thb31.05 - Bollinger band base 

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

*SUP 4: Thb30.72 - 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 Thb31.46-74 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 Thb30.72-80 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: Idr13825 - Daily Bull channel top 

*RES 2: Idr13800 - 2018 High Mar 1 

*RES 1: Idr13796 - Bollinger band top

*PRICE: Idr13740 @ 2300GMT

*SUP 1: Idr13688 - High Feb 22 now support 

*SUP 2: Idr13640 - Low Feb 26 

*SUP 3: Idr13618 - High Feb 21 now support 

*SUP 4: Idr13581 - 55-DMA

*COMMENTARY: The Idr13688 support reconfirmed significance with a bounce from

ahead of this level Tuesday. Bears continue to look for a close below Idr13688

to confirm traction below the 21-DMA (Idr13751) and hint at a move back to

Idr13530-13581 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]