MNI Dollar-Asia Morning FX Technical Analysis

29 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: Sgd1.3169 - Daily Bear channel top off Oct high 

*RES 2: Sgd1.3168 - 55-DMA 

*RES 1: Sgd1.3146 - 21-DMA

*PRICE: Sgd1.3116 @ 2300GMT

*SUP 1: Sgd1.3073 - 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 (Sgd1.3073) remains the key concern for bears

and limits follow through.

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

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

*RES 3: Krw1087.6 - High Mar 1

*RES 2: Krw1083.6 - Bollinger band top

*RES 1: Krw1075.8 - High Mar 27

*PRICE: Krw1063.6 @ 2300GMT

*SUP 1: Krw1059.5 - Low Mar 6

*SUP 2: Krw1057.6 - Bollinger band base

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

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

*COMMENTARY: Volatile trading leaves the pair looking offered and immediate

focus back on 2018 lows. Bears look for a close below 2018 lows to initially

pressure Oct 2014 monthly lows at Krw1045.6 and then the daily bear channel base

around Krw1027.0. Bulls now need a close above Krw1075.8 to gain breathing room

and above Krw1087.6 to confirm focus on Krw1098.4 2018 highs.

     DOLLAR-MYR TECHS: Focus Back on 2016 Low

*RES 4: Myr3.9250 - High Mar 16 

*RES 3: Myr3.9000 - Low Mar 22 now resistance 

*RES 2: Myr3.8900 - High Mar 27 

*RES 1: Myr3.8730 - High Mar 28

*PRICE: Myr3.8620 @ 2300GMT

*SUP 1: Myr3.8550 - 2018 Low Mar 28 

*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: Failure to capitalise on the marginal close above the 55-DMA

(Myr3.9124) has resulted in fresh 2018 & 2yr lows with immediate bearish focus

on 2016 lows. Bears need a close below 2016 lows to then target Myr3.7794-8180.

Daily studies are well placed for losses. Bulls now need a close above Myr3.9000

to ease bearish pressure and above Myr3.9420 to shift focus back to the 100-DMA

(Myr3.9914).

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

*RES 4: Cnh6.3773 - High Feb 8 

*RES 3: Cnh6.3526 - High Mar 9 

*RES 2: Cnh6.3321 - 55-DMA 

*RES 1: Cnh6.2985 - Low Mar 15 now resistance

*PRICE: Cnh6.2802 @ 2300GMT

*SUP 1: Cnh6.2769 - High Mar 27 now support

*SUP 2: Cnh6.2547 - Low Mar 29

*SUP 3: Cnh6.2352 - 2018 Low Mar 27

*SUP 4: Cnh6.2293 - High Mar 13 2015 now support

*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: Php52.890 - Daily Bull channel top 

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

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

*RES 1: Php52.414 - Bollinger band top

*PRICE: Php52.255 @ 2300GMT

*SUP 1: Php52.085 - 21-DMA 

*SUP 2: Php51.959 - Low Mar 21 

*SUP 3: Php51.853 - Low Mar 16 

*SUP 4: Php51.700 - 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

Php51.853-52.085 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 Php52.850-890 where July 2006 monthly highs are

located.

     DOLLAR-THB TECHS: Bulls Need Close Above Thb31.32

*RES 4: Thb31.74 - High Feb 12 

*RES 3: Thb31.65 - High Feb 22 

*RES 2: Thb31.45 - 55-DMA, Bollinger band top 

*RES 1: Thb31.32 - High Mar 28

*PRICE: Thb31.28 @ 2300GMT

*SUP 1: Thb31.07 - 2018 Low Mar 14, Bollinger band base 

*SUP 2: Thb30.80 - Monthly Low July 24 2013 

*SUP 3: Thb30.71 - LT Bear channel base 

*SUP 4: Thb30.42 - Low June 14 2013

*COMMENTARY: Hesitation ahead of 2018 lows has resulted in a break of Thb31.31

but follow through has been lacking. Bulls now need a close above Thb31.32 to

confirm an easing of bearish pressure and above the 55-DMA to shift focus back

to Thb31.65-74. Bears now need a close below 2018 lows to reconfirm a bearish

bias and retain focus on Thb30.71-80 where the bear channel base is located.

     DOLLAR-IDR TECHS: Bears Need Close Below Idr13688

*RES 4: Idr13885 - High Feb 3 2016 

*RES 3: Idr13827 - Daily Bull channel top 

*RES 2: Idr13800 - 2018 High Mar 1 

*RES 1: Idr13783 - Bollinger band top

*PRICE: Idr13760 @ 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: Idr13587 - 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 (Idr13755) and hint at a move back to

Idr13530-13587 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]