MNI Dollar-Asia Morning FX Technical Analysis

5 April 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: Above 55-DMA To Ease Bearish Pressure

*RES 4: Sgd1.3214 - High Mar 5 

*RES 3: Sgd1.3158 - 55-DMA 

*RES 2: Sgd1.3144 - Daily Bear channel top off Oct high 

*RES 1: Sgd1.3131 - 21-DMA

*PRICE: Sgd1.3121 @ 2300GMT

*SUP 1: Sgd1.3084- Low Apr 3 

*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: Pressure continues to return to layers of resistance

Sgd1.3131-1.3158 where 21 & 55-DMAs and a bear channel top are located. Bulls

continue to look for a close above the 55-DMA to ease bearish pressure and above

Sgd1.3214 to shift initial focus to Sgd1.3269-76 where the 100-DMA is noted.

While the 55-DMA caps bears remain focused on Sgd1.3000-04 with a close below

Sgd1.3049 to add weight to their case.

     DOLLAR-WON TECHS: Bulls Need Close Above 21-DMA

*RES 4: Krw1074.7 - 100-DMA

*RES 3: Krw1071.9 - 55-DMA

*RES 2: Krw1066.6 - 21-DMA

*RES 1: Krw1065.5 - High Apr 4

*PRICE: Krw1057.5 @ 2300GMT

*SUP 1: Krw1052.0 - 2018 Low Apr 2

*SUP 2: Krw1051.4 - Bollinger band base

*SUP 3: Krw1045.6 - Monthly Low Oct 29 2014

*SUP 4: Krw1025.2 - Daily Bear channel base

*COMMENTARY: Volatile trading in recent weeks left the pair looking offered

resulting in fresh 2018 & nearly 4 year lows Monday. Bears shift focus to tests

of the bear channel base coming in around Krw1025.2. The Bollinger base is the

key concern for bears. Initial resistance is noted at Krw1065.5 with bulls

needing a close above the 21-DMA to ease bearish pressure. Overall above

Krw1087.6 is needed to end bearish hopes and initially target 2018 highs.

     DOLLAR-MYR TECHS: Bears Focused 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: Myr3.8680 @ 2300GMT

*SUP 1: Myr3.8510 - 2018 Low Apr 2 

*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: Hesitation ahead of recent 2018 and nearly 2 year lows is a concern

for bears when combined with daily studies looking to correct from modestly O/S

levels. Bears focus on 2016 lows with a close below 2016 lows to then target

Myr3.7794-8180. Bulls still need a close above Myr3.9000 to ease bearish

pressure and above Myr3.9420 to shift focus back to the 100-DMA (Myr3.9751).

     DOLLAR-CNH TECHS: 55-DMA Now Capping

*RES 4: Cnh6.3773 - High Feb 8 

*RES 3: Cnh6.3526 - High Mar 9 

*RES 2: Cnh6.3172 - 55-DMA 

*RES 1: Cnh6.3120 - High Apr 4

*PRICE: Cnh6.2842 @ 2300GMT

*SUP 1: Cnh6.2538 - Low Apr 2

*SUP 2: Cnh6.2450 - Bollinger band base

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

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

*COMMENTARY: Bears have failed to capitalise on recent 2018 & 3yr lows with the

pair bouncing back towards the 55-DMA. Bulls now look for a close above the

55-DMA to shift focus back to Cnh6.3773-3870. While the 55-DMA caps bears remain

focused on Cnh6.1850-2130 last seen in 2015 with a close below 2018 lows needed

to add weight to their case.

     DOLLAR-PHP TECHS: Bears Need Close Below 55-DMA

*RES 4: Php52.560 - Low July 18 2006 now resistance 

*RES 3: Php52.552 - 2018 High Mar 23 

*RES 2: Php52.397 - Bollinger band top 

*RES 1: Php52.241 - High Apr 2

*PRICE: Php51.999 @ 2300GMT

*SUP 1: Php51.853 - Low Mar 16 

*SUP 2: Php51.834 - 55-DMA 

*SUP 3: Php51.639 - Low Feb 23 

*SUP 4: Php51.400 - Low Feb 9

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

for bulls and has resulted in a correction back towards the 55-DMA. Bears still

need a close below the 55-DMA to shift initial focus back to Php51.400. Bulls

now look for a close above Php52.241 to gain breathing room and above Php52.560

to confirm focus on Php52.850-933 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: Thb31.38 - 55-DMA 

*RES 1: Thb31.32 - High Mar 28

*PRICE: Thb31.21 @ 2300GMT

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

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

*SUP 3: Thb30.65 - LT Bear channel base 

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

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

follow through has been lacking. Bulls still 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 Thb30.65-80 where the bear channel base is located.

     DOLLAR-IDR TECHS: Bears Need Close Below Idr13688

*RES 4: Idr13885 - High Feb 3 2016 

*RES 3: Idr13832 - Daily Bull channel top 

*RES 2: Idr13800 - 2018 High Mar 1 

*RES 1: Idr13783 - Bollinger band top

*PRICE: Idr13763 @ 2300GMT

*SUP 1: Idr13730 - Low Mar 28 

*SUP 2: Idr13688 - High Feb 22 now support 

*SUP 3: Idr13640 - Low Feb 26 

*SUP 4: Idr13618 - High Feb 21 now support

*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 (Idr13757) and hint at a move back to

Idr13530-13640 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]