MNI Dollar-Asia Morning FX Technical Analysis

6 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: Showing Signs Of Life

*RES 4: Sgd1.3268 - 100-DMA 

*RES 3: Sgd1.3261 - Daily Bear channel top off 2017 High 

*RES 2: Sgd1.3214 - High Mar 5 

*RES 1: Sgd1.3191 - Bollinger band top

*PRICE: Sgd1.3157 @ 2300GMT

*SUP 1: Sgd1.3110 - Low Apr 5 

*SUP 2: Sgd1.3084- Low Apr 3 

*SUP 3: Sgd1.3049 - Low Mar 27 

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

*COMMENTARY: Pressure on layers of resistance Sgd1.3132-1.3158 where 21 &

55-DMAs and a bear channel top are located have resulted in a pop above these

levels and bulls now looking for a close above Sgd1.3214 to confirm initial

focus on Sgd1.3261-84 where a LT bear channel top and 100-DMA are noted. The

Sgd1.3084 support remains key with bears now needing a close below to return

focus to Sgd1.3000-04.

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

*RES 4: Krw1074.4 - 100-DMA

*RES 3: Krw1071.8 - 55-DMA

*RES 2: Krw1066.3 - 21-DMA

*RES 1: Krw1065.5 - High Apr 4

*PRICE: Krw1061.6 @ 2300GMT

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

*SUP 2: Krw1051.6 - Bollinger band base

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

*SUP 4: Krw1024.7 - 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 Krw1024.7. 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: Bulls Need Close Above 55-DMA

*RES 4: Myr3.9250 - High Mar 16 

*RES 3: Myr3.9018 - 55-DMA 

*RES 2: Myr3.8900 - High Mar 27 

*RES 1: Myr3.8730 - High Mar 28

*PRICE: Myr3.8650 @ 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 currently focus on 2016 lows with a close below 2016 lows to then

target Myr3.7794-8180. Bulls now need a close above the 55-DMA to ease bearish

pressure and above Myr3.9420 to shift focus back to the 100-DMA (Myr3.9720).

     DOLLAR-CNH TECHS: 55-DMA Now Capping

*RES 4: Cnh6.3773 - High Feb 8 

*RES 3: Cnh6.3526 - High Mar 9 

*RES 2: Cnh6.3153 - 55-DMA 

*RES 1: Cnh6.3120 - High Apr 4

*PRICE: Cnh6.2887 @ 2300GMT

*SUP 1: Cnh6.2538 - Low Apr 2

*SUP 2: Cnh6.2459 - 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 recovering back towards the 55-DMA. Bulls continue to 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 Php51.853

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

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

*RES 2: Php52.394 - Bollinger band top 

*RES 1: Php52.241 - High Apr 2

*PRICE: Php51.999 @ 2300GMT

*SUP 1: Php51.858 - 55-DMA 

*SUP 2: Php51.853 - Low Mar 16 

*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 now

need a close below Php51.853 to confirm a break of the 55-DMA & 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 55-DMA

*RES 4: Thb31.74 - High Feb 12 

*RES 3: Thb31.65 - High Feb 22 

*RES 2: Thb31.37 - 55-DMA 

*RES 1: Thb31.32 - High Mar 28

*PRICE: Thb31.26 @ 2300GMT

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

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

*SUP 3: Thb30.64 - 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 now need a close above the 55-DMA to

confirm an easing of bearish pressure and to shift focus back to Thb31.65-74.

Bears still need a close below 2018 lows to reconfirm a bearish bias and retain

focus on Thb30.64-80 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: Idr13764 @ 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: Bulls took comfort in the recovery from a dip back towards Idr13688

with the recovery returning focus to Idr13800-32 where 2018 highs and a bull

channel top are located. The Bollinger top is the key concern for bulls with

potential to limit follow through. Bears now need a close below Idr13730 to gain

breathing room and below Idr13688 to shift initial focus to Idr13618-640 where

the 55-DMA (Idr13631) is found.

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

[TOPICS: MTABLE]