MNI Dollar-Asia Morning FX Technical Analysis

10 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: Uncomfortable Above 55-DMA

*RES 4: Sgd1.3253 - Daily Bear channel top off 2017 High 

*RES 3: Sgd1.3214 - High Mar 5 

*RES 2: Sgd1.3187 - Bollinger band top 

*RES 1: Sgd1.3146 - Low Apr 6 now resistance

*PRICE: Sgd1.3112 @ 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: Bulls failed gain traction above the 55-DMA (Sgd1.3156) with the

pair capped on approach to Sgd1.3214 courtesy of the Bollinger band top.

Monday's sell-off leaves the pair looking heavy with a close below Sgd1.3084

needed to return focus to Sgd1.3000-04. Bulls now need a close above Sgd1.3146

to gain breathing room and above Sgd1.3214 to confirm initial focus on

Sgd1.3253-84 where a LT bear channel top and 100-DMA are noted.

     DOLLAR-WON TECHS: Krw1071.9-1087.6 Resistance Key This Week

*RES 4: Krw1079.8 - Daily Bear channel top off Sept High

*RES 3: Krw1075.8 - High Mar 27

*RES 2: Krw1074.0 - 100-DMA

*RES 1: Krw1071.9 - 55-DMA

*PRICE: Krw1068.8 @ 2300GMT

*SUP 1: Krw1064.2 - Low Apr 9

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

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

*SUP 4: Krw1023.7 - Daily bear channel base

*COMMENTARY: Gains defined last week as the pair recovered from 2018 lows to see

focus back on Krw1071.9-1087.6 where the 100-DMA and bear channel top are

located. Bulls continue to look for a close above Krw1087.6 to confirm a shift

in focus to Krw1098.4-1108.3 where the 200-DMA (Krw1101.0) and 2018 highs are

located. Bears now need a close below Krw1064.2 to ease pressure on resistance

layers and reconfirm overall focus on the bear channel base.

     DOLLAR-MYR TECHS: Bulls Need Close Above 55-DMA

*RES 4: Myr3.9250 - High Mar 16 

*RES 3: Myr3.8994 - 55-DMA 

*RES 2: Myr3.8900 - High Mar 27 

*RES 1: Myr3.8730 - High Mar 28

*PRICE: Myr3.8690 @ 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 still need a close above the 55-DMA to ease bearish

pressure and above Myr3.9420 to shift focus back to the 100-DMA (Myr3.9663).

     DOLLAR-CNH TECHS: Flirting With 55-DMA

*RES 4: Cnh6.3773 - High Feb 8 

*RES 3: Cnh6.3526 - High Mar 9 

*RES 2: Cnh6.3483 - Bollinger band top 

*RES 1: Cnh6.3253 - High Apr 9

*PRICE: Cnh6.3127 @ 2300GMT

*SUP 1: Cnh6.2838 - Low Apr 6

*SUP 2: Cnh6.2538 - Low Apr 2

*SUP 3: Cnh6.2472 - Bollinger band base

*SUP 4: Cnh6.2352 - 2018 Low Mar 27

*COMMENTARY: The recovery from 2018 & 3yr lows is now struggling with the 55-DMA

(Cnh6.3122) providing a stumbling block. Bulls now need a close above Cnh6.3253

to confirm traction above the 55-DMA and add support to the case for a test of

Cnh6.3773-3870. Initial support is noted at Cnh6.2838 with bears needing a close

below to gain breathing room and return initial focus to retests of 2018 lows.

     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: Php52.393 - Bollinger band top 

*RES 1: Php52.241 - High Apr 2

*PRICE: Php51.999 @ 2300GMT

*SUP 1: Php51.893 - 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 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: 55-DMA Remains Key Resistance

*RES 4: Thb31.74 - High Feb 12 

*RES 3: Thb31.65 - High Feb 22 

*RES 2: Thb31.35 - 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: Thb30.61 - LT Bear channel base 

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

*COMMENTARY: The recovery from 2018 lows continues to hesitation ahead of the

55-DMA. Bulls still need a close above the 55-DMA to confirm an easing of

bearish pressure and to shift initial focus back to Thb31.65-73 where the

100-DMA is noted. Bears retain the advantage while the 55-DMA caps but need a

close below 2018 lows to reconfirm a bearish bias and retain focus on

Thb30.61-80 where the bear channel base is located.

     DOLLAR-IDR TECHS: Bears Need Close Below Idr13688

*RES 4: Idr13885 - High Feb 3 2016 

*RES 3: Idr13837 - Daily Bull channel top 

*RES 2: Idr13800 - 2018 High Mar 1 

*RES 1: Idr13778 - Bollinger band top

*PRICE: Idr13760 @ 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 Idr13800-37 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 Idr13618-647 where

the 55-DMA (Idr13647) is found.

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

[TOPICS: MTABLE]