MNI Dollar-Asia Morning FX Technical Analysis

19 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: Bulls Still Need Close Above 55-DMA

*RES 4: Sgd1.3163 - Bollinger band top 

*RES 3: Sgd1.3157 - 55-DMA 

*RES 2: Sgd1.3146 - Low Apr 6 now resistance 

*RES 1: Sgd1.3116 - 21-DMA

*PRICE: Sgd1.3095 @ 2300GMT

*SUP 1: Sgd1.3071 - Low Apr 12 

*SUP 2: Sgd1.3069 - Bollinger band base 

*SUP 3: Sgd1.3049 - Low Mar 27 

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

*COMMENTARY: Bulls took comfort from bounces last week but now need a close

above the 55-DMA to gain breathing room and shift initial focus to Sgd1.3214-84

where a LT bear channel top and 100-DMA (Sgd1.3234) are noted. While the 55-DMA

caps bears remain focused on Sgd1.3000-04 with a close below Sgd1.3071 needed to

provide bears breathing room and add to confidence. The Bollinger base is the

key concern for bears.

     DOLLAR-WON TECHS: Bulls Need Close Above Bear Channel Top

*RES 4: Krw1087.6 - High Mar 1

*RES 3: Krw1081.1 - Bollinger band top

*RES 2: Krw1076.3 - Daily Bear channel top off Sept High

*RES 1: Krw1075.8 - High Mar 27

*PRICE: Krw1064.5 @ 2300GMT

*SUP 1: Krw1061.3 - Low Apr 6

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

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

*SUP 4: Krw1020.1 - Daily bear channel base

*COMMENTARY: The pop above 55 (Krw1071.8) & 100 (Krw1072.8) DMAs lacked follow

through Monday with bulls continuing to look for a close above the bear channel

top to gain breathing room and above Krw1087.6 to confirm a shift in focus to

Krw1098.2-1108.3 where the 200-DMA (Krw1098.2) and 2018 highs are located. The

closes below the 21-DMA (Krw1066.7) ease pressure on resistance layers with

below Krw1061.3 to reconfirm overall focus on the bear channel base.

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

*RES 4: Myr3.9420 - High Jan 22 

*RES 3: Myr3.9250 - High Mar 16 

*RES 2: Myr3.8974 - 55-DMA 

*RES 1: Myr3.8910 - High Apr 18

*PRICE: Myr3.8885 @ 2300GMT

*SUP 1: Myr3.8791 - 21-DMA 

*SUP 2: Myr3.8700 - Low Apr 12 

*SUP 3: Myr3.8510 - 2018 Low Apr 2 

*SUP 4: Myr3.8470 - 2016 Low Apr 13

*COMMENTARY: Hesitation ahead of recent 2018 and nearly 2 year lows has seen the

pair work its way back towards key resistance layers. Bulls still need a close

above the 55-DMA to ease bearish pressure and above the 100-DMA (Myr3.9502) to

target the 200-WMA (Myr3.9821). Bears continue to look for a close below

Myr3.8700 to confirm a break of the 21-DMA and to return pressure to 2018 lows.

     DOLLAR-CNH TECHS: Bears Dominate While Cnh3.3253 Caps

*RES 4: Cnh6.3526 - High Mar 9 

*RES 3: Cnh6.3253 - High Apr 9 

*RES 2: Cnh6.3198 - Bollinger band top 

*RES 1: Cnh6.2909 - Low Apr 9 now resistance

*PRICE: Cnh6.2710 @ 2300GMT

*SUP 1: Cnh6.2538 - Low Apr 2

*SUP 2: Cnh6.2416 - Bollinger band base

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

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

*COMMENTARY: The recovery from 2018 & 3yr lows failed to gain traction on pops

above the 55-DMA (Cnh6.3054) with the sell-offs last week seeing focus back on

2018 lows. The Bollinger base is the key concern for bears with potential to

limit follow through. Bulls continue to look for a close above Cnh6.3253 to

confirm a break of the 55-DMA and ease bearish pressure, and above Cnh6.3526 to

shift focus to Cnh6.3773-3931 where the 100-DMA is noted.

     DOLLAR-PHP TECHS: Bulls Need Close Above Php52.269

*RES 4: Php52.552 - 2018 High Mar 23 

*RES 3: Php52.400 - Bollinger band top 

*RES 2: Php52.269 - High Apr 17 

*RES 1: Php52.166 - High Apr 18

*PRICE: Php51.993 @ 2300GMT

*SUP 1: Php51.765 - Low Apr 11 

*SUP 2: Php51.763 - Bollinger band base 

*SUP 3: Php51.639 - Low Feb 23 

*SUP 4: Php51.400 - Low Feb 9

*COMMENTARY: Pressure on the 21-DMA resulted in a break higher Tuesday although

the lack of follow through is a concern for bulls. Bulls now need a close above

Php52.269 to return initial focus to tests of 2018 highs. Bears continue to look

for a close below Php51.639 to end bullish hopes and to shift focus back to

Php51.030-400 where 100 (Php51.296) & 200 (Php51.145) DMAs are situated.

     DOLLAR-THB TECHS: Bears Dominate While 55-DMA Caps

*RES 4: Thb31.74 - High Feb 12 

*RES 3: Thb31.73 - 100-DMA 

*RES 2: Thb31.65 - High Feb 22 

*RES 1: Thb31.32 - High Mar 28, 55-DMA

*PRICE: Thb31.19 @ 2300GMT

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

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

*SUP 3: Thb30.53 - LT Bear channel base 

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

*COMMENTARY: The recovery from 2018 lows continues to hesitate 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 Thb31.65-74 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

Thb30.53-80 where the LT bear channel base is located.

     DOLLAR-IDR TECHS: Bears Need Close Below Idr13730

*RES 4: Idr13885 - High Feb 3 2016 

*RES 3: Idr13846 - Daily Bull channel top 

*RES 2: Idr13800 - 2018 High Mar 1 

*RES 1: Idr13781 - Bollinger band top

*PRICE: Idr13773 @ 2300GMT

*SUP 1: Idr13730 - Low Mar 28 

*SUP 2: Idr13700 - 55-DMA 

*SUP 3: Idr13688 - High Feb 22 now support 

*SUP 4: Idr13640 - Low Feb 26

*COMMENTARY: Bulls took comfort in the recovery from a dip back towards Idr13688

with the recovery returning focus to Idr13800-46 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 confirm a break of the 55-DMA & shift

initial focus to Idr13618-640.

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

[TOPICS: MTABLE]