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US TSYS SUMMARY

Substantial Further Progress Not Yet Reached

USDCAD TECHS

Runs Counter to Trend

AUDUSD TECHS

Fed Bounce Stops Short

EURJPY TECHS

Bearish Trend Conditions

USDJPY TECHS

Bearish Threat

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]