MNI Dollar-Asia Morning FX Technical Analysis

3 May 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: Immediate Focus On Sgd1.3369-1.3415

*RES 4: Sgd1.3415 - Low Dec 1 now resistance 

*RES 3: Sgd1.3384 - 200-DMA 

*RES 2: Sgd1.3372 - Bollinger band top 

*RES 1: Sgd1.3369 - High Jan 10

*PRICE: Sgd1.3356 @ 2300GMT

*SUP 1: Sgd1.3296 - High Apr 25 now support 

*SUP 2: Sgd1.3212 - 100-DMA 

*SUP 3: Sgd1.3197 - High Apr 6 now support 

*SUP 4: Sgd1.3173 - High Apr 20

*COMMENTARY: Support emerging on dips back towards Sgd1.3197 sees bulls firmly

focused on Sgd1.3369-1.3415 where the 200-DMA is located. Bears now look for a

close below Sgd1.3296 to gain breathing room and increase the likelihood of a

correction back to Sgd1.3133-1.3212 where key DMAs are noted. Bulls now look for

a close above Sgd1.3415 to shift initial focus to Sgd1.3498-1.3538.

     DOLLAR-WON TECHS: Broad Sideways Trading Continues

*RES 4: Krw1098.4 - 2018 High Feb 6

*RES 3: Krw1095.9 - 200-DMA

*RES 2: Krw1087.6 - High Mar 1

*RES 1: Krw1085.5 - High Mar 23

*PRICE: Krw1078.3 @ 2300GMT

*SUP 1: Krw1071.4 - 100-DMA

*SUP 2: Krw1064.9 - Low Apr 30

*SUP 3: Krw1063.9 - Daily Bull channel base

*SUP 4: Krw1058.7 - Low Apr 6

*COMMENTARY: Broad sideways trading Krw1052.0-1087.6 continues with the focus

shifting back to the upper end of this region following Wednesday's rally. Bulls

look for a close above Krw1087.6 to break free of the range and initially target

Krw1095.9-1098.4 where 2018 highs and the 200-DMA are located. Bears now look

for a close below Krw1064.9 to shift focus back to the lower end of the defining

Krw1052.0-1087.6 range.

     DOLLAR-MYR TECHS: Bulls Need Close Above Myr3.9420

*RES 4: Myr3.9420 - High Jan 22 

*RES 3: Myr3.9349 - 100-DMA 

*RES 2: Myr3.9327 - 21-WMA 

*RES 1: Myr3.9250 - High Mar 16

*PRICE: Myr3.9330 @ 2300GMT

*SUP 1: Myr3.9250 - High Mar 16 now support 

*SUP 2: Myr3.8964 - 55-DMA 

*SUP 3: Myr3.8917 - 21-DMA 

*SUP 4: Myr3.8890 - Low Apr 20

*COMMENTARY: The recovery from 2018 lows sees the pair flirting with the 100-DMA

& 21-WMA with the Myr3.9420 resistance key. Bulls now look for a close above

this level to shift initial focus to Myr3.9830-4026 where the 200-WMA is

located. Initial support is now noted at Myr3.9250 with bears now needing a

close below to ease pressure on key resistance layers and below the 21-DMA to

shift focus back to 2018 lows.

     DOLLAR-CNH TECHS: Bulls Need Close Above Cnh6.3870

*RES 4: Cnh6.4475 - High Jan 16 

*RES 3: Cnh6.4140 - Alternating daily support/resistance 

*RES 2: Cnh6.3870 - Low Jan 19 now resistance 

*RES 1: Cnh6.3773 - High Feb 8

*PRICE: Cnh6.3726 @ 2300GMT

*SUP 1: Cnh6.3640 - 100-DMA

*SUP 2: Cnh6.3526 - High Mar 9 now support

*SUP 3: Cnh6.3268 - High Apr 30 now support

*SUP 4: Cnh6.3073 - 55-DMA

*COMMENTARY: Bulls take comfort in the first close above the 100-DMA since June

2017 with immediate focus on Cnh6.3870 today. Bulls now look for a close above

this level to shift focus to Cnh6.4475-4962 where the 200-WMA & 200-DMA are

located. Bears now need a close below Cnh6.3526 to ease renewed bullish pressure

and hint at a correction back to the 55-DMA.

     DOLLAR-PHP TECHS: Bulls Need Close Above Php52.170

*RES 4: Php52.483 - High Apr 24 

*RES 3: Php52.347 - Bollinger band top 

*RES 2: Php52.170 - Low Apr 25 now resistance 

*RES 1: Php52.044 - 55-DMA

*PRICE: Php51.927 @ 2300GMT

*SUP 1: Php51.569 - Monthly Low Apr 30 

*SUP 2: Php51.433 - 100-DMA 

*SUP 3: Php51.400 - Low Feb 9 

*SUP 4: Php51.204 - 200-DMA

*COMMENTARY: The recovery from last week's low sees the pair pressuring the

55-DMA. Bulls now look for a close above Php52.170 to end bearish hopes and

return initial focus to 2018 highs. Bears now need a close below the 200-DMA to

hint at a move back to 2018 lows with a close below Php51.030 needed to confirm.

Daily studies are well placed for a fresh leg higher as they correct from

modestly O/S levels.

     DOLLAR-THB TECHS: Pressuring Key Resistance Region

*RES 4: Thb32.35 - 200-DMA 

*RES 3: Thb32.06 - Alternating daily support/resistance 

*RES 2: Thb31.92 - Monthly High Feb 8 

*RES 1: Thb31.79 - Bollinger band top

*PRICE: Thb31.77 @ 2300GMT

*SUP 1: Thb31.63 - 100-DMA 

*SUP 2: Thb31.45 - Low Apr 30 

*SUP 3: Thb31.39 - Alternating daily support/resistance 

*SUP 4: Thb31.33 - 55-DMA

*COMMENTARY: The pair is flirting with the LT bear channel top (Thb31.73) off

2017 highs. Bulls look to gain traction above the bear channel top to confirm

focus on Thb31.92-32.06 with above Thb32.06 to target the 200-DMA (Thb32.35).

Bears now need a close below the 100-DMA to gain breathing room and below the

55-DMA to shift initial focus back to 2018 lows (Thb31.07).

     DOLLAR-IDR TECHS: O/B Studies Remain A Concern

*RES 4: Idr14480 - Low Oct 5 2015 now resistance 

*RES 3: Idr14090 - Monthly High Dec 14 2015 

*RES 2: Idr13975 - 2016 High Jan 7 

*RES 1: Idr13960 - 2018 High May 2

*PRICE: Idr13885 @ 2300GMT

*SUP 1: Idr13910 - High Apr 30 now support 

*SUP 2: Idr13860 - Low Apr 30 

*SUP 3: Idr13800 - High Mar 1 now support 

*SUP 4: Idr13753 - 55-DMA

*COMMENTARY: Fresh 2018 & 3+yr highs kick started bullish momentum with

immediate focus on 2016 highs and then Idr14480. Daily studies at O/B levels

remain the key concern for bulls. Bears now need a close below Idr13910 to gain

breathing room and below Idr13860 to shift initial focus back to Idr13730-800

where the 55-DMA is located.

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

[TOPICS: MTABLE]