MNI Dollar-Asia Morning FX Technical Analysis

4 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: Bears Need Close Below Sgd1.3296

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

*RES 3: Sgd1.3383 - 200-DMA 

*RES 2: Sgd1.3372 - Bollinger band top 

*RES 1: Sgd1.3369 - High Jan 10

*PRICE: Sgd1.3305 @ 2300GMT

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

*SUP 2: Sgd1.3210 - 100-DMA 

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

*SUP 4: Sgd1.3173 - High Apr 20

*COMMENTARY: The 200-DMA has capped this week so far with bulls needing a close

above Sgd1.3415 to confirm a break and to shift initial focus to

Sgd1.3498-1.3538. Pressure has returned to initial support with bears needing a

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

correction back to Sgd1.3133-1.3210 where key DMAs are noted. Correcting O/B

studies add weight to the bearish case.

     DOLLAR-WON TECHS: Broad Sideways Trading Continues

*RES 4: Krw1095.7 - 200-DMA

*RES 3: Krw1087.6 - High Mar 1

*RES 2: Krw1085.5 - High Mar 23

*RES 1: Krw1079.4 - High May 3

*PRICE: Krw1078.3 @ 2300GMT

*SUP 1: Krw1071.3 - 100-DMA

*SUP 2: Krw1064.9 - Low Apr 30

*SUP 3: Krw1064.4 - 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

Krw1095.7-1098.4 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: Myr3.9310 @ 2300GMT

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

*SUP 2: Myr3.8972 - 55-DMA 

*SUP 3: Myr3.8947 - 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 look for a close above this

level to shift initial focus to Myr3.9830-4.0260 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: Cnh6.3787 - High May 3

*PRICE: Cnh6.3478 @ 2300GMT

*SUP 1: Cnh6.3268 - High Apr 30 now support

*SUP 2: Cnh6.3076 - 55-DMA

*SUP 3: Cnh6.3031 - 21-DMA

*SUP 4: Cnh6.2913 - Low Apr 24

*COMMENTARY: Bulls have failed to capitalise on the close above the 100-DMA

(Cnh6.3611) with the pair rejected ahead of the key Cnh6.3870 resistance. Bulls

continue to 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 Cnh6.2913

to confirm breaks of 21 & 55-DMAs and to shift initial focus back to 2018 lows.

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

*RES 4: Php52.350 - Bollinger band top 

*RES 3: Php52.170 - Low Apr 25 now resistance 

*RES 2: Php52.025 - 55-DMA 

*RES 1: Php51.962 - 21-DMA

*PRICE: Php51.927 @ 2300GMT

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

*SUP 2: Php51.458 - 100-DMA 

*SUP 3: Php51.400 - Low Feb 9 

*SUP 4: Php51.217 - 200-DMA

*COMMENTARY: Bears take comfort in the 21 & 55-DMAs now capping with bears

currently focused on the broad Php51.030-569 support region where 100 & 200-DMAs

are located. Bears need a close below Php51.030 to shift focus to tests of 2018

lows. Bulls now need a close above the 55-DMA to gain breathing room and above

Php52.170 to end bearish hopes and return initial focus to 2018 highs.

     DOLLAR-THB TECHS: Lacks Traction Above Bear Channel Top

*RES 4: Thb32.35 - 200-DMA 

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

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

*RES 1: Thb31.78 - High May 3

*PRICE: Thb31.63 @ 2300GMT

*SUP 1: Thb31.45 - Low Apr 30 

*SUP 2: Thb31.39 - Alternating daily support/resistance 

*SUP 3: Thb31.33 - 55-DMA 

*SUP 4: Thb31.07 - 2018 Low Mar 14

*COMMENTARY: Bulls have so far failed to gain traction above the LT bear channel

top (Thb31.72) 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 (Thb32.34). The close below the 100-DMA provides bears breathing room

breathing room with 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: Idr13973 - 2018 High May 3

*PRICE: Idr13935 @ 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: Idr13766 - 55-DMA

*COMMENTARY: Hesitation ahead of 2016 highs following continued fresh 2018 &

2+yr highs is less than ideal when combined with daily studies looking to

correct from O/B. In saying that, bears continue to look for a close below

Idr13910 to ease bearish pressure and below Idr13860 to shift initial focus back

to Idr13800. While Idr13910 supports bulls need a close above Idr13975 to

initially target Idr14090 and then Idr14480 last seen in 2015.

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

[TOPICS: MTABLE]