MNI Dollar-Asia Morning FX Technical Analysis

8 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: Hesitating Ahead Of 200-DMA

*RES 4: Sgd1.3418 - Bollinger band top 

*RES 3: Sgd1.3415 - Low Dec 1 now resistance 

*RES 2: Sgd1.3381 - 200-DMA 

*RES 1: Sgd1.3373 - High May 7

*PRICE: Sgd1.3359 @ 2300GMT

*SUP 1: Sgd1.3285 - Low May 4 

*SUP 2: Sgd1.3208 - 100-DMA 

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

*SUP 4: Sgd1.3173 - High Apr 20

*COMMENTARY: The 200-DMA continues to cap with bulls needing a close above

Sgd1.3415 to confirm a break and to shift initial focus to Sgd1.3498-1.3538. The

break of Sgd1.3296 lacked follow through and sees pressure back on the 200-DMA.

Bears now need a close below Sgd1.3285 to gain breathing room and increase the

likelihood of a correction back to Sgd1.3133-1.3208 where key DMAs are noted.

Correcting O/B studies add weight to the bearish case.

     DOLLAR-WON TECHS: Broad Sideways Trading Continues

*RES 4: Krw1095.2 - 200-DMA

*RES 3: Krw1087.6 - High Mar 1

*RES 2: Krw1085.5 - High Mar 23

*RES 1: Krw1081.8 - High May 7

*PRICE: Krw1078.0 @ 2300GMT

*SUP 1: Krw1072.0 - 21-DMA

*SUP 2: Krw1070.7 - 55-DMA

*SUP 3: Krw1065.5 - Daily Bull channel base

*SUP 4: Krw1064.9 - Low Apr 30

*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

Krw1095.2-1098.4 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: Bears Need Close Below Myr3.9250

*RES 4: Myr4.0450 - Monthly Low Dec 5 now resistance 

*RES 3: Myr4.0260 - High Jan 3 

*RES 2: Myr3.9932 - 200-WMA 

*RES 1: Myr3.9830 - Low Jan 8 now resistance

*PRICE: Myr3.9430 @ 2300GMT

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

*SUP 2: Myr3.9018 - 21-DMA 

*SUP 3: Myr3.8990 - 55-DMA

*SUP 4: Myr3.8890 - Low Apr 20

*COMMENTARY: The recovery from 2018 lows sees the pair gaining traction above

the 100-DMA (Myr3.9291) with focus now on tests of the 200-WMA. Bulls now need a

close above the 200-WMA to shift focus to Myr4.0260-0673 where the 200-DMA is

noted. O/B studies are the key concern for bulls. Bears now look for a close

below Myr3.9250 to ease bullish pressure and below Myr3.8890 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: Cnh6.3597 @ 2300GMT

*SUP 1: Cnh6.3402 - Low May 3

*SUP 2: Cnh6.3268 - High Apr 30 now support

*SUP 3: Cnh6.3091 - 55-DMA

*SUP 4: Cnh6.3083 - 21-DMA

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

(Cnh6.3563) 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 Cnh6.4475-4969

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: Php52.349 - Bollinger band top 

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

*RES 2: Php52.010 - 55-DMA 

*RES 1: Php51.950 - 21-DMA

*PRICE: Php51.903 @ 2300GMT

*SUP 1: Php51.538 - Low May 4 

*SUP 2: Php51.490 - 100-DMA 

*SUP 3: Php51.400 - Low Feb 9 

*SUP 4: Php51.231 - 200-DMA

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

currently focused on the broad Php51.030-538 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: Bullish Confidence Growing

*RES 4: Thb32.39 - Low Jan 2 now support 

*RES 3: Thb32.33 - 200-DMA 

*RES 2: Thb32.06 - Alternating daily support/resistance 

*RES 1: Thb31.92 - Monthly High Feb 8

*PRICE: Thb31.83 @ 2300GMT

*SUP 1: Thb31.80 - High May 7 now support 

*SUP 2: Thb31.58 - Low May 3 

*SUP 3: Thb31.45 - Low Apr 30, 21-DMA 

*SUP 4: Thb31.39 - Alternating daily support/resistance

*COMMENTARY: Bulls take comfort in the rally to start the new week that sees

pressure now on Thb31.92-32.06. Bulls need a close above this region to add

support to the case for a test of the 200-DMA. O/B daily studies are the key

concern for bulls. Bears now need a close below Thb31.58 to ease bullish

pressure and below the 55-DMA (Thb31.35) to shift focus back to tests of 2018

lows.

     DOLLAR-IDR TECHS: Immediate Focus On Idr14090

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

*RES 3: Idr14090 - Monthly High Dec 14 2015 

*RES 2: Idr14006 - Bollinger band top 

*RES 1: Idr14000 - 2018 High May 7

*PRICE: Idr13995 @ 2300GMT

*SUP 1: Idr13975 - 2016 High Jan 7 now support 

*SUP 2: Idr13910 - High Apr 30 now support 

*SUP 3: Idr13860 - Low Apr 30 

*SUP 4: Idr13800 - High Mar 1 now support

*COMMENTARY: Monday's rally resulted in a close above 2016 highs and reconfirms

initial focus on Idr14090 and overall focus on Idr14480. Daily studies lingering

at O/B levels are the key concern for bulls. Initial support is now noted at the

old 2016 highs with bears needing a close below to gain breathing room. Below

Idr13860 is needed to shift focus back to Idr13780-800 where the 55-DMA is

found.

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

[TOPICS: MTABLE]