MNI Dollar-Asia Morning FX Technical Analysis

11 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: 55-WMA Capping

*RES 4: Sgd1.3538 - High Dec 8 

*RES 3: Sgd1.3496 - High Dec 18 

*RES 2: Sgd1.3492 - 55-WMA 

*RES 1: Sgd1.3413 - Hourly resistance May 10

*PRICE: Sgd1.3374 @ 2300GMT

*SUP 1: Sgd1.3332 - Low May 8 

*SUP 2: Sgd1.3285 - Low May 4 

*SUP 3: Sgd1.3263 - 21-DMA 

*SUP 4: Sgd1.3207 - 100-DMA

*COMMENTARY: The 55-WMA confirmed significance Thursday with it capping the

recovery from Apr lows and the rejection leaving the pair looking offered.

Correcting O/B daily studies are also seen weighing. Bears now look for a close

below Sgd1.3332 to confirm focus on Sgd1.3173-1.3285 where key DMAs are located.

Bulls now need a close above the 55-WMA to target the 200-WMA (Sgd1.3606).

     DOLLAR-WON TECHS: Broad Sideways Trading Continues

*RES 4: Krw1087.6 - High Mar 1

*RES 3: Krw1085.5 - High Mar 23

*RES 2: Krw1082.7 - High May 9

*RES 1: Krw1072.3 - 21-DMA

*PRICE: Krw1064.4 @ 2300GMT

*SUP 1: Krw1061.3 - Bollinger band base

*SUP 2: Krw1058.7 - Low Apr 19

*SUP 3: Krw1052.0 - 2018 Low Apr 2

*SUP 4: Krw1045.6 - Monthly Low Oct 29 2014

*COMMENTARY: Failure to trouble the Krw1087.6 resistance has resulted in a

correction lower and close below key supports that sees focus return to the

Krw1052.0-1058.7 region where 2018 lows are noted. Bears need a close below 2018

lows to initially pressure Oct 2014 monthly lows with a close below then

targeting Krw1000.0-1010.9 last seen in 2014.

     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: Myr3.9480 @ 2300GMT

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

*SUP 2: Myr3.9130 - 21-DMA 

*SUP 3: Myr3.9013 - 55-DMA 

*SUP 4: Myr3.8890 - Low Apr 20

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

the 100-DMA (Myr3.9252) with focus now on tests of the 200-WMA. Bulls now need a

close above the 200-WMA to shift focus to Myr4.0260-0623 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: Focus Returns To The 55-DMA

*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: Cnh6.3496 - 100-DMA

*PRICE: Cnh6.3295 @ 2300GMT

*SUP 1: Cnh6.3178 - 21-DMA

*SUP 2: Cnh6.3096 - 55-DMA

*SUP 3: Cnh6.2913 - Low Apr 24

*SUP 4: Cnh6.2538 - Low Apr 2

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

with the pair rejected ahead of the key Cnh6.3870 resistance. The close below

the 100-DMA leaves the pair looking heavy and pressuring 21 & 55-DMAs. Bears now

look for a close below Cnh6.2913 to confirm breaks of 21 & 55-DMAs and to shift

initial focus back to 2018 lows. Bulls now need a close above the 100-DMA to

gain breathing room.

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

*RES 4: Php52.483 - High Apr 24 

*RES 3: Php52.349 - Bollinger band top 

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

*RES 1: Php52.056 - High May 10

*PRICE: Php51.973 @ 2300GMT

*SUP 1: Php51.715 - Low May 10 

*SUP 2: Php51.538 - Low May 4 

*SUP 3: Php51.526 - 100-DMA 

*SUP 4: Php51.400 - Low Feb 9

*COMMENTARY: Follow through on pops above 21 & 55-DMAs remains lacking although

bulls take comfort in support layers building. Bears now look for a close below

Php51.715 to ease pressure on DMAs and shift focus back to Php51.248-538 where

100 & 200-DMAs are located. Bulls continue to look for a close above Php52.170

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

     DOLLAR-THB TECHS: Aggressively Rejected Ahead Of 200-DMA

*RES 4: Thb32.58 - 2018 High Jan 2 

*RES 3: Thb32.39 - Low Jan 2 now support 

*RES 2: Thb32.31 - 200-DMA 

*RES 1: Thb32.22 - High May 10

*PRICE: Thb31.95 @ 2300GMT

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

*SUP 2: Thb31.58 - Low May 3 

*SUP 3: Thb31.57 - 21-DMA 

*SUP 4: Thb31.38 - 55-DMA

*COMMENTARY: The recovery from Apr lows appears to be in trouble with the pair

aggressively rejected ahead of the 200-DMA. Daily studies correcting from O/B

are a concern for bulls and add weight to the case for a correction back to

Thb31.32-58 where key DMAs are noted. Bulls now need a close above Thb32.39 to

confirm a break of the 200-DMA and initially target the 55-WMA (Thb32.75).

     DOLLAR-IDR TECHS: Immediate Focus On Idr14090

*RES 4: Idr14620 - Low Oct 1 2015 now resistance 

*RES 3: Idr14480 - Low Oct 5 2015 now resistance 

*RES 2: Idr14090 - Monthly High Dec 14 2015 

*RES 1: Idr14088 - Bollinger band top

*PRICE: Idr14070 @ 2300GMT

*SUP 1: Idr14050 - High May 7 now support 

*SUP 2: Idr13975 - 2016 High Jan 7 now support 

*SUP 3: Idr13910 - High Apr 30 now support 

*SUP 4: Idr13860 - Low Apr 30

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

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

Idr14050 with bears needing a close below to ease immediate bullish pressure.

Below Idr13975 remains needed to shift initial focus back to Idr13860-910.

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

[TOPICS: MTABLE]