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(Z1) Bearish Trend Condition


(Z1) Bearish Price Sequence


(Z1) Off Recent Highs


(Z1)‌‌ Support Appears Exposed

15 May 2018
By Kyle Shortland
Please click on this link to access MNI's daily Dollar-Asia FX Technical
Analysis Pdf
DOLLAR-SING TECHS: Bears Need Close Below 21-DMA
*RES 4: Sgd1.3496 - High Dec 18 
*RES 3: Sgd1.3481 - 55-WMA 
*RES 2: Sgd1.3413 - Hourly resistance May 10 
*RES 1: Sgd1.3385 - High May 11
*PRICE: Sgd1.3357 @ 2300GMT
*SUP 1: Sgd1.3285 - Low May 4, 21-DMA 
*SUP 2: Sgd1.3206 - 100-DMA 
*SUP 3: Sgd1.3193 - 55-DMA 
*SUP 4: Sgd1.3173 - High Apr 20 now support
*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 the 21-DMA to shift initial focus to Sgd1.3173-1.3206 where key DMAs are
located. Bulls now need a close above the 55-WMA to target the 200-WMA
     DOLLAR-WON TECHS: Bulls Need Close Above 21-DMA
*RES 4: Krw1087.6 - High Mar 1
*RES 3: Krw1085.5 - High Mar 23
*RES 2: Krw1082.7 - High May 9
*RES 1: Krw1072.5 - 21-DMA
*PRICE: Krw1069.1 @ 2300GMT
*SUP 1: Krw1061.6 - 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. Bulls now need a close above the
21-DMA to gain breathing room.
     DOLLAR-MYR TECHS: Topside Follow Through Lacking
*RES 4: Myr4.0589 - 200-DMA 
*RES 3: Myr4.0450 - Monthly Low Dec 5 now resistance 
*RES 2: Myr4.0260 - High Jan 3 
*RES 1: Myr3.9971 - 200-WMA
*PRICE: Myr3.9480 @ 2300GMT
*SUP 1: Myr3.9250 - High Mar 16 now support 
*SUP 2: Myr3.9197 - 21-DMA 
*SUP 3: Myr3.9027 - 55-DMA 
*SUP 4: Myr3.8890 - Low Apr 20
*COMMENTARY: An aggressive spike to start the new week lacked topside traction
and was rejected ahead of the 200-WMA. O/B daily studies remain a key concern
for bulls. In saying that, bears now need a close below the 21-DMA to ease
bullish pressure and below Myr3.8890 to shift focus back to 2018 lows. Bulls now
look for a close above the 200-WMA to confirm focus on the 200-DMA (Myr4.0589).
     DOLLAR-CNH TECHS: 21-DMA Supporting
*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: Cnh6.3454 - 100-DMA
*PRICE: Cnh6.3369 @ 2300GMT
*SUP 1: Cnh6.3245 - 21-DMA
*SUP 2: Cnh6.3106 - 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 last week. The
close below the 100-DMA left 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: Focus Shifts To Php52.940-53.071
*RES 4: Php53.071 - High July 3 2006 
*RES 3: Php52.940 - High July 25 2006 
*RES 2: Php52.597 - 2018 High May 14 
*RES 1: Php52.537 - Bollinger band top
*PRICE: Php51.973 @ 2300GMT
*SUP 1: Php52.300 - Low May 14 
*SUP 2: Php51.170 - Alternating daily support/resistance 
*SUP 3: Php52.056 - High May 10 now resistance 
*SUP 4: Php52.037 - 55-DMA
*COMMENTARY: Gains continued Monday with fresh 2018 & 12yr highs now seeing
bulls focused on Php52.94-53.071 where levels last seen in July 2006 are found.
The Bollinger top and O/B studies remain key concerns for bulls. In saying that,
bears now need a close below Php52.30 to ease bullish pressure and shift initial
focus back to Php52.021-038 where 21 & 55-DMAs are situated.
     DOLLAR-THB TECHS: Support Emerging On Dips
*RES 4: Thb32.58 - 2018 High Jan 2 
*RES 3: Thb32.39 - Low Jan 2 now support 
*RES 2: Thb32.30 - 200-DMA 
*RES 1: Thb32.22 - High May 10
*PRICE: Thb31.91 @ 2300GMT
*SUP 1: Thb31.76 - Low May 14 
*SUP 2: Thb31.64 - 21-DMA 
*SUP 3: Thb31.58 - Low May 3 
*SUP 4: Thb31.40 - 55-DMA
*COMMENTARY: Support is starting to emerge on dips following the aggressive
rejection ahead of the 200-DMA last week. Layers of support remain with bears
continuing to look for a close below the 55-DMA now to shift focus back to 2018
lows. Bulls now need a close above Thb32.39 to confirm a break of the 200-DMA
and initially target the 55-WMA (Thb32.70).
     DOLLAR-IDR TECHS: Bullish Pressure Eased
*RES 4: Idr14091 - Bollinger band top 
*RES 3: Idr14090 - Monthly High Dec 14 2015 
*RES 2: Idr14050 - Alternating daily support/resistance 
*RES 1: Idr13985 - High May 14
*PRICE: Idr13965 @ 2300GMT
*SUP 1: Idr13912 - 21-DMA 
*SUP 2: Idr13910 - High Apr 30 now support 
*SUP 3: Idr13860 - Low Apr 30 
*SUP 4: Idr13815 - 55-DMA
*COMMENTARY: Fresh 2018 and 2+ yr highs remained capped ahead of the Dec 2015
monthly highs last week with O/B daily studies now impacting. The sell-off and
bearish close left the pair looking heavy and hinting at a correction back to
the 55-DMA with a close below the 21-DMA to add weight to their case. Bulls
continue to look for a close above Idr14090 to shift overall focus to Idr14480.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: