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EURUSD TECHS

Key Support Remains Exposed

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Decent SONIA Action Tuesday

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Larger FX Option Pipeline

15 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 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
(Sgd1.3611).
     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: kyle.shortland@mni-news.com
[TOPICS: MTABLE]