MNI Dollar-Asia Morning FX Technical Analysis

17 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 200-DMA

*RES 4: Sgd1.3538 - High Dec 12 

*RES 3: Sgd1.3496 - High Dec 18 

*RES 2: Sgd1.3489 - 2018 High May 10 

*RES 1: Sgd1.3482 - 55-WMA

*PRICE: Sgd1.3399 @ 2300GMT

*SUP 1: Sgd1.3373 - 200-DMA 

*SUP 2: Sgd1.3318 - 21-DMA 

*SUP 3: Sgd1.3285 - Low May 4 

*SUP 4: Sgd1.3207 - 100-DMA

*COMMENTARY: Pressure remains on the 55-WMA that capped last week following

support emerging on dips back to the 21-DMA. Consolidation above the 200-DMA

adds support to the case for the break of Sgd1.3538 needed to confirm focus on

the 200-WMA (Sgd1.3611). Bears still need a close below the 200-DMA to ease

bullish pressure and below Sgd1.3285 to shift focus to Sgd1.3133-1.3207 where 55

& 100-DMAs are noted.

     DOLLAR-WON TECHS: Broad Sideways Trading Continues

*RES 4: Krw1093.2 - 200-DMA

*RES 3: Krw1087.6 - High Mar 1

*RES 2: Krw1085.5 - High Mar 23

*RES 1: Krw1083.5 - High May 16

*PRICE: Krw1079.4 @ 2300GMT

*SUP 1: Krw1074.0 - 21-DMA

*SUP 2: Krw1063.9 - Bollinger band base

*SUP 3: Krw1063.3 - Low May 10

*SUP 4: Krw1058.7 - Low Apr 19

*COMMENTARY: Topside follow through remains lacking as the pair remains capped

ahead of the Krw1087.6 resistance. Bulls need a close above Krw1087.6 to confirm

focus on Krw1093.6-1098.4 where the 200-DMA and 2018 high are located. Bears

need a close below the 21-DMA to return pressure to Krw1063.3 and below this

level to initially target 2018 lows (Krw1052.0). Daily studies are at neutral

levels and giving away few clues.

     DOLLAR-MYR TECHS: 200-WMA Resistance Key

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

*RES 3: Myr4.0260 - High Jan 3 

*RES 2: Myr3.9971 - 200-WMA 

*RES 1: Myr3.9850 - High May 14

*PRICE: Myr3.9650 @ 2300GMT

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

*SUP 2: Myr3.9202 - 100-DMA 

*SUP 3: Myr3.9045 - 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 100-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 (Myr4.0557).

     DOLLAR-CNH TECHS: Cnh6.3870 Resistance Key

*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: Cnh6.3835 - High May 9

*PRICE: Cnh6.3483 @ 2300GMT

*SUP 1: Cnh6.3418 - 100-DMA

*SUP 2: Cnh6.3329 - 21-DMA

*SUP 3: Cnh6.3115 - 55-DMA

*SUP 4: Cnh6.2913 - Low Apr 24

*COMMENTARY: Support around the 21-DMA has provided the base for a bounce back

towards Cnh6.3835-70 and closes above the 100-DMA. Bulls continue to look for a

close above Cnh6.3870 to shift initial focus to Cnh6.4140 and overall focus to

Cnh6.4475-5017 where 200-DMA (Cnh6.4759) & 200-WMA (Cnh6.4975) are situated.

Bears now need a close below the 55-DMA to ease bullish pressure and below

Cnh6.2913 to shift initial focus back to 2018 lows.

     DOLLAR-PHP TECHS: Bears Need Close Below 21-DMA

*RES 4: Php53.071 - High July 3 2006 

*RES 3: Php52.940 - High July 25 2006 

*RES 2: Php52.677 - 2018 High May 15 

*RES 1: Php52.554 - Bollinger band top

*PRICE: Php52.223 @ 2300GMT

*SUP 1: Php52.056 - High May 10 now resistance 

*SUP 2: Php52.040 - 55-DMA 

*SUP 3: Php52.027 - 21-DMA 

*SUP 4: Php51.715 - Low May 10

*COMMENTARY: Recent topside hesitation and a lack of follow through has resulted

in a sharp sell-off that sees pressure return to 21 & 55-DMAs. Bears now need a

close below the 21-DMA to confirm an easing of bullish pressure and initially

target a correction back to Php51.400-715 with the 100-DMA at Php51.623. Bulls

now need a close above Php52.677 2018 highs reo reconfirm focus on

Php52.940-53.071 last seen in July 2006.

     DOLLAR-THB TECHS: Hesitating Ahead Of 200-DMA

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

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

*RES 2: Thb32.29 - 200-DMA 

*RES 1: Thb32.22 - High May 10

*PRICE: Thb32.02 @ 2300GMT

*SUP 1: Thb31.75 - Low May 14 

*SUP 2: Thb31.73 - 21-DMA 

*SUP 3: Thb31.58 - Low May 3 

*SUP 4: Thb31.42 - 55-DMA

*COMMENTARY: Support emerging on dips has provided the impetus for a bounce back

towards layers of resistance Thb32.22-39 where the 200-DMA is located. Bulls

still need a close above Thb32.39 to confirm a break of the 200-DMA and

initially target the 55-WMA (Thb32.71). Layers of support remain with bears

needing a close below the 21-DMA to ease bullish pressure and below the 55-DMA

to shift focus back to 2018 lows.

     DOLLAR-IDR TECHS: Focus Returns To Idr14480-14620

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

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

*RES 2: Idr14111 - Bollinger band top 

*RES 1: Idr14110 - 2018 High May 16

*PRICE: Idr14088 @ 2300GMT

*SUP 1: Idr14035 - High May 15 now support 

*SUP 2: Idr13985 - High May 14 now support 

*SUP 3: Idr13940 - 21-DMA 

*SUP 4: Idr13910 - High Apr 30 now support

*COMMENTARY: Bulls take comfort in support emerging ahead of the 21-DMA with the

rally that followed seeing fresh 2018 & 2+yr highs. Fresh 2018 highs have also

reconfirmed the bullish bias and initial focus on the Idr14480-620 resistance

region. O/B studies and the Bollinger top capping are key concerns for bulls. In

saying that, bears now need a close below Idr14035 to gain breathing room.

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

[TOPICS: MTABLE]