MNI Dollar-Asia Morning FX Technical Analysis

21 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: Sgd1.3471 - 55-WMA

*PRICE: Sgd1.3425 @ 2300GMT

*SUP 1: Sgd1.3372 - 200-DMA 

*SUP 2: Sgd1.3347 - 21-DMA 

*SUP 3: Sgd1.3285 - Low May 4 

*SUP 4: Sgd1.3208 - 100-DMA

*COMMENTARY: Pressure remains on the 55-WMA that capped previously 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 (Sgd1.3616). Bears still need a close below the 200-DMA to ease

bullish pressure and below Sgd1.3285 to shift focus to Sgd1.3133-1.3208 where 55

& 100-DMAs are noted.

     DOLLAR-WON TECHS: Broad Sideways Trading Continues

*RES 4: Krw1098.4 - 2018 High Feb 6

*RES 3: Krw1092.7 - 200-DMA

*RES 2: Krw1087.6 - High Mar 1

*RES 1: Krw1085.5 - High Mar 23

*PRICE: Krw1081.0 @ 2300GMT

*SUP 1: Krw1075.5 - 21-DMA

*SUP 2: Krw1065.2 - 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 Krw1092.7-1098.4 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: Myr3.9972 - 200-WMA 

*RES 1: Myr3.9850 - High May 14

*PRICE: Myr3.9700 @ 2300GMT

*SUP 1: Myr3.9400 - Low May 14 

*SUP 2: Myr3.9250 - High Mar 16 now support 

*SUP 3: Myr3.9185 - 100-DMA 

*SUP 4: Myr3.9065 - 55-DMA

*COMMENTARY: Gains defined last week with bulls dominating despite daily studies

lingering at O/B levels. In saying that, bears now need a close below Myr3.9400

to gain breathing room and below the 55-DMA to hint at a move back to 2018 lows.

Bulls now need a close above the 200-WMA to confirm focus on the 200-DMA

(Myr4.0525).

     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: Cnh6.3606 @ 2300GMT

*SUP 1: Cnh6.3412 - 21-DMA

*SUP 2: Cnh6.3389 - 100-DMA

*SUP 3: Cnh6.3122 - 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 (Cnh6.4728) & 200-WMA (Cnh6.4984) 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: Php52.940 - High July 25 2006 

*RES 3: Php52.677 - 2018 High May 15 

*RES 2: Php52.588 - Bollinger band top 

*RES 1: Php52.470 - High May 18

*PRICE: Php52.279 @ 2300GMT

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

*SUP 2: Php52.054 - 55-DMA 

*SUP 3: Php52.043 - 21-DMA 

*SUP 4: Php51.715 - Low May 10

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

pressure return to 21 & 55-DMAs. Bears 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 Php51.669. Bulls now need a close above

Php52.677 2018 highs to 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: Thb32.28 - 200-DMA 

*RES 1: Thb32.23 - High May 18

*PRICE: Thb32.06 @ 2300GMT

*SUP 1: Thb31.94 - Low May 17 

*SUP 2: Thb31.82 - 21-DMA 

*SUP 3: Thb31.75 - Low May 14 

*SUP 4: Thb31.58 - Low May 3

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

towards layers of resistance Thb32.23-39 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 (Thb32.66). Layers of support remain with bears

needing a close below Thb31.94 to ease bullish pressure and below the Thb31.75

to shift focus back to Thb31.32-58.

     DOLLAR-IDR TECHS: Bulls Focused On 2015 High

*RES 4: Idr14730 - 2015 High Sept 29 

*RES 3: Idr14620 - Low Oct 1 2015 now resistance 

*RES 2: Idr14480 - Low Oct 5 2015 now resistance 

*RES 1: Idr14155 - 2018 High May 18

*PRICE: Idr14150 @ 2300GMT

*SUP 1: Idr14110 - High May 16 now support 

*SUP 2: Idr14035 - High May 15 now support 

*SUP 3: Idr13985 - High May 14 now support 

*SUP 4: Idr13953 - 21-DMA

*COMMENTARY: Bears failed to capitalise on dips last week with Friday's rally

reconfirming the bullish bias and 2018 highs seeing immediate focus on

Idr14480-720 where 2015 highs are situated. Bears now need a close below

Idr14110 to gain breathing room. Below the 21-DMA is needed to target a

correction back to Idr1.3800-860 where the 55-DMA (Idr13840) is found. The

Bollinger top (Idr14131) is the key concern for bulls.

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

[TOPICS: MTABLE]