MNI Dollar-Asia Morning FX Technical Analysis

23 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: Sgd1.3538 - High Dec 12 

*RES 3: Sgd1.3496 - High Dec 18 

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

*RES 1: Sgd1.3471 - 55-WMA, High May 21

*PRICE: Sgd1.3386 @ 2300GMT

*SUP 1: Sgd1.3360 - 21-DMA 

*SUP 2: Sgd1.3285 - Low May 4 

*SUP 3: Sgd1.3220 - 55-DMA 

*SUP 4: Sgd1.3210 - 100-DMA

*COMMENTARY: Hesitation around the 55-WMA is taking its toll with pressure

having returned to the 21-DMA. Bears look for a close below the 21-DMA to

confirm a break of the 200-DMA (Sgd1.3369) and to shift initial focus to

Sgd1.3285. Below this level is then needed to pressure 55 & 100-DMAs. Bulls now

need a close above Sgd1.3538 to confirm focus on 200 (Sgd1.3616) & 100

(Sgd1.3680) WMAs.

     DOLLAR-WON TECHS: Broad Sideways Trading Continues

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

*RES 3: Krw1092.1 - 200-DMA

*RES 2: Krw1087.6 - High Mar 1

*RES 1: Krw1078.8 - High May 22

*PRICE: Krw1081.0 @ 2300GMT

*SUP 1: Krw1070.6 - 55-DMA

*SUP 2: Krw1065.3 - 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 Krw1092.1-1098.4 where the 200-DMA and 2018 high are located. Bears

need a close below the 55-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: Myr4.0011 - 200-WMA 

*RES 1: Myr3.9850 - High May 14

*PRICE: Myr3.9655 @ 2300GMT

*SUP 1: Myr3.9400 - Low May 14 

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

*SUP 3: Myr3.9173 - 100-DMA 

*SUP 4: Myr3.9090 - 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 ease bullish pressure and below the 55-DMA to hint at a move back to 2018

lows. Bulls continue to look for a close above the 200-WMA to confirm focus on

the 200-DMA (Myr4.0492).

     DOLLAR-CNH TECHS: Cnh6.3875 Resistance Now Key

*RES 4: Cnh6.4475 - High Jan 16 

*RES 3: Cnh6.4140 - Alternating daily support/resistance 

*RES 2: Cnh6.3875 - High May 21 

*RES 1: Cnh6.3792 - Bollinger band top

*PRICE: Cnh6.3506 @ 2300GMT

*SUP 1: Cnh6.3458 - 21-DMA

*SUP 2: Cnh6.3359 - 100-DMA

*SUP 3: Cnh6.3141 - 55-DMA

*SUP 4: Cnh6.2913 - Low Apr 24

*COMMENTARY: The marginal break of Cnh6.3870 lacked follow through with pressure

now back on key DMAs Cnh6.3140-3457. Bears continue to look for a close below

the 55-DMA to ease bullish pressure and below Cnh6.2913 to shift initial focus

back to 2018 lows. The Cnh6.3875 resistance is now key with bulls needing a

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

Cnh6.4475-5017 where 200-DMA (Cnh6.4694) & 200-WMA (Cnh6.4984) are situated.

     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: Php52.596 - Bollinger band top 

*RES 1: Php52.478 - High May 21

*PRICE: Php52.270 @ 2300GMT

*SUP 1: Php52.071 - 55-DMA 

*SUP 2: Php52.049 - 21-DMA 

*SUP 3: Php51.742 - 100-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

Php51.715-742 with the 100-DMA at Php51.742. 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: 200-DMA Confirmed Significance

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

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

*RES 2: Thb32.26 - 200-DMA 

*RES 1: Thb32.12 - Low May 21 now resistance

*PRICE: Thb31.98 @ 2300GMT

*SUP 1: Thb31.94 - Low May 17 

*SUP 2: Thb31.87 - 21-DMA 

*SUP 3: Thb31.75 - Low May 14 

*SUP 4: Thb31.58 - Low May 3

*COMMENTARY: The 200-DMA confirmed significance having capped the recovery from

2018 lows. Immediate pressure has returned to initial support with bears needing

a close below Thb31.94 to confirm an easing of bullish pressure and hint at a

move back to Idr31.32-58 where 55 & 100-DMAs are noted. Bulls now need a close

above the 200-DMA to hint at a move to Thb32.66 where the 55-WMA is found.

     DOLLAR-IDR TECHS: Bears Need Close Below Idr14110

*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: Idr14200 - 2018 High May 21

*PRICE: Idr14150 @ 2300GMT

*SUP 1: Idr14110 - High May 16 now support 

*SUP 2: Idr14035 - High May 15 now support 

*SUP 3: Idr13997 - 21-DMA 

*SUP 4: Idr13985 - High May 14 now support

*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]