MNI Dollar-Asia Morning FX Technical Analysis

24 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: Sgd1.3428 @ 2300GMT

*SUP 1: Sgd1.3400 - Hourly support May 23 

*SUP 2: Sgd1.3368 - 21-DMA, 200-DMA 

*SUP 3: Sgd1.3285 - Low May 4 

*SUP 4: Sgd1.3225 - 55-DMA

*COMMENTARY: The 21-DMA supports while the 55-WMA currently caps. 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 traction above the

55-WMA and to focus on 200 (Sgd1.3616) & 100 (Sgd1.3681) WMAs.

     DOLLAR-WON TECHS: Broad Sideways Trading Continues

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

*RES 3: Krw1091.7 - 200-DMA

*RES 2: Krw1087.6 - High Mar 1

*RES 1: Krw1083.0 - High May 23

*PRICE: Krw1075.6 @ 2300GMT

*SUP 1: Krw1070.6 - 55-DMA

*SUP 2: Krw1065.4 - 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 Krw1091.7-1098.4 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: Myr4.0012 - 200-WMA 

*RES 1: Myr3.9850 - High May 14

*PRICE: Myr3.9800 @ 2300GMT

*SUP 1: Myr3.9620 - Low May 22 

*SUP 2: Myr3.9451 - 21-DMA 

*SUP 3: Myr3.9400 - Low May 14 

*SUP 4: Myr3.9250 - High Mar 16 now support

*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 Myr3.9620

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 (Myr4.0477).

     DOLLAR-CNH TECHS: Cnh6.3875 Resistance 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: Cnh6.3845 - Bollinger band top

*PRICE: Cnh6.3703 @ 2300GMT

*SUP 1: Cnh6.3492 - 21-DMA

*SUP 2: Cnh6.3349 - 100-DMA

*SUP 3: Cnh6.3150 - 55-DMA

*SUP 4: Cnh6.2913 - Low Apr 24

*COMMENTARY: Bulls take comfort in the 21-DMA supporting on dips and pressure

returning to the Cnh6.6875 resistance. Bulls need a close above this level to

shift initial focus to Cnh6.4140 and overall focus to Cnh6.4475-5017 where

200-DMA (Cnh6.4679) & 200-WMA (Cnh6.4985) are situated. 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.

     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: Php52.651 - Bollinger band top

*PRICE: Php52.270 @ 2300GMT

*SUP 1: Php52.080 - 55-DMA 

*SUP 2: Php52.067 - 21-DMA 

*SUP 3: Php51.769 - 100-DMA 

*SUP 4: Php51.715 - Low May 10

*COMMENTARY: Support emerging on dips back towards the 21 & 55-DMAs provides

bulls comfort but a close above Php52.677 2018 highs remains needed to reconfirm

focus on Php52.940-53.071 last seen in July 2006. O/B daily studies remain a

concern for bulls. Bears still need a close below the 21-DMA to confirm an

easing of bullish pressure and initially target a correction back to

Php51.715-769 where the 100-DMA is located.

     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: Thb32.17 - High May 22

*PRICE: Thb32.11 @ 2300GMT

*SUP 1: Thb31.94 - Low May 17 

*SUP 2: Thb31.90 - 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 the 21-DMA now to confirm an easing of bullish pressure and hint

at a move back to Idr31.32-58 where 55 & 100-DMAs are noted. Bulls continue to

look for 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: Idr14210 - 2018 High May 23

*PRICE: Idr14150 @ 2300GMT

*SUP 1: Idr14110 - High May 16 now support 

*SUP 2: Idr14035 - High May 15 now support 

*SUP 3: Idr14012 - 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 fresh 2018 highs seeing immediate focus on

Idr14480-720 where 2015 highs are situated. Bears need a close below Idr14110 to

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

Idr1.3800-862 where the 55-DMA (Idr13862) is found. The Bollinger top (Idr14207)

is the key concern for bulls.

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

[TOPICS: MTABLE]