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MNI Dollar-Asia Morning FX Technical Analysis
25 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, High May 21
*PRICE: Sgd1.3390 @ 2300GMT
*SUP 1: Sgd1.3373 - 21-DMA
*SUP 2: Sgd1.3367 - 200-DMA
*SUP 3: Sgd1.3285 - Low May 4
*SUP 4: Sgd1.3229 - 55-DMA
*COMMENTARY: The 21-DMA supports while the 55-WMA currently caps. Bears look for
a close below the 200-DMA to confirm a break of the 21-DMA (Sgd1.3373) 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 (Sgd1.3680) WMAs.
DOLLAR-WON TECHS: Broad Sideways Trading Continues
*RES 4: Krw1098.4 - 2018 High Feb 6
*RES 3: Krw1091.5 - 200-DMA
*RES 2: Krw1087.6 - High Mar 1
*RES 1: Krw1086.7 - High May 21
*PRICE: Krw1080.4 @ 2300GMT
*SUP 1: Krw1071.0 - 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 Krw1091.5-1098.4 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). The Bollinger top is noted at
Krw1085.3 and currently limits follow through.
DOLLAR-MYR TECHS: Pressure Returns To 200-WMA
*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: Myr3.9870 - High May 24
*PRICE: Myr3.9790 @ 2300GMT
*SUP 1: Myr3.9620 - Low May 22
*SUP 2: Myr3.9484 - 21-DMA
*SUP 3: Myr3.9400 - Low May 14
*SUP 4: Myr3.9250 - High Mar 16 now support
*COMMENTARY: Fresh 4mth highs were noted Thursday with immediate focus on the
200-WMA. Bulls need a close above the 200-WMA to initially target the 200-DMA
(Myr4.0461). Modestly O/B daily studies remain a concern for bulls as does the
Bollinger top (Myr3.9889). 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.
DOLLAR-CNH TECHS: Bollinger Top Limiting Follow Through
*RES 4: Cnh6.4475 - High Jan 16
*RES 3: Cnh6.4140 - Alternating daily support/resistance
*RES 2: Cnh6.3896 - High May 24
*RES 1: Cnh6.3874 - Bollinger band top
*PRICE: Cnh6.3748 @ 2300GMT
*SUP 1: Cnh6.3517 - 21-DMA
*SUP 2: Cnh6.3339 - 100-DMA
*SUP 3: Cnh6.3159 - 55-DMA
*SUP 4: Cnh6.2913 - Low Apr 24
*COMMENTARY: Bulls take comfort in the 21-DMA supporting and pressure returning
to the Cnh6.6875 resistance. The break of this level has lacked follow through
courtesy of the Bollinger band top. Bulls now need a close above Cnh6.3896 to
focus on Cnh6.4475-5017 where 200-DMA (Cnh6.4664) & 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: Php52.662 - Bollinger band top
*PRICE: Php52.482 @ 2300GMT
*SUP 1: Php52.081 - 55-DMA
*SUP 2: Php52.070 - 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
Php51.715-770 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: Thb32.25 - 200-DMA
*RES 1: Thb32.17 - High May 22
*PRICE: Thb31.99 @ 2300GMT
*SUP 1: Thb31.94 - Low May 17
*SUP 2: Thb31.91 - 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: Idr14130 @ 2300GMT
*SUP 1: Idr14110 - High May 16 now support
*SUP 2: Idr14035 - High May 15 now support
*SUP 3: Idr14022 - 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
Idr1.3800-869 where the 55-DMA (Idr13869) is found. The Bollinger top (Idr14219)
is the key concern for bulls.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.