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]