MNI Dollar-Asia Morning FX Technical Analysis

29 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: Sgd1.3459 - 55-WMA, High May 21

*PRICE: Sgd1.3426 @ 2300GMT

*SUP 1: Sgd1.3391 - 21-DMA 

*SUP 2: Sgd1.3365 - 200-DMA 

*SUP 3: Sgd1.3285 - Low May 4 

*SUP 4: Sgd1.3240 - 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 (Sgd1.3391) and to

shift initial focus to Sgd1.3285. Below this level is then needed to pressure 55

& 100-DMAs. Bulls still need a close above Sgd1.3538 to confirm traction above

the 55-WMA and to focus on 200 (Sgd1.3621) & 100 (Sgd1.3680) WMAs.

     DOLLAR-WON TECHS: Bears Need Close Below 55-DMA

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

*RES 3: Krw1090.8 - 200-DMA

*RES 2: Krw1087.6 - High Mar 1

*RES 1: Krw1086.7 - High May 21

*PRICE: Krw1073.4 @ 2300GMT

*SUP 1: Krw1071.3 - 55-DMA

*SUP 2: Krw1066.9 - 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 Krw1090.8-1098.4 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).

     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: Myr4.0050 - 200-WMA 

*RES 1: Myr3.9870 - High May 24

*PRICE: Myr3.9800 @ 2300GMT

*SUP 1: Myr3.9620 - Low May 22 

*SUP 2: Myr3.9545 - 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

(Myr4.0430). Modestly O/B daily studies remain a concern for bulls as does the

Bollinger top (Myr3.9926). 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: 21 & 55-DMAs Key Supports

*RES 4: Cnh6.4657 - Low Jan 8 now resistance 

*RES 3: Cnh6.4637 - 200-DMA 

*RES 2: Cnh6.4475 - High Jan 16 

*RES 1: Cnh6.4140 - Alternating daily support/resistance

*PRICE: Cnh6.3949 @ 2300GMT

*SUP 1: Cnh6.3889 - High May 25 now support

*SUP 2: Cnh6.3642 - High May 22 now support

*SUP 3: Cnh6.3600 - 21-DMA

*SUP 4: Cnh6.3317 - 100-DMA

*COMMENTARY: The 21-DMA has provided the base for a break higher that now sees

focus on Cnh6.4140. Bulls need a close above this level to add support to the

case for a test of the Cnh6.4475-4996 region where the 200-DMA and 200-WMA

(Cnh6.4996) are situated. Bears continue to look for a close below the 21-DMA to

ease bullish pressure and below the 55-DMA to hint at a move back to 2018 lows.

     DOLLAR-PHP TECHS: Bears Need Close Below Php52.381

*RES 4: Php53.071 - High July 3 2006 

*RES 3: Php52.940 - High July 25 2006 

*RES 2: Php52.770 - Bollinger band top 

*RES 1: Php52.718 - 2018 High May 25

*PRICE: Php52.595 @ 2300GMT

*SUP 1: Php52.381 - Low May 28 

*SUP 2: Php52.103 - 55-DMA 

*SUP 3: Php52.056 - High May 10 now support 

*SUP 4: Php51.911 - Daily Bull channel base

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

in fresh 2018 & nearly 12yr highs although follow through has been lacking

courtesy of the Bollinger band top. Bulls now focus on Php53.940-53.071 last

seen in July 2006. Initial support is noted at Php52.381 with bears needing a

close below to gain breathing room and target a correction back to Php51.715-103

where the 5 & 100-DMAs and daily bull channel base are found.

     DOLLAR-THB TECHS: Thb31.75 Support Key This Week

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

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

*RES 2: Thb32.24 - 200-DMA 

*RES 1: Thb32.17 - High May 22

*PRICE: Thb31.98 @ 2300GMT

*SUP 1: Thb31.75 - Low May 14 

*SUP 2: Thb31.58 - Low May 3 

*SUP 3: Thb31.53 - 100-DMA 

*SUP 4: Thb31.52 - 55-DMA

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

2018 lows. The correction lower sees the pair flirting with the 21-DMA

(Thb31.95). The Thb31.75 support is key this week. Bears need a close below this

level to confirm a return in focus to Thb31.32-58 where 55 & 100-DMAs are

located. Bulls continue to look for a close above Thb32.39 to confirm a break of

the 200-DMA and focus on the 55-WMA (Thb32.61).

     DOLLAR-IDR TECHS: Focus Shifts To Idr13860-13910

*RES 4: Idr14210 - 2018 High May 23 

*RES 3: Idr14110 - Alternating daily support/resistance 

*RES 2: Idr14080 - High May 28 now support 

*RES 1: Idr14038 - 21-DMA

*PRICE: Idr13985 @ 2300GMT

*SUP 1: Idr13910 - High Apr 30 now support 

*SUP 2: Idr13879 - 55-DMA 

*SUP 3: Idr13860 - Low Apr 30 

*SUP 4: Idr13800 - High Mar 1 now support

*COMMENTARY: Hesitation ahead of recent 2018 highs has taken its toll with a

gapping move lower Monday that shifts focus to Idr13860-910 where the 55-DMA is

located. Correcting O/B studies add weight to the bearish case with a close

below Idr13860 shifting focus to Idr13725-800 where the 100-DMA is found. Bulls

now need a close above Idr14110 to regain the upper hand and return initial

focus to 2018 highs.

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

[TOPICS: MTABLE]