MNI Dollar-Asia Morning FX Technical Analysis

30 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: 200-DMA & Sgd1.3538 Levels Remain Key

*RES 4: Sgd1.3538 - High Dec 12 

*RES 3: Sgd1.3496 - High Dec 18 

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

*RES 1: Sgd1.3460 - 55-WMA

*PRICE: Sgd1.3451 @ 2300GMT

*SUP 1: Sgd1.3417 - Low May 29 

*SUP 2: Sgd1.3398 - 21-DMA 

*SUP 3: Sgd1.3364 - 200-DMA 

*SUP 4: Sgd1.3285 - Low May 4

*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 (Sgd1.3398) 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: 55-DMA Currently Supporting

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

*RES 3: Krw1090.7 - 200-DMA

*RES 2: Krw1087.6 - High Mar 1

*RES 1: Krw1086.7 - High May 21

*PRICE: Krw1083.9 @ 2300GMT

*SUP 1: Krw1071.8 - 55-DMA

*SUP 2: Krw1067.0 - Bollinger band base

*SUP 3: Krw1063.3 - Low May 10

*SUP 4: Krw1058.7 - Low Apr 19

*COMMENTARY: Bulls take comfort in the 55-DMA supporting with pressure having

returned to resistance layers. Bulls need a close above Krw1087.6 to confirm

focus on Krw1090.7-1098.4 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).

     DOLLAR-MYR TECHS: Hesitating Around 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: Myr3.9573 - 21-DMA 

*SUP 3: Myr3.9400 - Low May 14 

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

*COMMENTARY: Fresh 4mth highs were noted last Thursday with immediate focus on

the 200-WMA. Bulls need a close above the 200-WMA to initially target the

200-DMA (Myr4.0415). Modestly O/B daily studies remain a concern for bulls as

does the Bollinger top (Myr3.9937). Bears now need a close below the 21-DMA to

ease bullish pressure and below the 55-DMA (Myr3.9158) to hint at a move back to

2018 lows.

     DOLLAR-CNH TECHS: Bulls Focused On 200 DMA & WMA

*RES 4: Cnh6.4998 - 200-WMA 

*RES 3: Cnh6.4657 - Low Jan 8 now resistance 

*RES 2: Cnh6.4627 - 200-DMA 

*RES 1: Cnh6.4475 - High Jan 16

*PRICE: Cnh6.4229 @ 2300GMT

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

*SUP 2: Cnh6.3889 - High May 25 now support

*SUP 3: Cnh6.3653 - 21-DMA

*SUP 4: Cnh6.3642 - High May 22 now support

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

focus on the Cnh6.4475-4998 region where the 200-DMA and 200-WMA are situated.

Daily studies approaching O/B and the Bollinger top (Cnh6.4145) are now concerns

for bulls. In saying that, bears need a close below Cnh6.3899 to ease bullish

pressure and below Cnh6.3642 to shift focus back to Cnh6.3214-3402 where 55 &

100-DMAs are found.

     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: Php52.843 - Bollinger band top 

*RES 1: Php52.771 - 2018 High May 29

*PRICE: Php52.651 @ 2300GMT

*SUP 1: Php52.381 - Low May 28 

*SUP 2: Php52.126 - 55-DMA 

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

*SUP 4: Php51.933 - 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 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 Php51.715-126 where

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

     DOLLAR-THB TECHS: Focus Back on 200-DMA

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

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

*RES 2: Thb32.23 - 200-DMA 

*RES 1: Thb32.17 - High May 22

*PRICE: Thb32.09 @ 2300GMT

*SUP 1: Thb31.95 - Low May 29 

*SUP 2: Thb31.75 - Low May 14 

*SUP 3: Thb31.58 - Low May 3 

*SUP 4: Thb31.54 - 55-DMA

*COMMENTARY: Bulls take comfort in the failure to gain traction below the 21-DMA

(Thb31.98) with pressure having returned to the 200-DMA which confirmed

significance last week. 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). Bears now

need a close below Thb31.95 to gain breathing room and below Thb31.75 to return

focus to Thb31.32-58 where 55 & 100-DMAs are located.

     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: Idr14041 - 21-DMA

*PRICE: Idr13985 @ 2300GMT

*SUP 1: Idr13910 - High Apr 30 now support 

*SUP 2: Idr13883 - 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 Idr13730-800 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]