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(Z1) Bearish Outlook Remains Intact


Latest structure


Bond Bear Cycle Extends


14/23/49-week BTFs


Big selling volumes going through

6 June 2018
By Kyle Shortland
Please click on this link to access MNI's daily Dollar-Asia FX Technical
Analysis Pdf
DOLLAR-SING TECHS: Bulls Need Close Above Sgd1.3417
*RES 4: Sgd1.3450 - 55-WMA 
*RES 3: Sgd1.3417 - Low May 29 now resistance 
*RES 2: Sgd1.3398 - 21-DMA 
*RES 1: Sgd1.3368 - High June 5
*PRICE: Sgd1.3344 @ 2300GMT
*SUP 1: Sgd1.3328 - Low June 4 
*SUP 2: Sgd1.3285 - Low May 4 
*SUP 3: Sgd1.3265 - 55-DMA 
*SUP 4: Sgd1.3222 - 100-DMA
*COMMENTARY: Bears take comfort in Tuesday's marginal close below the 200-DMA
(Sgd1.3359) but continue to look for a close below Sgd1.3328 to confirm a break
and shift initial focus to Sgd1.3197-1.3285 where 55 &100-DMAs are located.
Bulls need a close above Sgd1.3417 to gain breathing room and above Sgd1.3538 to
confirm traction above the 55-WMA and to focus on 200 (Sgd1.3625) & 100
(Sgd1.3679) WMAs.
     DOLLAR-WON TECHS: Above 55-DMA To Gain Breathing Room
*RES 4: Krw1089.4 - 200-DMA
*RES 3: Krw1087.6 - High Mar 1
*RES 2: Krw1086.7 - High May 21
*RES 1: Krw1072.0 - 55-DMA
*PRICE: Krw1070.7 @ 2300GMT
*SUP 1: Krw1065.2 - Bollinger band base
*SUP 2: Krw1063.3 - Low May 10
*SUP 3: Krw1058.7 - Low Apr 19
*SUP 4: Krw1052.0 - 2018 Low Apr 2
*COMMENTARY: Bears take comfort in closes below the 55-DMA with immediate
bearish focus on Krw1063.3 and a close below this level needed to initially
target 2018 lows (Krw1052.0). Bulls continue to look for a close above the
55-DMA to gain breathing room and return focus to Krw1086.7-1089.4 where the
200-DMA is located. The Bollinger base is the key concern for bears with
potential to limit follow through.
     DOLLAR-MYR TECHS: Myr3.9620 Support Remains Key
*RES 4: Myr4.0450 - Monthly Low Dec 5 now resistance 
*RES 3: Myr4.0260 - High Jan 3 
*RES 2: Myr4.0088 - 200-WMA 
*RES 1: Myr3.9930 - High May 30
*PRICE: Myr3.9700 @ 2300GMT
*SUP 1: Myr3.9676 - 21-DMA 
*SUP 2: Myr3.9620 - Low May 22 
*SUP 3: Myr3.9400 - Low May 14 
*SUP 4: Myr3.9250 - High Mar 16 now support
*COMMENTARY: A lack of topside follow through on last week's 2018 highs has seen
the pair drift back to find support around the 21-DMA. Bears now need a close
below Myr3.9620 to confirm a break of the 21-DMA, easing bullish pressure, and
below the 100-DMA (Myr3.9163) to hint at a move back to 2018 lows. Bulls now
look for a close above Myr3.9930 to reconfirm focus on Myr4.0088-4.0341 where
200-DMA and WMAs are noted.
     DOLLAR-CNH TECHS: Cnh6.3889 Support Key Today
*RES 4: Cnh6.4657 - Low Jan 8 now resistance 
*RES 3: Cnh6.4570 - 200-DMA 
*RES 2: Cnh6.4475 - High Jan 16 
*RES 1: Cnh6.4322 - High May 30
*PRICE: Cnh6.3920 @ 2300GMT
*SUP 1: Cnh6.3889 - High May 25 now support
*SUP 2: Cnh6.3744 - 21-DMA
*SUP 3: Cnh6.3642 - High May 22 now support
*SUP 4: Cnh6.3303 - 21-WMA
*COMMENTARY: The rally from dips back to the 21-DMA has stalled ahead of the
200-DMA with daily studies looking to correct from modestly O/B levels less than
ideal for bulls. Bears look for a close below Cnh6.3642 to confirm a break of
the 21-DMA and to shift initial focus back to 6.3282-3303 where 55 & 100-DMAs
and the 21-WMA are located. Bulls now need a close above Cnh6.4322 to reconfirm
focus on 200-DMA and WMAs.
     DOLLAR-PHP TECHS: Focus Shifts To Php51.966-52.161
*RES 4: Php52.940 - High July 25 2006 
*RES 3: Php52.755 - Bollinger band top 
*RES 2: Php52.773 - 2018 High May 30 
*RES 1: Php52.431 - Low June 1 now resistance
*PRICE: Php52.340 @ 2300GMT
*SUP 1: Php52.161 - 55-DMA 
*SUP 2: Php52.056 - High May 10 now support 
*SUP 3: Php52.043 - Daily Bull channel base 
*SUP 4: Php51.966 - 100-DMA
*COMMENTARY: The marginal close below the 21-DMA (Php52.382) eases bullish
pressure and sees focus shift to Php51.966-52.161 where 55 & 100-DMAs and the
bull channel base of 2018 lows are situated. Below the 100-DMA then initially
targets Php51.379-715 where the 200-DMA is noted. Bulls now look for a close
above Php52.431 to signal a false break and return focus to Php53.940-53.071
last seen in July 2006.
     DOLLAR-THB TECHS: 21-DMA Now Capping
*RES 4: Thb32.39 - Low Jan 2 now support 
*RES 3: Thb32.20 - 200-DMA 
*RES 2: Thb32.18 - High May 30 
*RES 1: Thb32.02 - 21-DMA
*PRICE: Thb31.91 @ 2300GMT
*SUP 1: Thb31.82 - Low May 28 
*SUP 2: Thb31.75 - Low May 14 
*SUP 3: Thb31.61 - 55-DMA 
*SUP 4: Thb31.58 - Low May 3
*COMMENTARY: Hesitation ahead of the 200-DMA has left the pair looking a little
offered with focus back on the Thb31.75-82 support region today. Bears now look
for a close below Thb31.75 to shift initial focus back to Thb31.53-61 where 55 &
100-DMAs are situated. Bulls now need a close above the 200-DMA to shift
immediate focus to Thb32.39-58 and overall focus to Thb32.92.
     DOLLAR-IDR TECHS: Bulls Need Close Above Idr13965
*RES 4: Idr14080 - High May 28 now support 
*RES 3: Idr14031 - 21-DMA 
*RES 2: Idr13965 - Low May 30 now resistance 
*RES 1: Idr13897 - 55-DMA
*PRICE: Idr13874 @ 2300GMT
*SUP 1: Idr13800 - High Mar 1 now support 
*SUP 2: Idr13757 - 100-DMA 
*SUP 3: Idr13730 - Low Mar 28 
*SUP 4: Idr13688 - High Feb 22 now support
*COMMENTARY: The correction lower from 2018 highs continues with closes below
the 55-DMA adding weight to the case for a move back to Idr13688-757 where the
100-DMA is noted. Daily studies approaching O/S is less than ideal for bears. In
saying that, bulls now need a close above Idr13965 to gain breathing room and
above Idr14110 to return initial pressure to 2018 highs.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: