MNI Dollar-Asia Morning FX Technical Analysis

7 June 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: Above Sgd1.3368 To Gain Breathing Room

*RES 4: Sgd1.3449 - 55-WMA 

*RES 3: Sgd1.3417 - Low May 29 now resistance 

*RES 2: Sgd1.3390 - 21-DMA 

*RES 1: Sgd1.3368 - High June 5

*PRICE: Sgd1.3321 @ 2300GMT

*SUP 1: Sgd1.3285 - Low May 4 

*SUP 2: Sgd1.3267 - 55-DMA 

*SUP 3: Sgd1.3222 - 100-DMA 

*SUP 4: Sgd1.3197 - High Apr 6 now support

*COMMENTARY: Bears take comfort in closes below the 200-DMA (Sgd1.3358) with

initial focus currently on the Sgd1.3197-1.3285 region where 55 &100-DMAs are

located. Bulls now need a close above Sgd1.3368 to gain breathing room and above

Sgd1.3417 to return focus to Sgd1.3497-1.3538. Bears now look for a close below

Sgd1.3197 to confirm breaks of 55 & 100-DMAs and to return focus to tests of

2018 lows.

     DOLLAR-WON TECHS: Above 55-DMA To Gain Breathing Room

*RES 4: Krw1089.1 - 200-DMA

*RES 3: Krw1087.6 - High Mar 1

*RES 2: Krw1086.7 - High May 21

*RES 1: Krw1071.6 - 55-DMA

*PRICE: Krw1065.8 @ 2300GMT

*SUP 1: Krw1063.3 - Low May 10, Bollinger band base

*SUP 2: Krw1058.7 - Low Apr 19

*SUP 3: Krw1052.0 - 2018 Low Apr 2

*SUP 4: Krw1045.6 - Monthly Low Oct 29 2014

*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 Krw1086.7-1089.1 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: Myr4.0089 - 200-WMA 

*RES 1: Myr3.9930 - High May 30

*PRICE: Myr3.9720 @ 2300GMT

*SUP 1: Myr3.9687 - 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 need a close below

Myr3.9620 to confirm a break of the 21-DMA, easing bullish pressure, and below

the 100-DMA (Myr3.9165) to hint at a move back to 2018 lows. Bulls now look for

a close above Myr3.9930 to reconfirm focus on Myr4.0089-4.0326 where 200-DMA and

WMAs are noted.

     DOLLAR-CNH TECHS: Below Cnh6.3642 Targets 55 & 100-DMAs

*RES 4: Cnh6.4475 - High Jan 16 

*RES 3: Cnh6.4322 - High May 30 

*RES 2: Cnh6.4179 - High June 4 

*RES 1: Cnh6.3889 - Alternating Daily support/resistance

*PRICE: Cnh6.3773 @ 2300GMT

*SUP 1: Cnh6.3743 - 21-DMA

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

*SUP 3: Cnh6.3297 - 21-WMA

*SUP 4: Cnh6.3277 - 100-DMA

*COMMENTARY: Pressure has returned to the 21-DMA with the rally having stalled

ahead of the 200-DMA (Cnh6.4558) for now. Bears now look for a close below

Cnh6.3642 to confirm a break of the 21-DMA and to shift initial focus back to

6.3287-3303 where 55 & 100-DMAs and the 21-WMA are located. Bulls now need a

close above Cnh6.3889 to gain breathing room and 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: Php52.773 - 2018 High May 30 

*RES 2: Php52.732 - Bollinger band top 

*RES 1: Php52.489 - High June 6

*PRICE: Php52.340 @ 2300GMT

*SUP 1: Php52.161 - 55-DMA 

*SUP 2: Php52.064 - Daily Bull channel base off 2018 Low 

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

*SUP 4: Php51.983 - 100-DMA

*COMMENTARY: The marginal closes below the 21-DMA (Php52.403) ease bullish

pressure and see focus back on Php51.9983-52.161 where 55 & 100-DMAs and the

bull channel base of 2018 lows are situated. Below the 100-DMA then initially

targets Php51.385-715 where the 200-DMA is noted. Bulls now look for a close

above Php52.489 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, 200-DMA Key

*RES 4: Thb32.39 - Low Jan 2 now support 

*RES 3: Thb32.20 - 200-DMA 

*RES 2: Thb32.18 - High May 30 

*RES 1: Thb32.01 - 21-DMA

*PRICE: Thb31.91 @ 2300GMT

*SUP 1: Thb31.82 - Low May 28 

*SUP 2: Thb31.75 - Low May 14 

*SUP 3: Thb31.63 - 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 Thb31.53-63 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: Idr14022 - 21-DMA 

*RES 2: Idr13965 - Low May 30 now resistance 

*RES 1: Idr13899 - 55-DMA

*PRICE: Idr13850 @ 2300GMT

*SUP 1: Idr13800 - High Mar 1 now support 

*SUP 2: Idr13762 - 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 Idr13688-762 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: kyle.shortland@mni-news.com

[TOPICS: MTABLE]