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Trend Condition Remains Bearish

28 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: Bulls Need Close Above 100-WMA
*RES 4: Sgd1.3720 - High July 17 2017 
*RES 3: Sgd1.3713 - Monthly High Oct 27 
*RES 2: Sgd1.3685 - 2018 High June 27 
*RES 1: Sgd1.3682 - 100-WMA
*PRICE: Sgd1.3671 @ 2300GMT
*SUP 1: Sgd1.3653 - High June 25 now support 
*SUP 2: Sgd1.3638 - High June 26 now support 
*SUP 3: Sgd1.3587 - Low June 26 
*SUP 4: Sgd1.3531 - Low June 22
*COMMENTARY: Fresh 2018 & 9mth highs continue with the pair flirting with the
100-WMA. Bulls continue to look for a close above the 100-WMA to initially focus
on Sgd1.3720 with a close above this level then targeting Sgd1.3787-1.3863. O/B
daily studies remain the key concern for bulls. Support layers are building with
bears now needing a close below Sgd1.3638 to gain breathing room and below
Sgd1.3587 to shift focus back to Sgd1.3472-1.3531.
     DOLLAR-WON TECHS: Krw1112.5-1120.0 Support Key Today
*RES 4: Krw1145.1 - High Oct 9
*RES 3: Krw1131.7 - High Oct 27
*RES 2: Krw1126.7 - 200-WMA
*RES 1: Krw1125.2 - 2018 High June 27
*PRICE: Krw1123.2 @ 2300GMT
*SUP 1: Krw1120.0 - High June 26 now support
*SUP 2: Krw1112.5 - Low June 26
*SUP 3: Krw1103.5 - Low June 20
*SUP 4: Krw1099.0 - 55-WMA
*COMMENTARY: As 2018 & 9mth highs continue bulls remain firmly focused on the
200-WMA. Bulls look for a close above the 200-WMA to add support to the case for
a move targeting Krw1150.7 Sept 2017 monthly highs. Very O/B daily studies
remain the key concern for bulls. In saying that, bears now need a close below
Krw1120.0 to gain breathing room and below Krw1112.5 to shift initial focus back
to the Krw1098.4-1103.5 region where the 55-WMA is found.
     DOLLAR-MYR TECHS: 21 & 200-DMAs Key Support
*RES 4: Myr4.0810 - 55-WMA 
*RES 3: Myr4.0620 - Alternating daily support/resistance 
*RES 2: Myr4.0450 - 2018 High Jan 2 
*RES 1: Myr4.0290 - High June 27
*PRICE: Myr4.0210 @ 2300GMT
*SUP 1: Myr4.0163 - 200-DMA 
*SUP 2: Myr3.9950 - Low June 25 
*SUP 3: Myr3.9897 - 21-DMA 
*SUP 4: Myr3.9620 - Low May 22
*COMMENTARY: The closes above the 200-DMA & 200-WMA (Myr4.0217) add support to
the bullish case with focus now on the Myr4.0450-0920 region where the 55-WMA is
located. O/B daily studies remain the key concern for bulls. In saying that,
bears continue to look for a close below the 21-DMA to ease bullish pressure and
below Myr3.9250 to shift focus back to 2018 lows.
     DOLLAR-CNH TECHS: Focus On Cnh6.6325-6.6651
*RES 4: Cnh6.6651 - High Oct 27 
*RES 3: Cnh6.6631 - High Nov 13 
*RES 2: Cnh6.6538 - 100-WMA 
*RES 1: Cnh6.6325 - Monthly High Dec 12
*PRICE: Cnh6.6170 @ 0220GMT
*SUP 1: Cnh6.5948 - High June 26 now support
*SUP 2: Cnh6.5567 - High June 25 now support
*SUP 3: Cnh6.5366 - Low June 26
*SUP 4: Cnh6.5172 - High June 22 now support
*COMMENTARY: Gains to start the new week resulted in a close above the 55-WMA
and repeated fresh 2018 & 7mth highs that see focus on Cnh6.6325-6651 where the
100-WMA and Dec monthly highs are noted. Very O/B studies and the Bollinger top
(Cnh6.6067) remain concerns for bulls with potential to limit follow through.
Bears now need a close below Cnh6.5948 to gain breathing room and below
Cnh6.5567 to shift focus back to Cnh6.4922-5172.
     DOLLAR-PHP TECHS: Overall Focus On Bull Channel Top
*RES 4: Php54.531 - Daily Bull channel top 
*RES 3: Php54.325 - High Dec 2 2005 
*RES 2: Php53.990 - 2006 High June 16 
*RES 1: Php53.726 - 2018 High June 26
*PRICE: Php53.639 @ 2300GMT
*SUP 1: Php53.147 - High June 12 now support 
*SUP 2: Php52.970 - 21-DMA 
*SUP 3: Php52.945 - Low June 12 
*SUP 4: Php52.773 - High May 30 now support
*COMMENTARY: Follow through has been lacking on recent 2018 & 12+yr highs which
is less than ideal for bulls with daily studies lingering at O/B levels and the
Bollinger top (Php53.848) lingering above. Bears now look for a close below
Php53.147 to hint at a move back to Php52.267-490 with below Php52.771 to add
weight to the case. While Php53.417 supports bulls maintain focus on tests of
the daily bull channel top around Php54.531 today.
     DOLLAR-THB TECHS: Below Thb32.93 To Ease Bullish Pressure
*RES 4: Thb33.61 - 100-WMA 
*RES 3: Thb33.54 - Monthly High Oct 3 
*RES 2: Thb33.35 - High Oct 27 
*RES 1: Thb33.20 - High Nov 3
*PRICE: Thb33.02 @ 2300GMT
*SUP 1: Thb32.93 - Low June 27 
*SUP 2: Thb32.79 - Low June 21 
*SUP 3: Thb32.58 - High Jan 2 now support 
*SUP 4: Thb32.51 - 55-WMA
*COMMENTARY: Fresh 2018 highs continue to add support to the case for a test of
the Thb33.35-60 region where monthly highs and the 100-WMA are situated. Very
O/B daily studies remain the key concern for bulls. Support layers building add
to bullish confidence with bears now needing a close below Thb32.93 to gain
breathing room and below Thb32.79 to shift focus back to layers of support
Thb32.16-43 where 21 & 200-DMAs are noted.
     DOLLAR-IDR TECHS: Immediate Focus Returns To 2018 High
*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: Idr14173 @ 2300GMT
*SUP 1: Idr14110 - Alternating daily support/resistance 
*SUP 2: Idr14053 - Low June 22 
*SUP 3: Idr13970 - Low June 21 
*SUP 4: Idr13963 - 21-DMA
*COMMENTARY: Bulls continue to reassert dominance following the return from
hiatus with immediate focus back on 2018 highs. Bulls then look for a close
above 2018 highs to confirm focus on Idr14480-730 where 2015 highs are located.
The Bollinger band top (Idr14166) remains the key concern for bulls with
potential to limit follow through. Bears now need a close below Idr14053 to ease
bullish pressure and shift focus back to Idr13890-970.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]