MNI Asian Morning FX Technical Analysis

28 July 2017

By Kyle Shortland

Click below for today's MNI FX Technical Analysis Report -

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Topside Follow Through Lacking

*RES 4: $0.8163 - Monthly High May 14 2015 

*RES 3: $0.8065 - 2017 High July 27 

*RES 2: $0.8018 - Hourly resistance July 27 

*RES 1: $0.7985 - Hourly support July 27 now resistance

*PRICE: $0.7965 @ 2100GMT

*SUP 1: $0.7941 - Hourly resistance July 25 now support 

*SUP 2: $0.7905 - Hourly support July 25 

*SUP 3: $0.7874 - Low July 21 

*SUP 4: $0.7838 - High July 17 now support

*COMMENTARY: The lack of topside follow through on fresh 2017 and 26mth highs is

a concern for bulls with the Bollinger top capping and studies looking to

correct from O/B. There is an increased risk of a move back to $0.7838-74. Bears

need a close below $0.7838 to end bullish hopes and shift focus back to

$0.7749-90 where the 21-DMA ($0.7773) is located. Bulls need a close above

$0.8018 to reconfirm focus on $0.8163.

KIWI TECHS: $0.7458 Support Key Today

*RES 4: $0.7577 - High May 5 2015 

*RES 3: $0.7528 - 2017 High July 27 

*RES 2: $0.7536 - Hourly resistance July 27a 

*RES 1: $0.7506 - Hourly resistance July 27

*PRICE: $0.7486 @ 2100GMT

*SUP 1: $0.7458 - High July 21 now support

*SUP 2: $0.7408 - Low July 26

*SUP 3: $0.7391 - Low July 21

*SUP 4: $0.7384 - Hourly support July 20

*COMMENTARY: The lack of topside follow through on 2017 and 26mth highs is less

than ideal for bulls given daily studies looking to correct from O/S. In saying

that, bears continue to look for a close below $0.7458 to confirm an easing of

bullish pressure and to shift focus back to $0.7391-0.7408. Layers of resistance

are starting to build with bulls now needing a close above $0.7536 to retain

focus on $0.7577-0.7608 where 2015 highs and the bull channel top are located.

AUSSIE-KIWI TECHS: Immediate Focus Remains On The 200-DMA

*RES 4: NZ$1.0731 - Low July 20 now resistance

*RES 3: NZ$1.0713 - High July 26

*RES 2: NZ$1.0680 - High July 27

*RES 1: NZ$1.0655 - Hourly resistance July 27

*PRICE: NZ$1.0638 @ 2100GMT

*SUP 1: NZ$1.0619 - Low July 27

*SUP 2: NZ$1.0606 - 200-DMA

*SUP 3: NZ$1.0582 - 21-DMA

*SUP 4: NZ$1.0553 - 55-DMA

*COMMENTARY: Hesitation around the 100-DMA (NZ$1.0679) continues with the

failure to trouble NZ$1.0731 leaving the pair looking heavy and pressure back on

layers of support NZ$1.0553-1.0606 where key DMAs are clustered. Bears look for

a close below the 55-DMA to confirm focus on retests of 2017 lows. Bulls now

look for a close above NZ$1.0680 to gain breathing room but a close above

NZ$1.0731 remains needed to shift focus back to NZ$1.0845 July highs so far.

AUSSIE-YEN TECHS: Y88.17 Support Key Today

*RES 4: Y89.67 - Bollinger band top 

*RES 3: Y89.47 - Low Dec 7 2015 now resistance 

*RES 2: Y89.41 - 2017 High July 27 

*RES 1: Y88.75 - Hourly support July 26 now resistance

*PRICE: Y88.67 @ 2100GMT

*SUP 1: Y88.17 - Low July 26

*SUP 2: Y87.48 - 21-DMA

*SUP 3: Y87.45 - Hourly support July 13

*SUP 4: Y87.24 - High Mar 20 now support

*COMMENTARY: Fresh 2017 and 17mth highs lacked follow through Thursday which is

less than ideal for bulls given daily studies correcting from O/B. The Y88.17

support is key today with bears needing a close below to shift focus back to

Y87.45-48 where the 21-DMA is located. Below the 21-DMA is needed to shift focus

back to Y85.67. Bulls need a close above Y88.75 today to gain breathing room and

retain immediate focus on fresh 2017 highs.

EURO-AUSSIE TECHS: Remains Capped Ahead Of 21-DMA 

*RES 4: A$1.4775 - 21-DMA

*RES 3: A$1.4765 - High July 26

*RES 2: A$1.4724 - Hourly resistance July 26a

*RES 1: A$1.4699 - Hourly resistance July 26

*PRICE: A$1.4648 @ 2100GMT

*SUP 1: A$1.4594 - Hourly support July 27, 100-DMA 

*SUP 2: A$1.4565 - Low July 27 

*SUP 3: A$1.4486 - Hourly support July 20 

*SUP 4: A$1.4422 - Low July 20

*COMMENTARY: Repeated hesitation ahead of the A$1.4797 and 21 (A$1.4775) & 55

(A$1.4852) DMAs is taking its toll with the pair dipping below the 100-DMA

Thursday. Bears now look for a close below A$1.4565 to confirm a break of the

100-DMA and focus on A$1.4397-1.4422 where the 200-DMA is located. Bulls

continue to look for a close above A$1.4797 to confirm an easing of bearish

pressure and above the 55-DMA to shift focus back to A$1.5078.

US DOLLAR-INDEX TECHS: DOLLAR-INDEX TECHS: Bulls Need Close Above 94.602

*RES 4: 94.602 - Hourly support July 20 now resistance 

*RES 3: 94.357 - Hourly resistance July 21 

*RES 2: 94.285 - High July 26 

*RES 1: 94.103 - High July 27

*PRICE: 93.924 @ 2130GMT

*SUP 1: 93.650 - Hourly support July 27

*SUP 2: 93.152 - 2017 Low July 27

*SUP 3: 93.019 - Monthly Low June 23 2016

*SUP 4: 92.270 - 200-WMA

*COMMENTARY: The lack of downside follow through on fresh 2017 and 13mth lows is

less than ideal for bears when combined with daily studies looking to correct

from O/S. Bulls now look for a close above 94.602 to confirm an easing of

bearish pressure and shift focus to 95.163-95.464 where the 21-DMA (95.163) is

noted. Initial support is now noted at 93.650 with bears needing a close below

to retain focus on tests of the 200-WMA.

EURO-DOLLAR TECHS: Below $1.1583 To Shift Focus Lower

*RES 4: $1.1803 Daily Bull channel top 

*RES 3: $1.1776 High July 27 

*RES 2: $1.1733 Hourly resistance July 27 

*RES 1: $1.1688 Hourly support July 27 now resistance

*PRICE: $1.1677 @ 2030GMT

*SUP 1: $1.1648 Hourly support July 27 

*SUP 2: $1.1611 Low July 26 

*SUP 3: $1.1583 High July 18 now support 

*SUP 4: $1.1562 Hourly support July 20

*COMMENTARY: Hesitation ahead of the daily bull channel top is less than ideal

and has resulted in a correction leaving the pair looking a little heavy. The

$1.1648 support is key today with bears now needing a close below to shift focus

back to $1.1583-1.1611. A close below $1.1583 is needed to confirm a shift in

initial focus back to $1.1369-1.1495 where the 21-DMA and bull channel base are

noted. Bulls need a close above $1.1688 to gain breathing room.

DOLLAR-YEN TECHS: Y111.70 Resistance Confirms Significance

*RES 4: Y112.53 21-DMA 

*RES 3: Y112.18 High July 26 

*RES 2: Y111.70 Hourly support July 26 now resistance 

*RES 1: Y111.25 Hourly support July 27 now resistance

*PRICE: Y111.20 @ 2030GMT

*SUP 1: Y110.75 Low June 27 

*SUP 2: Y110.66 Bollinger band base 

*SUP 3: Y110.62 Low June 16 

*SUP 4: Y110.34 High June 14 now support

*COMMENTARY: Focus has returned to Y110.34-62 following the rejection above the

200-DMA (Y112.10) Wednesday. Hesitation ahead of this region is less than ideal

for bears with daily studies lingering at O/S. Bulls look for a close above

Y111.70 to shift focus to Y112.18-87 where the 21-DMA is located. Bears take

comfort in Y111.70 capping but now need a close below Y110.75 to reconfirm focus

on Y110.34-62. A close below Y110.34 then targets Y108.81-109.25.

SPOT GOLD TECHS: $1242.4-1252.7 Support Remains Key

*RES 4: $1295.9 - 2017 High June 6 

*RES 3: $1280.8 - High June 14 

*RES 2: $1266.5 - High June 15 

*RES 1: $1265.2 - Bollinger band top

*PRICE: $1259.6 @ 2130GMT

*SUP 1: $1252.7 - Hourly resistance July 25 now support 

*SUP 2: $1242.4 - Alternating hourly support/resistance 

*SUP 3: $1235.2 - Hourly support July 18 

*SUP 4: $1234.7 - 21-DMA

*COMMENTARY: Bears failed to capitalise on the dip Wednesday with the gold

finding support ahead of $1242.4 and resulting in a close above the $1258.8

resistance that sees immediate focus ton $1280.8 and overall focus on tests of

2017 highs. The Bollinger top is the key concern and currently caps. Layers of

support are building with bears needing a close below $1252.7 to ease bullish

pressure and below $1242.4 to shift focus lower.

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

[TOPICS: MTABLE]