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MNI Asian Morning FX Technical Analysis 

1 August 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: $0.7934 & $0.8018 Levels Remain Key
*RES 4: $0.8163 - Monthly High May 14 2015 
*RES 3: $0.8117 - Bollinger band top 
*RES 2: $0.8065 - 2017 High July 27 
*RES 1: $0.8018 - Hourly resistance July 27
*PRICE: $0.7998 @ 2100GMT
*SUP 1: $0.7934 - Low July 28 
*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
last week remains a concern for bulls when combined with daily studies looking
to correct from O/B and momentum divergence. Bears need a close below $0.7934 to
shift focus back to $0.7838-74. A close below $0.7838 is needed to end bullish
hopes and shift focus back to $0.7749-03 where the 21-DMA ($0.7802) is located.
Bulls need a close above $0.8018 to reconfirm focus on $0.8163.
KIWI TECHS: $0.7458 Support Remains Key
*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: $0.7524 - High July 28
*PRICE: $0.7506 @ 2100GMT
*SUP 1: $0.7489 - Hourly support July 31
*SUP 2: $0.7458 - High July 21 now support
*SUP 3: $0.7408 - Low July 26
*SUP 4: $0.7391 - Low July 21
*COMMENTARY: The lack of topside follow through on 2017 and 26mth highs last
week was less than ideal for bulls given daily studies looking to correct from
O/B. 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
remain with bulls needing a close above $0.7536 to retain focus on
$0.7577-0.7623 where 2015 highs and the bull channel top are located.
AUSSIE-KIWI TECHS: Recovers From Below 21 & 200-DMAs
*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$1.0671 - 100-DMA
*PRICE: NZ$1.0647 @ 2100GMT
*SUP 1: NZ$1.0606 - 200-DMA
*SUP 2: NZ$1.0595 - 21-DMA
*SUP 3: NZ$1.0588 - Low July 31
*SUP 4: NZ$1.0548 - 55-DMA
*COMMENTARY: The pair found support on a dip below the 21 & 200-DMA Monday
providing bulls with hope and seeing pressure back on NZ$1.0671-80 where the
100-DMA is located. Bulls now look for a close above NZ$1.0731 to confirm a
break of the 100-DMA and to shift immediate focus to tests of July highs
(NZ$1.0845). The NZ$1.0548-1.0606 support region remains key. Bears need a close
below the 55-DMA to shift focus back to 2017 lows.
AUSSIE-YEN TECHS: Supported Ahead Of 21-DMA
*RES 4: Y89.47 - Low Dec 7 2015 now resistance 
*RES 3: Y89.41 - 2017 High July 27 
*RES 2: Y88.81 - High July 28 
*RES 1: Y88.35 - High July 31
*PRICE: Y88.21 @ 2100GMT
*SUP 1: Y87.84 - Low July 31
*SUP 2: Y87.68 - 21-DMA
*SUP 3: Y87.45 - Hourly support July 13
*SUP 4: Y87.24 - High Mar 20 now support
*COMMENTARY: Bulls take comfort in the bounce from ahead of the 21-DMA following
the break of the Y88.17 support. The Y87.45-88.35 support region remains key.
Bears need a close below Y87.45 to confirm a break of the 21-DMA and shift focus
back to Y85.67. Layers of resistance building is a concern for bulls who need a
close above Y88.81 to gain breathing room and return immediate focus to 2017
highs.
EURO-AUSSIE TECHS: Bulls Need Close Above 55-DMA 
*RES 4: A$1.4973 - Daily Bear channel top
*RES 3: A$1.4926 - Low July 11 now resistance
*RES 2: A$1.4858 - 55-DMA
*RES 1: A$1.4809 - High July 31
*PRICE: A$1.4797 @ 2100GMT
*SUP 1: A$1.4773 - 21-DMA 
*SUP 2: A$1.4755 - Hourly resistance July 31 now support 
*SUP 3: A$1.4684 - Low July 31 
*SUP 4: A$1.4643 - Low July 28
*COMMENTARY: The close above the 21-DMA provides bulls comfort with a close
above the 55-DMA now needed to shift focus to layers of resistance
A$1.4926-1.5078 where the daily bear channel top is located. The 21-DMA is
initial support but bears need a close below A$1.4755 to ease immediate bullish
pressure and below A$1.4684 to shift focus back to A$1.4563-1.4645 where the
100-DMA is located. Daily studies have room to move before O/B becomes an issue.
US DOLLAR-INDEX TECHS: DOLLAR-INDEX TECHS: 200-WMA In The Sights
*RES 4: 94.285 - High July 26 
*RES 3: 94.103 - High July 27 
*RES 2: 93.650 - Alternating hourly support/resistance 
*RES 1: 93.161 - Hourly resistance July 31
*PRICE: 92.807 @ 2130GMT
*SUP 1: 92.794 - Bollinger band base
*SUP 2: 92.330 - 200-WMA
*SUP 3: 91.919 - 2016 Low May 3 2016
*SUP 4: 91.514 - Low Jan 15 2015
*COMMENTARY: Bulls failed to capitalise on Thursday's lack of downside follow
through with bears reasserting dominance and immediate pressure now on
91.919-92.330 where the 200-WMA is located. O/S daily studies remain the key
concern for bears. Bulls still need a close above 93.650 to ease bullish
pressure and above 94.602 to shift focus to 94.913-95.464 where the 21-DMA
(94.913) is noted.
EURO-DOLLAR TECHS: Immediate Focus On $1.1870
*RES 4: $1.2352 High Dec 18 2014 
*RES 3: $1.2254 High Dec 25 2014 
*RES 2: $1.2095 Low Dec 31 2014 now resistance
*RES 1: $1.1870 High Jan 12 2015
*PRICE: $1.1838 @ 2030GMT
*SUP 1: $1.1806 Hourly support July 31 
*SUP 2: $1.1763 Hourly resistance July 31 now support 
*SUP 3: $1.1723 Low July 31 
*SUP 4: $1.1704 Hourly support July 28
*COMMENTARY: Gains to start the new week see immediate focus now on the $1.1870
resistance with the Bollinger top ($1.1820) and O/B daily studies seen as
concerns for bulls. The pair looks like closing above the 200-WMA ($1.1788)
which adds support to the bullish case with bulls now looking for a weekly close
above this level. Bears now need a close below $1.1763 to ease immediate bullish
pressure and below $1.1704 to shift focus back to $1.1611-48.
DOLLAR-YEN TECHS: Above Y110.85 To Gain Breathing Room
*RES 4: Y112.17 200-DMA 
*RES 3: Y111.70 Hourly support July 26 now resistance 
*RES 2: Y111.39 Hourly resistance July 27 
*RES 1: Y110.85 Hourly resistance July 28
*PRICE: Y110.25 @ 2030GMT
*SUP 1: Y110.12 Bollinger band base 
*SUP 2: Y109.70 55-WMA 
*SUP 3: Y109.25 Low June 15 
*SUP 4: Y108.69 Monthly Low June 14
*COMMENTARY: Pressure on Y110.34 has taken its toll with the pair remaining
heavy and bears now focused on Y108.69-109.70 where the 55-WMA and monthly lows
are situated. Layers of resistance are building with bulls needing a close above
Y110.85 to gain breathing room and hint at a bounce back to layers of resistance
Y111.39-112.87 where DMAs are located. O/S daily studies and the Bollinger base
remain key concerns for bears with potential to limit follow through.
SPOT GOLD TECHS: Initial Focus On $1280.8
*RES 4: $1337.4 - Monthly High Nov 9 
*RES 3: $1295.9 - 2017 High June 6 
*RES 2: $1280.8 - High June 14 
*RES 1: $1273.7 - Bollinger band top
*PRICE: $1270.3 @ 2130GMT
*SUP 1: $1265.7 - Low July 31 
*SUP 2: $1262.2 - Hourly support July 28 
*SUP 3: $1257.0 - Low July 28 
*SUP 4: $1252.7 - Hourly resistance July 25 now support
*COMMENTARY: Bears failed to capitalise on the dip Wednesday with gold finding
support ahead of $1242.4 and resulting in a close above the $1258.8 resistance
that shifted initial focus to $1280.8 and overall focus to tests of 2017 highs.
The Bollinger top & O/B studies remain key concerns. Bears now look for a close
below $1262.2 to gain breathing room and below $1252.7 to shift focus to the
$1242.4 support.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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