MNI BRIEF: EIB Should Lend More To Defence - Top EU Official

MNI China Daily Summary: Thursday, March 14

MNI BRIEF: China Consumers Optimistic On 2024 Household Income

MNI: PBOC Drains Net CNY7 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0974 Thurs; -4.48% Y/Y

CHINA PBOC INJECTS CNY3 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: FED BALANCE SHEET TOTAL ASSETS +$3B TO $7.542T IN WEEK

Bond Supply Calendar: EU Synd W/C 18-Mar; SK, BE, BoE APF Ops Mon

US EIA:NAT GAS STORAGE -9 BCF TO 2,325 BCF MAR 08 WK

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI Asian Morning FX Technical Analysis 

7 August 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: Above $0.7998 To Shift Focus Back to 2017 Highs
*RES 4: $0.8015 - Hourly support Aug 1 now resistance 
*RES 3: $0.7998 - Hourly resistance Aug 1 
*RES 2: $0.7979 - High Aug 4 
*RES 1: $0.7934 - Hourly resistance Aug 4
*PRICE: $0.7920 @ 2130GMT
*SUP 1: $0.7905 - Hourly support July 25 
*SUP 2: $0.7874 - Low July 21 
*SUP 3: $0.7870 - 21-DMA 
*SUP 4: $0.7838 - High July 17 now support
*COMMENTARY: The rejection ahead of recent 2017 highs and relatively bearish
closes is less than ideal for bulls given daily studies correcting from O/B.
Pressure on $0.7934 took its toll with bears now focused on the $0.7838-74
region where the 21-DMA is located. Bulls now need a close above $0.7934 to gain
breathing room and above $0.7998 to shift focus initial focus back to $0.8044-65
where 2017 highs are located.
KIWI TECHS: Pressure Remains On 21-DMA
*RES 4: $0.7524 - High July 28 
*RES 3: $0.7496 - Hourly resistance Aug 1 
*RES 2: $0.7458 - High July 21, Hourly resistance Aug 2 
*RES 1: $0.7429 - Hourly resistance Aug 4
*PRICE: $0.7415 @ 2100GMT
*SUP 1: $0.7391 - Low July 21, 21-DMA
*SUP 2: $0.7384 - Hourly support July 20, 21-DMA
*SUP 3: $0.7371 - Daily Bull channel base
*SUP 4: $0.7334 - Low July 20
*COMMENTARY: Bulls take comfort in support emerging ahead of the 21-DMA and key
$0.7334-91 support region where the 21-DMA and daily bull channel base are
situated. The $0.7458 resistance remains key with bulls needing a close above to
ease bearish pressure and to shift focus back to $0.7524-58 where 2017 highs are
noted. Bears look for a close below $0.7334 to shift immediate focus to the
55-DMA ($0.7269).
AUSSIE-KIWI TECHS: Pressure Remains On 100-DMA
*RES 4: NZ$1.0882 - Low May 1 now resistance
*RES 3: NZ$1.0845 - Monthly High July 20
*RES 2: NZ$1.0746 - High Aug 3
*RES 1: NZ$1.0700 - Hourly resistance Aug 4
*PRICE: NZ$1.065 @ 2100GMT
*SUP 1: NZ$1.0665 - 100-DMA
*SUP 2: NZ$1.0650 - Low Aug 2
*SUP 3: NZ$1.0645 - 21-DMA, Daily Bull channel base
*SUP 4: NZ$1.0588 - Low July 31
*COMMENTARY: Bulls are struggling to distance themselves from the 100-DMA with
pressure back on this support and the NZ$1.0588-1.0665 support region as a
whole. Bears need a close below NZ$1.0593 to end bullish hopes and initially
target the 55-DMA (NZ$1.0548). Bulls now need a close above NZ$1.0746 to
reconfirm a bullish bias an initially target NZ$1.0845 July highs. Daily studies
remain well placed for gains.
AUSSIE-YEN TECHS: Bulls Need Close Above 21-DMA
*RES 4: Y89.41 - 2017 High July 27 
*RES 3: Y88.81 - High July 28 
*RES 2: Y88.37 - Hourly resistance Aug 1 
*RES 1: Y88.00 - 21-DMA
*PRICE: Y87.76 @ 2100GMT
*SUP 1: Y87.48 - Hourly support Aug 4
*SUP 2: Y87.24 - High Mar 20 now support
*SUP 3: Y86.81 - Low July 13
*SUP 4: Y86.59 - Low July 10
*COMMENTARY: The break of the 21-DMA added weight to the bearish case with
immediate pressure back on Y87.24. Bears look for a close below this level to
initially target Y86.59 and then Y85.52-69 where the 55-DMA is located. Layers
of resistance are building and weighing. Bulls still need a close above the
21-DMA to gain breathing room and above Y88.81 To shift initial focus back to
2017 highs (Y89.41).
EURO-AUSSIE TECHS: Bear Channel Top Capping 
*RES 4: A$1.5075 - High July 6
*RES 3: A$1.5033 - High July 11
*RES 2: A$1.4958 - Daily Bear channel top
*RES 1: A$1.4875 - Hourly support Aug 4 now resistance
*PRICE: A$1.4860 @ 2100GMT
*SUP 1: A$1.4818 - Hourly support Aug 2 
*SUP 2: A$1.4765 - 21-DMA 
*SUP 3: A$1.4734 - Daily Bull channel base 
*SUP 4: A$1.4680 - Low July 31
*COMMENTARY: The daily bear channel top confirmed significance having capped
last week's gains with the bearish close Friday a concern for bulls. In saying
that, bears need a close below the 21-DMA to shift focus back to A$1.4565-1.4680
where the 100-DMA (A$1.4640) is located. While the 21-DMA supports bulls remain
focused on A$1.5033-1.5109 where monthly highs are situated. Overall bears need
a close below A$1.4570 to confirm focus on the 200-DMA (A$1.4413).
US DOLLAR-INDEX TECHS: 93.061-398 Support Key Today
*RES 4: 94.285 - High July 26 
*RES 3: 94.213 - 21-DMA 
*RES 2: 94.103 - High July 27 
*RES 1: 93.774 - High Aug 4
*PRICE: 93.502 @ 2130GMT
*SUP 1: 93.398 - Hourly support Aug 4
*SUP 2: 93.061 - Hourly support Aug 4a
*SUP 3: 92.679 - Low Aug 3
*SUP 4: 92.548 - 2017 Low Aug 2
*COMMENTARY: O/S daily studies appear to be impacting with hesitation ahead of
the recent 2017 lows & 200-WMA (92.399) less than ideal for bears. Immediate
bearish pressure has been eased with bulls now needing a close above 94.465 to
confirm a break of the 21-DMA and shift immediate focus to 95.167-867 where the
55-DMA is noted. Support layers are accumulating with bears looking for a close
below 93.061 to shift pressure back to 2017 lows.
EURO-DOLLAR TECHS: $1.1723 Support Key Today
*RES 4: $1.1909 2017 High Aug 2 
*RES 3: $1.1861 Hourly support Aug 3 now support 
*RES 2: $1.1818 Hourly support Aug 2 now resistance 
*RES 1: $1.1784 Low Aug 1 now resistance
*PRICE: $1.1773 @ 2030GMT
*SUP 1: $1.1723 Low July 31 
*SUP 2: $1.1671 Low July 28 
*SUP 3: $1.1648 Low July 27 
*SUP 4: $1.1611 Low July 26
*COMMENTARY: Failure to break the recent 2017 high combined with daily studies
looking to correct from O/B have took their toll with a sell-off that eased
bullish pressure and hints at a move back to $1.1583-1.1648 where the 21-DMA
($1.1620) is located. Bears now look for a close below $1.1723 to add weight to
their case. Layers of resistance are building with bulls needing a close above
$1.1818 to ease bearish pressure and above $1.1861 to pressure 2017 highs.
DOLLAR-YEN TECHS: Focus On Y111.39-112.41 This Week
*RES 4: Y111.85 21-DMA 
*RES 3: Y111.52 55-DMA 
*RES 2: Y111.39 Hourly resistance July 27, 100-DMA 
*RES 1: Y111.05 High Aug 4
*PRICE: Y110.68 @ 2030GMT
*SUP 1: Y110.52 Hourly resistance Aug 3 now support 
*SUP 2: Y110.23 Hourly resistance Aug 4 now support 
*SUP 3: Y110.00 Hourly support Aug 4 
*SUP 4: Y109.84 Low Aug 3
*COMMENTARY: A double daily bottom around Y109.84 and support ahead of the
55-WMA (109.72) combined with daily studies looking to correct from O/S provided
the catalyst for a rally Friday that eased bearish pressure and sees focus on
Y111.39-112.41. Bulls need a close above Y112.41 to hint at a shift higher in
focus with above Y112.87 needed to confirm. Bears now need a close below Y110.23
to ease bullish pressure and below Y110.00 to shift focus back to Y108.15-69.
SPOT GOLD TECHS: Topside Hesitation Taking Its Toll
*RES 4: $1280.8 - High June 14 
*RES 3: $1274.0 - High Aug 1 
*RES 2: $1267.2 - Hourly support Aug 3 & 4 now resistance 
*RES 1: $1264.4 - Alternating hourly support/resistance
*PRICE: $1258.9 @ 2130GMT
*SUP 1: $1253.6 - 100-DMA 
*SUP 2: $1252.3 - 55-DMA 
*SUP 3: $1245.2 - 21-DMA 
*SUP 4: $1243.8 - Low July 28
*COMMENTARY: Daily studies looking to correct from O/B and hesitation ahead of
the key $1280.8 resistance have taken their toll with a sell-off and bearish
close Friday that sees pressure on layers of support $1243.8-1253.6. Bears need
a close below $1243.8 to confirm a break of key supports and to see immediate
focus return to the 200-DMA ($1229.5). Bulls need a close above $1264.4 to gain
breathing room and above $1280.8 to target 2017 highs.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
To read the full story
Close
Why MNI
MNI is the leading provider
 of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        window.dataLayer.push({
    'event' : 'logedout',
    'loggedOut' : 'loggedOut'
  });
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        (function appendPosts () {  
    var policyPosts = document.getElementsByClassName('policy-posts-wrapper')[0];
    var policyPostsMenu = document.querySelector('.policy-posts-span');
    policyPostsMenu.append(policyPosts);
    policyPosts.style.display = "block";
  
    var empolicyPosts = document.getElementsByClassName('em-policy-posts-wrapper')[0];
    var empolicyPostsMenu = document.querySelector('.em-policy-posts-span');
    empolicyPostsMenu.append(empolicyPosts);
    empolicyPosts.style.display = "block";

    var dataPosts = document.getElementsByClassName('data-posts-wrapper')[0];
    var dataPostsMenu = document.querySelector('.data-posts-span');
    dataPostsMenu.append(dataPosts);
    dataPosts.style.display = "block";
})();
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelectorAll(".my-mni").forEach(function(item){
  item.href="/core/users/email_login/";
  item.innerHTML="Log In";
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelector('.signup-form').addEventListener('submit', () => {
  window.dataLayer = window.dataLayer || [];
  dataLayer.push({
    'event' : 'submission_click',
    'event_category': "Sign Up Button Clicks",
     'event_label': "Posts" 
  });  
  
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){
  item.onsubmit=function(e){
    ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15});
    window.dataLayer = window.dataLayer || [];
    dataLayer.push({
      'event' : 'signup_click',
      'event_category': "Signup",
      'event_action': 'CompletedForm',
       'event_label': 'pageTitle',
      'event_value': 15
    });  
  }
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelectorAll("img").forEach(function (img) {
    img.addEventListener("contextmenu", function (e) {
      return false;
    });
  });
  document
    .querySelector(".site-logo img")
    .addEventListener("contextmenu", function (e) {
      return true;
    });
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelector('.signup-form').addEventListener('submit', () => {
  window.dataLayer = window.dataLayer || [];
  dataLayer.push({
    'event' : 'submission_click',
    'event_category': "Sign Up Button Clicks",
     'event_label': "Posts" 
  });  
  
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){
  item.onsubmit=function(e){
    ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15});
    window.dataLayer = window.dataLayer || [];
    dataLayer.push({
      'event' : 'signup_click',
      'event_category': "Signup",
      'event_action': 'CompletedForm',
       'event_label': 'pageTitle',
      'event_value': 15
    });  
  }
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        
  let posts = document.querySelectorAll(".all-content-wrapper .widget:not(.stream-story-processed)");
  window.check_story_posts(posts, "streamOfPosts");
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        function populateInputsWithAPAPI(c) {
  document.querySelectorAll('.signup-form input[name="country"]').forEach(el => {
	el.setAttribute("value", c.country_name);
  });
  document.querySelectorAll('.signup-form .country_name').forEach(el => {
	el.setAttribute("value", c.country_name);
  });

  let country_code =
    c && c.country_code ? c.country_code.toLowerCase() : "auto";
  document.querySelectorAll('.signup-form .country_code').forEach(el => {
	el.setAttribute("value", country_code);
  });
  document.querySelectorAll('.signup-form .selected_country').forEach(el => {
	el.setAttribute("value", country_code);
  });
}

const fetch = function (err, res) {
  var r = new XMLHttpRequest();
  r.open("GET", err, !0),
    (r.responseType = "json"),
    (r.onload = function () {
      var err = r.status;
      res(200 === err ? null : err, r.response);
    }),
    r.send();
};

function setupCountry() {
  if (window.preventDuplicateExec) {
    return;
  }
  window.preventDuplicateExec = true;

  window.REBELMOUSE_STDLIB.onElementInViewport({
    threshold: 0,
    firstOnly: true,
    oneTime: true,
    selector: ".signup-form",
    onIntersect: (entry) => {
      // when you need to get access to that data you call it in that way:
      let ipapiData = localStorage.getItem("ipapiData");
      if (!ipapiData) {
        fetch("https://ipapi.co/json/", function (err, ipData) {
          console.log("populating inputs with data from IP API ");
          localStorage.setItem("ipapiData", JSON.stringify(ipData));
          populateInputsWithAPAPI(ipData);
        });
      } else {
        console.log(
          "populating inputs with data from IP API data stored in local storage"
        );
        populateInputsWithAPAPI(JSON.parse(ipapiData));
      }
    },
  });
}

setupCountry();
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        /*
const sidebar = document.querySelector('.left-sidebar-container');
const stickyContent = document.querySelector('.sticky-content');
const siteContent = document.querySelector('.all-posts-stream');
if (sidebar && stickyContent && siteContent) {
  if (siteContent.clientHeight > sidebar.clientHeight) {
    console.log('grater -> ', siteContent.clientHeight + ' > ' + sidebar.clientHeight);
    stickyContent.style.height = (siteContent.clientHeight - sidebar.clientHeight) + 'px';
  }
}
*/
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        function populateInputsWithAPAPI(c) {
  document.querySelectorAll('.signup-form input[name="country"]').forEach(el => {
	el.setAttribute("value", c.country_name);
  });
  document.querySelectorAll('.signup-form .country_name').forEach(el => {
	el.setAttribute("value", c.country_name);
  });

  let country_code =
    c && c.country_code ? c.country_code.toLowerCase() : "auto";
  document.querySelectorAll('.signup-form .country_code').forEach(el => {
	el.setAttribute("value", country_code);
  });
  document.querySelectorAll('.signup-form .selected_country').forEach(el => {
	el.setAttribute("value", country_code);
  });
}

const fetch = function (err, res) {
  var r = new XMLHttpRequest();
  r.open("GET", err, !0),
    (r.responseType = "json"),
    (r.onload = function () {
      var err = r.status;
      res(200 === err ? null : err, r.response);
    }),
    r.send();
};

function setupCountry() {
  if (window.preventDuplicateExec) {
    return;
  }
  window.preventDuplicateExec = true;

  window.REBELMOUSE_STDLIB.onElementInViewport({
    threshold: 0,
    firstOnly: true,
    oneTime: true,
    selector: ".signup-form",
    onIntersect: (entry) => {
      // when you need to get access to that data you call it in that way:
      let ipapiData = localStorage.getItem("ipapiData");
      if (!ipapiData) {
        fetch("https://ipapi.co/json/", function (err, ipData) {
          console.log("populating inputs with data from IP API ");
          localStorage.setItem("ipapiData", JSON.stringify(ipData));
          populateInputsWithAPAPI(ipData);
        });
      } else {
        console.log(
          "populating inputs with data from IP API data stored in local storage"
        );
        populateInputsWithAPAPI(JSON.parse(ipapiData));
      }
    },
  });
}

setupCountry();
    

});