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MNI Asian Morning FX Technical Analysis 

8 August 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: Bears Look for Close Below $0.7838
*RES 4: $0.8044 - High Aug 1 
*RES 3: $0.8015 - Hourly support Aug 1 now resistance 
*RES 2: $0.7998 - Hourly resistance Aug 1 
*RES 1: $0.7979 - High Aug 4
*PRICE: $0.7910 @ 2100GMT
*SUP 1: $0.7891 - Low Aug 4 
*SUP 2: $0.7884 - 21-DMA 
*SUP 3: $0.7874 - Low July 21 
*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 last week with bears focused on $0.7838-84
where the 21-DMA is located. Bulls continue to look for a close above $0.7998 to
shift focus initial focus back to $0.8044-65 where 2017 highs are located. A
close below the 21-DMA is needed to add weight to the bearish case.
KIWI TECHS: $0.7334 Support Key Today
*RES 4: $0.7458 - High July 21, Hourly resistance Aug 2 
*RES 3: $0.7419 - Hourly resistance Aug 4 
*RES 2: $0.7391 - Low July 21 now resistance 
*RES 1: $0.7377 - Hourly resistance Aug 7
*PRICE: $0.7358 @ 2100GMT
*SUP 1: $0.7334 - Low July 20
*SUP 2: $0.7276 - 55-DMA
*SUP 3: $0.7265 - Low July 18
*SUP 4: $0.7203 - Monthly Low July 11
*COMMENTARY: The break and close below the daily bull channel base ($0.7380) and
21-DMA ($0.7396) adds weight to the bearish case that is now focused on tests of
the 55-DMA. Overall below $0.7203 is needed to confirm focus on $0.7115-33 where
100 & 200-DMAs are situated. Bulls now need a close above $0.7391 to gain
breathing room and above $0.7458 to shift focus back to $0.7524-58.
AUSSIE-KIWI TECHS: Focus Back On NZ$1.0845-1.0935
*RES 4: NZ$1.0882 - Low May 1 now resistance
*RES 3: NZ$1.0845 - Monthly High July 20
*RES 2: NZ$1.0819 - Bollinger band top
*RES 1: NZ$1.0758 - High Aug 7
*PRICE: NZ$1.0750 @ 2100GMT
*SUP 1: NZ$1.0735 - Hourly support Aug 7
*SUP 2: NZ$1.0665 - 100-DMA
*SUP 3: NZ$1.0654 - Daily Bull channel base
*SUP 4: NZ$1.0650 - Low Aug 2
*COMMENTARY: Despite pressuring the 100-DMA bears failed to manage the close
below the daily bull channel base needed to shift immediate focus to
NZ$1.0593-1.0613 where the 200-DMA is located. The bounce sees bulls gain
control and return focus to tests of NZ$1.0844-1.0935 where monthly highs are
situated. Initial support is noted at NZ$1.0735 with bears needing a close below
to ease immediate bullish pressure. Daily studies are 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: Y88.05 - 21-DMA
*PRICE: Y87.64 @ 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 Thursday added weight to the bearish case
with immediate pressure on Y87.24. Bears look for a close below to initially
target Y86.59 and then Y85.60-69 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$1.4952 - Daily Bear channel top
*RES 1: A$1.4925 - High Aug 7
*PRICE: A$1.4906 @ 2100GMT
*SUP 1: A$1.4883 - Hourly support Aug 7 
*SUP 2: A$1.4818 - Hourly support Aug 2 
*SUP 3: A$1.4762 - 21-DMA, Daily Bull channel base 
*SUP 4: A$1.4680 - Low July 31
*COMMENTARY: The bear channel top confirmed significance having capped last
week's gains. The 21-DMA remains key support with bears needing a close below to
confirm a break of the bull channel base and shift focus back to A$1.4565-1.4680
where the 100-DMA (A$1.4650) is located. Overall bears need a close below
A$1.4570 to confirm focus on the 200-DMA (A$1.4413). While the 21-DMA supports
bulls remain focused on A$1.5033-1.5109 where monthly highs are situated.
US DOLLAR-INDEX TECHS: 93.061Support Key Today
*RES 4: 94.210 - 21-DMA 
*RES 3: 94.103 - High July 27 
*RES 2: 93.774 - High Aug 4 
*RES 1: 93.541 - High Aug 7
*PRICE: 93.443 @ 2130GMT
*SUP 1: 93.302 - Low Aug 7
*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 (92.398) 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 95.167-866 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 Remains Key
*RES 4: $1.2095 Low Dec 31 2014 now resistance 2 
*RES 3: $1.1909 2017 High Aug 2 
*RES 2: $1.1861 Hourly support Aug 3 now support 
*RES 1: $1.1818 Hourly support Aug 2 now resistance
*PRICE: $1.1794 @ 2030GMT
*SUP 1: $1.1768 Hourly support Aug 7 
*SUP 2: $1.1723 Low July 31 
*SUP 3: $1.1671 Low July 28 
*SUP 4: $1.1648 Low July 27
*COMMENTARY: Failure to break the recent 2017 high combined with daily studies
looking to correct from O/B have taken their toll with a sell-off Friday that
eased bullish pressure and hints at a move back to $1.1583-1.1648 where the
21-DMA ($1.1639) is located. Bears need a close below $1.1723 to add weight to
their case. Layers of resistance remain with bulls needing a close above $1.1861
to return focus to 2017 highs.
DOLLAR-YEN TECHS: Focus On Y111.39-112.41 This Week
*RES 4: Y111.70 21-DMA 
*RES 3: Y111.51 55-DMA 
*RES 2: Y111.39 Hourly resistance July 27, 100-DMA 
*RES 1: Y111.05 High Aug 4
*PRICE: Y110.74 @ 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 (Y109.80) combined with daily studies looking to correct from O/S
provided the catalyst for a rally that eased bearish pressure Friday 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 to confirm. Bears 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: $1274.0 - High Aug 1 
*RES 3: $1267.2 - Hourly support Aug 3 & 4 now resistance 
*RES 2: $1264.4 - Alternating hourly support/resistance 
*RES 1: $1260.0 - High Aug 8
*PRICE: $1257.7 @ 2130GMT
*SUP 1: $1255.7 - Daily Bull channel base 
*SUP 2: $1253.8 - 100-DMA 
*SUP 3: $1252.2 - 55-DMA 
*SUP 4: $1247.2 - 21-DMA
*COMMENTARY: Daily studies looking to correct from O/B and hesitation ahead of
the key $1280.8 resistance has taken its toll with a sell-off and bearish close
Friday that sees pressure on layers of support $1243.8-1255.7. Bears need a
close below $1243.8 to confirm a break of key supports and to see immediate
focus return to the 200-DMA ($1229.4). 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]
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