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Free AccessMNI Asian Morning FX Technical Analysis
11 August 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: $0.7838 & $0.7949 Levels Key
*RES 4: $0.7998 - Hourly resistance Aug 1
*RES 3: $0.7979 - High Aug 4
*RES 2: $0.7949 - High Aug 7
*RES 1: $0.7919 - Hourly support Aug 8 now resistance
*PRICE: $0.7881 @ 2100GMT
*SUP 1: $0.7858 - Low Aug 9
*SUP 2: $0.7838 - High July 17 now support
*SUP 3: $0.7781 - Low July 17
*SUP 4: $0.7749 - Hourly support July 14a
*COMMENTARY: The pair remains heavy with immediate bearish focus on the $0.7838
support. Overall a close below $0.7838 is needed to shift focus to
$0.7749-0.7781. Layers of resistance are adding weight to the bearish case with
bulls needing a close above $0.7949 to ease bearish pressure and above $0.7998
to shift focus initial focus back to $0.8044-65 where 2017 highs are located.
Daily studies have room to move before becoming O/S.
KIWI TECHS: Above 21-DMA To Shift focus higher
*RES 4: $0.7391 - Low July 21 now resistance
*RES 3: $0.7377 - Hourly resistance Aug 7
*RES 2: $0.7342 - Alternating hourly support/resistance
*RES 1: $0.7298 - Hourly support Aug 10 now resistance
*PRICE: $0.7281 @ 2100GMT
*SUP 1: $0.7250 - Low July 17
*SUP 2: $0.7203 - Monthly Low July 11
*SUP 3: $0.7170 - Low June 7
*SUP 4: $0.7142 - 100-DMA
*COMMENTARY: The break and close below the daily bull channel base and 21-DMA
($0.7405) added weight to the bearish case with bears now needing a close below
$0.7250 to shift focus to $0.7115-0.7203 where 100 & 200-DMAs are situated. The
Bollinger base ($0.7264) and studies approaching O/S are key concerns for bears.
In saying that, bulls need a close above the 21-DMA to ease bearish pressure and
shift focus back to $0.7458-0.7577.
AUSSIE-KIWI TECHS: Supported Ahead Of 21-DMA
*RES 4: NZ$1.0966 - High Mar 31
*RES 3: NZ$1.0935 - Monthly High May 1
*RES 2: NZ$1.0882 - Low May 1 now resistance
*RES 1: NZ$1.0861 - High Aug 10
*PRICE: NZ$1.0823 @ 2100GMT
*SUP 1: NZ$1.0798 - Hourly support Aug 10
*SUP 2: NZ$1.0766 - Hourly support Aug 10a
*SUP 3: NZ$1.0747 - Hourly resistance Aug 10 now support
*SUP 4: NZ$1.0691 - Low Aug 10
*COMMENTARY: Despite initially looking heavy Thursday, the pair found support
ahead of the 21-DMA (NZ$1.0697) and daily bull channel base (NZ$1.0690) which
provided the catalyst for the rally to fresh 3mth highs. Bulls have regained the
upper hand with focus now on layers of resistance NZ$1.0882-1.1018 where monthly
and 2017 highs are noted. Bears now need a close below NZ$1.0798 to ease bullish
pressure and below NZ$1.0747 to shift focus back to the 21-DMA.
AUSSIE-YEN TECHS: Below Y85.69 Targets 100 & 200-DMAs
*RES 4: Y87.24 - Hourly support Aug 9a now resistance
*RES 3: Y87.10 - High Aug 10
*RES 2: Y86.78 - Hourly resistance Aug 10a
*RES 1: Y86.30 - Hourly resistance Aug 10
*PRICE: Y86.02 @ 2100GMT
*SUP 1: Y85.77 - 55-DMA
*SUP 2: Y85.69 - Low July 5
*SUP 3: Y84.98 - 200-DMA
*SUP 4: Y84.74 - 100-DMA
*COMMENTARY: The break of the 21-DMA was followed up with a break and close
below the Y87.24 level that sees immediate bearish focus on Y85.69-77 where the
55-DMA is located. Daily studies approaching O/S and the Bollinger base (Y86.55)
are concerns for bears with potential to limit follow through. Layers of
resistance remain with bulls needing a close above Y86.30 to gain breathing room
and above Y87.24 to shift focus to Y88.01-03 where the 21-DMA is noted.
EURO-AUSSIE TECHS: Bulls Need Close Above A$1.4965
*RES 4: A$1.5075 - High July 6
*RES 3: A$1.5033 - High July 11
*RES 2: A$1.5000 - Bollinger band top
*RES 1: A$1.4965 - High Aug 4
*PRICE: A$1.4951 @ 2100GMT
*SUP 1: A$1.4891 - Hourly support Aug 10
*SUP 2: A$1.4844 - Daily Bull channel base
*SUP 3: A$1.4818 - Hourly support Aug 2
*SUP 4: A$1.4753 - 21-DMA
*COMMENTARY: Pressure on the bear channel top (A$1.4935) has taken its toll with
the close above providing bullish confidence a boost. Bulls continue to look for
a close above A$1.4965 to gain traction topside and confirm focus on
A$1.5033-1.5224 where monthly highs and the bull channel top are located.
Initial support is noted at A$1.4891 today with bears needing a close below to
ease immediate bullish pressure and shift focus back to A$1.4753-1.4844.
US DOLLAR-INDEX TECHS: Hesitating Ahead Of 21-DMA
*RES 4: 94.476 - Low July 18 now resistance
*RES 3: 94.285 - High July 26
*RES 2: 94.103 - High July 27
*RES 1: 93.888 - High Aug 9
*PRICE: 93.403 @ 2130GMT
*SUP 1: 93.238 - Low Aug 8
*SUP 2: 93.061 - Hourly support Aug 4a
*SUP 3: 92.679 - Low Aug 3
*SUP 4: 92.548 - 2017 Low Aug 2
*COMMENTARY: Despite recovering from recent 2017 lows the move has stalled ahead
of the 21-DMA (93.883) with bulls now needing a close above 93.888 to confirm an
easing of bearish pressure and above 94.476 to target 95.167-661 where the
55-DMA is located. Layers of support remain with bears needing a close below
93.061 to reconfirm focus on 2017 lows and the 91.919-92.548 region where the
200-WMA & 2016 lows are situated.
EURO-DOLLAR TECHS: Remains Supported Ahead Of 21-DMA
*RES 4: $1.1909 2017 High Aug 2
*RES 3: $1.1861 Hourly support Aug 3 now support
*RES 2: $1.1824 High Aug 8
*RES 1: $1.1802 Hourly support Aug 8 now resistance
*PRICE: $1.1772 @ 2030GMT
*SUP 1: $1.1747 Hourly support Aug 10
*SUP 2: $1.1690 Low Aug 9
*SUP 3: $1.1686 21-DMA
*SUP 4: $1.1671 Low July 28
*COMMENTARY: Bulls take comfort in support continuing to emerge on dips back
towards the 21-DMA. The $1.1824 resistance is now key with bulls needing a close
above to hint at a retest of 2017 highs and ten the bull channel top ($1.1968).
Bears now look for a close below the 21-DMA to add further weight to their case
for a move that initially targets $1.1583-1.1648. Below $1.1583 is needed to
shift focus to $1.1373-1.1480 where the 55-DMA ($1.1428) is located.
DOLLAR-YEN TECHS: Above Y110.25 To Shift Focus Higher
*RES 4: Y110.82 High Aug 8
*RES 3: Y110.59 Hourly resistance Aug 8
*RES 2: Y110.25 Low Aug 8 now resistance
*RES 1: Y109.58 Low Aug 9 now resistance
*PRICE: Y109.23 @ 2030GMT
*SUP 1: Y108.81 Monthly Low June 14
*SUP 2: Y108.10 2017 Low Apr 17
*SUP 3: Y106.95 High Nov 10 now support
*SUP 4: Y104.91 Low Nov 10
*COMMENTARY: The Y110.25 resistance confirmed significance with the pair
remaining capped ahead of this level resulting in fresh 2mth lows and bears
focused on Y108.10-81 where 2017 lows are noted. The Bollinger base (Y109.17) is
the key concern for bears. Layers of resistance are building and weighing on the
pair with bulls needing a close above Y109.58 to gain breathing room and above
Y110.25 to shift focus back to Y111.05-41 where key DMAs are noted.
SPOT GOLD TECHS: Focus Shifts to 2017 High, $1270.0 Support Key
*RES 4: $1337.4 - Monthly High Nov 9
*RES 3: $1295.9 - 2017 High June 6
*RES 2: $1291.0 - Daily Bull channel top
*RES 1: $1287.2 - Bollinger band top
*PRICE: $1285.5 @ 2130GMT
*SUP 1: $1283.5 - Hourly support Aug 10
*SUP 2: $1280.8 - High June 14 now support
*SUP 3: $1277.7 - Hourly support Aug 10a
*SUP 4: $1270.0 - Hourly support Aug 9
*COMMENTARY: Support emerging ahead of the 21-DMA Tuesday has provided the base
for a move that has taken out $1280.8 with immediate focus now on 2017 highs.
Layers of support continue to build with bears needing a close below $1270.0 to
confirm an easing of bullish pressure and to shift focus back to $1253.3-1256.6
where key DMAs and the daily bull channel base are situated.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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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.