MNI Asian Morning FX Technical Analysis

15 August 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Pressure Remains On Key Support

*RES 4: $0.7949 - High Aug 7

*RES 3: $0.7929 - 21-DMA

*RES 2: $0.7919 - High Aug 14

*RES 1: $0.7885 - Hourly support Aug 14 now resistance

*PRICE: $0.7856 @ 2100GMT

*SUP 1: $0.7885 - Hourly support Aug 14

*SUP 2: $0.7868 - Hourly resistance Aug 11 now support

*SUP 3: $0.7838 - High July 17 now support

*SUP 4: $0.7781 - Low July 17

*COMMENTARY: The key $0.7838 support confirmed significance last week having

remained unbroken under pressure. Overall a close below $0.7838 is needed to

shift focus to $0.7749-0.7781. Bulls continue to look for a close above $0.7949

to hint at a move back to $0.8044-65 with above $0.7998 needed to confirm. The

Bollinger base ($0.7832) remains the key concern for bears with potential to

limit follow through.

KIWI TECHS: Bears Need Close Below $0.7250

*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: $0.7302 - Hourly resistance Aug 14

*PRICE: $0.7288 @ 2100GMT

*SUP 1: $0.7275 - Hourly support Aug 11

*SUP 2: $0.7250 - Low July 17

*SUP 3: $0.7203 - Monthly Low July 11

*SUP 4: $0.7170 - Low June 7

*COMMENTARY: The break and close below the daily bull channel base and 21-DMA

added weight to the bearish case with bears needing a close below $0.7250 to

shift focus to $0.7115-0.7203 where 100 & 200-DMAs are situated. The Bollinger

base ($0.7253) and studies approaching O/S are key concerns for bears. In saying

that, bulls need a close above the 21-DMA ($0.7402) to ease bearish pressure and

shift focus back to $0.7458-0.7577.

AUSSIE-KIWI TECHS: Bulls Need Close Above NZ$1.0882

*RES 4: NZ$1.0935 - Monthly High May 1

*RES 3: NZ$1.0882 - Low May 1 now resistance

*RES 2: NZ$1.0861 - High Aug 10

*RES 1: NZ$1.0821 - High Aug 14

*PRICE: NZ$1.0776 @ 2100GMT

*SUP 1: NZ$1.0734 - Hourly resistance Aug 10 now support

*SUP 2: NZ$1.0713 - 21-DMA

*SUP 3: NZ$1.0691 - Low Aug 10

*SUP 4: NZ$1.0659 - 100-DMA

*COMMENTARY: The rally from ahead of the 21-DMA and bull channel base is

struggling with daily studies looking to correct from O/B weighing. NZ$1.0691

support is key with bears needing a close below to confirm breaks of key

supports and shift focus to NZ$1.0566-1.0659. Resistance layers are starting to

accumulate with bulls needing a close above NZ$1.0821 to gain breathing room and

above NZ$1.0882 to reconfirm a bullish bias targeting NZ$1.0935-1.1062.

AUSSIE-YEN TECHS: Y87.24-88.03 Resistance Region Key

*RES 4: Y87.87 - 21-DMA 

*RES 3: Y87.24 - Hourly support Aug 9a now resistance 

*RES 2: Y87.10 - High Aug 10 

*RES 1: Y86.78 - Hourly resistance Aug 10a

*PRICE: Y86.13 @ 2100GMT

*SUP 1: Y86.03 - Hourly support Aug 11

*SUP 2: Y85.89 - 55-DMA

*SUP 3: Y85.42 - Low July 5

*SUP 4: Y85.04 - 200-DMA

*COMMENTARY: The 21-DMA (Y87.87) capped last week and set the scene for losses.

The dip below the 55-DMA lacked follow through Friday which is less than ideal

for bears who are focused on 100 & 200-DMAs. Layers of resistance remain with

bulls now needing a close above Y87.24 to shift focus to Y87.87-88.03 where the

21-DMA is noted. Bears look for a close below Y86.03 today to retain focus on

100 & 200-DMAs.

EURO-AUSSIE TECHS: Bulls Focused On A$1.5033-1.5224 

*RES 4: A$1.5109 - High June 6

*RES 3: A$1.5075 - High July 6

*RES 2: A$1.5059 - Bollinger band top

*RES 1: A$1.5033 - High July 11

*PRICE: A$1.5005 @ 2100GMT

*SUP 1: A$1.4928 - Low Aug 14 

*SUP 2: A$1.4899 - Daily Bull channel base 

*SUP 3: A$1.4891 - Hourly support Aug 10 

*SUP 4: A$1.4818 - Hourly support Aug 2

*COMMENTARY: Pressure on the bear channel top (A$1.4929) took its toll with the

close above providing bullish confidence a boost. The close above A$1.4965 added

support to the bullish case with bulls now focused on A$ A$1.5033-1.5224 where

monthly highs and the bull channel top are located. Initial support is noted at

A$1.4928 today with bears needing a close below to ease immediate bullish

pressure and below A$1.4891 shift focus back to A$1.4781-1.4846.

US DOLLAR-INDEX TECHS: 93.888 Resistance Key This Week

*RES 4: 94.285 - High July 26 

*RES 3: 94.103 - High July 27 

*RES 2: 93.888 - High Aug 9 

*RES 1: 93.507 - High Aug 11

*PRICE: 93.401 @ 2130GMT

*SUP 1: 93.248 - Hourly support Aug 14

*SUP 2: 92.934 - Low Aug 8

*SUP 3: 92.679 - Low Aug 3

*SUP 4: 92.548 - 2017 Low Aug 2

*COMMENTARY: Despite recovering from recent 2017 lows the move stalled ahead of

the 21-DMA (93.672) with bulls needing a close above 93.888 to confirm an easing

of bearish pressure and above 94.476 to target 95.167-508 where the 55-DMA is

located. While 93.888 caps bears dominate and retain immediate bearish focus on

2017 lows and the 91.919-92.548 region overall where the 200-WMA, 2016 & 2017

lows are situated.

EURO-DOLLAR TECHS: $1.1861 Resistance Key

*RES 4: $1.1990 Daily Bull channel top 

*RES 3: $1.1909 2017 High Aug 2 

*RES 2: $1.1861 Hourly support Aug 3 now resistance 

*RES 1: $1.1810 Hourly support Aug 14 now resistance

*PRICE: $1.1788 @ 2030GMT

*SUP 1: $1.1770 Low Aug 14 

*SUP 2: $1.1747 Low Aug 11 

*SUP 3: $1.1721 21-DMA 

*SUP 4: $1.1690 Low Aug 9

*COMMENTARY: Bulls took comfort in support emerging on dips back towards the

21-DMA last week and look for a close above $1.1861 to confirm focus on

$1.1909-90 where 2017 highs and the bull channel top are noted. Support layers

are starting to accumulate with bears needing a close below $1.1747 to retain

pressure on the 21-DMA. Bears need a close below $1.1690 to add weight to their

case for a move that initially targets $1.1549-1.1648.

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: Y110.09 Daily Bear channel top

*PRICE: Y109.68 @ 2030GMT

*SUP 1: Y109.27 Hourly resistance Aug 14 now support 

*SUP 2: Y108.69 Monthly Low June 14 

*SUP 3: Y108.10 2017 Low Apr 17 

*SUP 4: Y106.95 High Nov 10 now support

*COMMENTARY: The Y110.25 resistance confirmed significance Thursday with the

pair remaining capped ahead of this level resulting in fresh 2mth lows and bears

focused on tests of Y108.10-69 where 2017 lows are noted. The Bollinger base

(Y108.99) is the key concern for bears. Layers of resistance are building and

weighing with bulls needing a close above Y110.25 to shift focus back to

Y110.82-111.34 where key DMAs are noted. Bears need a close below Y109.27 to end

correction talk.

SPOT GOLD TECHS: Bears Need Close Below $1270.0

*RES 4: $1295.9 - 2017 High June 6 

*RES 3: $1295.5 - Daily Bull channel top 

*RES 2: $1290.3 - Bollinger band top 

*RES 1: $1285.9 - Hourly resistance Aug 14

*PRICE: $1282.0 @ 2130GMT

*SUP 1: $1277.7 - Hourly support Aug 10a 

*SUP 2: $1270.0 - Hourly support Aug 9 

*SUP 3: $1263.4 - Hourly support Aug 9a 

*SUP 4: $1261.3 - 21-DMA

*COMMENTARY: Support emerging ahead of the 21-DMA Tuesday provided the base for

a move that has taken out $1280.8 with immediate focus now on 2017 highs. Layers

of support remain with bears needing a close below $1270.0 to confirm an easing

of bullish pressure and to shift focus back to $1253.9-1261.3 where key DMAs and

the daily bull channel base are situated. The Bollinger top currently limits

follow through.

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

[TOPICS: MTABLE]