MNI Asian Morning FX Technical Analysis

16 August 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Above $0.7847 To Gain Breathing Room

*RES 4: $0.7930 - 21-DMA

*RES 3: $0.7919 - High Aug 14

*RES 2: $0.7885 - Hourly support Aug 14 now resistance

*RES 1: $0.7847 - Hourly resistance Aug 15

*PRICE: $0.7820 @ 2100GMT

*SUP 1: $0.7809 - Low Aug 15 

*SUP 2: $0.7781 - Low July 17 

*SUP 3: $0.7749 - Hourly support July 14a 

*SUP 4: $0.7720 - 55-DMA

*COMMENTARY: The close below $0.7838 adds weight to the bearish case with focus

now on $0.7720-0.7781 where the 55-DMA is located. Below the 55-DMA then targets

$0.7563-0.7635 where 100 & 200-DMAs are situated. Initial resistance is now

noted at $0.7847 with bulls needing a close above to gain breathing room.

Overall a close above $0.7885 is then needed to shift focus back to $0.7930-49

where the 21-DMA is noted.

KIWI TECHS: Immediate Focus On $0.7203 Support

*RES 4: $0.7342 - Alternating hourly support/resistance 

*RES 3: $0.7312 - High Aug 15 

*RES 2: $0.7277 - Hourly support Aug 15 now resistance 

*RES 1: $0.7257 - Hourly resistance Aug 15

*PRICE: $0.7235 @ 2100GMT

*SUP 1: $0.7203 - Monthly Low July 11

*SUP 2: $0.7170 - Low June 7 

*SUP 3: $0.7149 - 100-DMA

*SUP 4: $0.7121 - 200-DMA

*COMMENTARY: Breaks of key supports continues with bears now initially focused

on $0.7203 and then 100 & 200-DMAs. Daily studies at O/S levels and the

Bollinger base ($0.7236) are key concerns for bears. In saying that, bulls now

need a close above $0.7277 to ease immediate bearish pressure and above $0.7342

to shift focus back to $0.7377-98 where the 21-DMA ($0.7398) is situated.

Overall a close above the 21-DMA is needed to hint at a move back to 2017 highs.

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$1.0810 @ 2100GMT

*SUP 1: NZ$1.0772 - Hourly support Aug 15

*SUP 2: NZ$1.0734 - Hourly resistance Aug 10 now support

*SUP 3: NZ$1.0721 - 21-DMA

*SUP 4: NZ$1.0691 - Low Aug 10

*COMMENTARY: Bulls take comfort in the bounce from ahead of the 21-DMA and daily

bull channel base (NZ$1.0727) despite daily studies remaining at O/B levels and

looking to correct. NZ$1.0691 support is key with bears needing a close below to

confirm breaks of key supports and shift focus to NZ$1.0571-1.0658. Resistance

layers remain 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$1.0935-1.1074.

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

*RES 4: Y87.80 - 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: Y86.57 @ 2100GMT

*SUP 1: Y86.30 - Hourly support Aug 15

*SUP 2: Y86.03 - Hourly support Aug 11

*SUP 3: Y85.95 - 55-DMA

*SUP 4: Y85.42 - Low July 5

*COMMENTARY: The 21-DMA (Y87.80) 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 Y87.80-88.03 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: Bears Need Close Below A$1.4928 

*RES 4: A$1.5109 - High June 6

*RES 3: A$1.5086 - Bollinger band top

*RES 2: A$1.5075 - High July 6

*RES 1: A$1.5033 - High July 11

*PRICE: A$1.5003 @ 2100GMT

*SUP 1: A$1.4953 - Low Aug 15 

*SUP 2: A$1.4928 - Low Aug 14, Daily Bull channel base 

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

*SUP 4: A$1.4847 - 55-DMA

*COMMENTARY: Immediate bullish focus remains on the A$1.5033-1.5109 resistance

region with bulls needing a close above to confirm focus on tests of 2017 highs

(A$1.5228). O/B daily studies remain the key concern for bulls. The A$1.4928

support remains key today with bears needing a close below to ease immediate

bullish pressure and below A$1.4891 shift focus back to A$1.4795-1.4847 where 21

& 55-DMAs are situated.

US DOLLAR-INDEX TECHS: Bears Need Close Below 93.541

*RES 4: 94.476 - Low July 18 now resistance 

*RES 3: 94.285 - High July 26 

*RES 2: 94.139 - High Aug 15 

*RES 1: 93.888 - Hourly resistance Aug 15

*PRICE: 93.852 @ 2130GMT

*SUP 1: 93.541 - Hourly resistance Aug 15 now support

*SUP 2: 93.248 - Hourly support Aug 14

*SUP 3: 92.934 - Low Aug 8

*SUP 4: 92.679 - Low Aug 3

*COMMENTARY: Bulls take comfort in the close above the 21-DMA (93.612) that

confirms an easing of bearish pressure and sees bulls now focused on the break

of 94.476 needed to confirm focus on 95.167-464 where the 55-DMA (95.446) is

situated. The 93.541 support is now key. Bears look for a close below this level

to signal a false break of the 21-DMA and an easing of bullish pressure with

focus then returning to 2017 lows.

EURO-DOLLAR TECHS: Bulls Need Close Above $1.1769

*RES 4: $1.1909 2017 High Aug 2 

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

*RES 2: $1.1810 Hourly support Aug 14 now resistance 

*RES 1: $1.1769 Hourly support Aug 15 now resistance

*PRICE: $1.1738 @ 2030GMT

*SUP 1: $1.1687 Low Aug 15 

*SUP 2: $1.1648 Low July 27 

*SUP 3: $1.1611 Low July 26 

*SUP 4: $1.1560 Daily Bull channel base

*COMMENTARY: Failure to trouble $1.1861 resulted in a dip below the 21-DMA

($1.1733) before bouncing from just below the $1.1690 support. The sell-off

leaves the pair looking a little heavy but a close below $1.1690 is needed to

add weight to the case for a move initially targeting $1.1560-1.1648. Layers of

resistance are accumulating with bulls needing a close above $1.1769 to ease

bearish pressure and above $1.1861 to shift focus back to $1.1909-1.2001.

DOLLAR-YEN TECHS: Hesitating Around 21-DMA, Y110.12 Support Key

*RES 4: Y112.51 200-DMA 

*RES 3: Y111.71 High July 27 

*RES 2: Y111.34 55-DMA 

*RES 1: Y110.85 High Aug 15

*PRICE: Y110.60 @ 2030GMT

*SUP 1: Y110.28 Hourly support Aug 15 

*SUP 2: Y110.12 Hourly support Aug 15a 

*SUP 3: Y109.80 High Aug 14 now support 

*SUP 4: Y109.27 Hourly resistance Aug 14 now support

*COMMENTARY: O/S studies appear to be impacting with the recovery from a lack of

follow through Friday seeing the pair flirt with the 21-DMA (Y110.71). The

55-DMA remains key resistance with bulls needing a close above to hint at a

shift higher in focus and above the 200-DMA to target Y114.50-115.50. Bears look

for a close below Y110.12 to ease bullish pressure and below Y109.40 to target

Y108.10-69 where 2017 lows are situated.

SPOT GOLD TECHS: 55-DMA Support Key

*RES 4: $1295.9 - 2017 High June 6 

*RES 3: $1289.2 - Bollinger band top 

*RES 2: $1285.9 - Hourly resistance Aug 14 

*RES 1: $1277.7 - Hourly support Aug 10a now resistance

*PRICE: $1271.5 @ 2130GMT

*SUP 1: $1267.5 - Low Aug 15 

*SUP 2: $1265.2 - High Aug 6 now support 

*SUP 3: $1263.1 - 21-DMA 

*SUP 4: $1254.1 - 55-DMA

*COMMENTARY: Gold is looking a little heavy as support layers give way with

bearish focus now on layers of support $1254.1-1265.2 where 21, 55 & 100-DMAs

and the bull channel base ($1263.3) are located. The $1277.7 resistance is now

key with bulls needing a close above to gain breathing room. A close above 2017

highs remains needed to reconfirm a bullish bias and target $1337.4 Nov monthly

highs.

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

[TOPICS: MTABLE]