MNI Asian Morning FX Technical Analysis

18 August 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Topside Follow Through Lacking

*RES 4: $0.8044 - High Aug 1

*RES 3: $0.7998 - Hourly resistance Aug 1

*RES 2: $0.7963 - High Aug 17

*RES 1: $0.7936 - Hourly resistance Aug 17

*PRICE: $0.7881 @ 2130GMT

*SUP 1: $0.7867 - Hourly resistance Aug 16a now support 

*SUP 2: $0.7849 - Hourly support Aug 16 

*SUP 3: $0.7807 - Low Aug 15 

*SUP 4: $0.7781 - Low July 17

*COMMENTARY: The lack of topside follow through on the break of $0.7949 is less

than ideal for bulls and leaves the pair looking a little heavy. Daily studies

correcting from modestly O/S levels is a concern for bears. The $0.7867 support

is key today with bears needing a close below to confirm an easing of bullish

pressure and shift focus back to $0.7739-0.7809 where the 55-DMA ($0.7739) is

noted. Bulls now need a close above $0.7963 to shift focus back to $0.8044-65.

KIWI TECHS: O/S Daily Studies Looking to Correct Higher

*RES 4: $0.7393 - 21-DMA 

*RES 3: $0.7377 - Hourly resistance Aug 7 

*RES 2: $0.7335 - High Aug 17 

*RES 1: $0.7314 - Hourly resistance Aug 17

*PRICE: $0.7280 @ 2100GMT

*SUP 1: $0.7277 - Alternating hourly support/resistance

*SUP 2: $0.7254 - Hourly resistance Aug 16 now support 

*SUP 3: $0.7223 - Low Aug 16

*SUP 4: $0.7203 - Monthly Low July 11

*COMMENTARY: Wednesday's bullish key day reversal has so far lacked follow

through with the pair looking a little heavy on the hourlies. The $0.7277

support remains key with bears needing a close below to shift focus back to

$0.7203-23. Correcting O/B daily studies remain the key concern for bears and

add support to the case for a correction. Bulls continue to look for a close

above the 21-DMA to shift overall focus back to tests of 2017 highs.

AUSSIE-KIWI TECHS: Looking A Little Heavy

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

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

*RES 2: NZ$1.0865 - Bollinger band top

*RES 1: NZ$1.0841 - Hourly resistance Aug 17

*PRICE: NZ$1.0828 @ 2100GMT

*SUP 1: NZ$1.0812 - Hourly support Aug 16

*SUP 2: NZ$1.0794 - Hourly support Aug 15

*SUP 3: NZ$1.0772 - Hourly support Aug 15a

*SUP 4: NZ$1.0751 - Daily Bull channel base

*COMMENTARY: Failure to take out NZ$1.0882 and the sell-off that followed are

concerns for bulls when combined with the Bollinger top limiting follow through

and daily studies looking to correct from O/B. Pressure has returned to the

NZ$1.0772-1.0812 support region. Bears need a close below NZ$1.0772 to pressure

NZ$1.0724-51 where the 21-DMA and bull channel base are situated. Bulls now need

a close above NZ$1.0882 to reconfirm a bullish bias targeting NZ$1.0935-1.1074.

AUSSIE-YEN TECHS: Pressure Back On 55-DMA

*RES 4: Y88.02 - High Aug 7 

*RES 3: Y87.61 - 21-DMA 

*RES 2: Y87.56 - High Aug 17 

*RES 1: Y86.78 - Alternating hourly support/resistance

*PRICE: Y86.34 @ 2100GMT

*SUP 1: Y86.12 - 55-DMA

*SUP 2: Y86.02 - Low Aug 15

*SUP 3: Y85.42 - Low July 5

*SUP 4: Y85.13 - 200-DMA

*COMMENTARY: The recovery from a dip below the 55-DMA (Y86.12) appears to be

struggling with the pair rejected ahead of the 21-DMA and key Y88.02 resistance.

Bulls need a close above Y88.02 to end bearish hopes and shift focus to

Y88.81-89.42 where 2017 highs are located. The pair remains heavy with bears

needing a close below the 55-DMA to add weight to the case for a test of 100 &

200-DMAs (Y84.82-85.13).

EURO-AUSSIE TECHS: Supported Ahead Of 100-DMA 

*RES 4: A$1.4953 - Low Aug 15 now resistance

*RES 3: A$1.4928 - Low Aug 14 now resistance

*RES 2: A$1.4907 - Hourly resistance Aug 16a

*RES 1: A$1.4875 - Hourly resistance Aug 16

*PRICE: A$1.4869 @ 2100GMT

*SUP 1: A$1.4836 - Hourly support Aug 17 

*SUP 2: A$1.4783 - Hourly support Aug 17a 

*SUP 3: A$1.4731 - Low Aug 17 

*SUP 4: A$1.4716 - 100-DMA

*COMMENTARY: Bears failed to capitalise on the dips below 21 (A$1.4825) & 55

(A$1.4835) DMAs with the pair bouncing from ahead of the 100-DMA for a

relatively bullish close. In saying that, bulls still need a close above

A$1.4928 to return focus to A$1.5033-1.5109. The A$1.4674 support is now key

with bears needing a close below to hint at a move back to the 200-DMA

(A$1.4438) with a close below A$1.4570 confirming.

US DOLLAR-INDEX TECHS: 94.145-476 Resistance Key

*RES 4: 94.476 - Low July 18 now resistance 

*RES 3: 94.285 - High July 26 

*RES 2: 94.145 - High Aug 16 

*RES 1: 93.790 - Hourly resistance Aug 17

*PRICE: 93.714 @ 2130GMT

*SUP 1: 93.551 - Hourly support Aug 17

*SUP 2: 93.248 - Hourly support Aug 14

*SUP 3: 92.934 - Low Aug 8

*SUP 4: 92.679 - Low Aug 3

*COMMENTARY: Topside follow through remains lacking with the DXY capped ahead of

94.145 and the 94.145-476 resistance region still key. Bulls need a close above

94.476 to confirm focus on 95.167-464 where the 55-DMA (95.321) is situated.

While 94.476 caps bears retain an advantage and focus on tests of 92.548 2017

lows and the 91.969-92.548 region as a whole with the 200-WMA noted at 92.467.

EURO-DOLLAR TECHS: $1.1790-1.1861 Resistance Region Key

*RES 4: $1.1861 Hourly support Aug 3 now resistance 

*RES 3: $1.1810 Hourly support Aug 14 now resistance 

*RES 2: $1.1790 High Aug 17 

*RES 1: $1.1763 Hourly support Aug 16 now resistance

*PRICE: $1.1721 @ 0430GMT

*SUP 1: $1.1714 Hourly resistance Aug 17 now support 

*SUP 2: $1.1663 Low Aug 17 

*SUP 3: $1.1648 Low July 27 

*SUP 4: $1.1611 Low July 26

*COMMENTARY: Support continues to emerge on dips below $1.1700 which provides

bulls some comfort but a close above $1.1810 is now needed to gain breathing

room with above $1.1861 to shift focus back to $1.1902-1.2033. The daily bull

channel base comes in around $1.1593 today with bears needing a close below

$1.1583 to confirm a break and shift immediate focus to the 55-DMA ($1.1481).

DOLLAR-YEN TECHS: Below Y109.27 Targets 2017 Low

*RES 4: Y110.80 Daily Bear channel top 

*RES 3: Y110.61 Hourly support Aug 16 now resistance 

*RES 2: Y110.37 High Aug 17 

*RES 1: Y110.03 Hourly resistance Aug 17

*PRICE: Y109.58 @ 2030GMT

*SUP 1: Y109.40 Hourly support Aug 14 

*SUP 2: Y109.27 Hourly resistance Aug 14 now support 

*SUP 3: Y108.69 Monthly Low June 14 

*SUP 4: Y108.10 2017 Low Apr 17

*COMMENTARY: The recovery from Friday's lows has ended with the pair capped

ahead of key DMAs Wednesday. Bulls need a close above Y110.62 to return focus to

Y111.05-30, above the 55-DMA (Y111.30) to hint at a shift higher in focus and

above the 200-DMA (Y112.54) to target Y114.50-115.50. Bears look for a close

below Y109.27 to target Y108.10-69 where 2017 lows are situated. Daily studies

have corrected back to more neutral levels.

SPOT GOLD TECHS: Bulls Focused On 2017 High

*RES 4: $1304.4 - Daily Bull channel top 

*RES 3: $1295.9 - 2017 High June 6 

*RES 2: $1292.7 - Bollinger band top 

*RES 1: $1292.0 - High Aug 11

*PRICE: $1288.4 @ 2130GMT

*SUP 1: $1281.1 - Low Aug 17 

*SUP 2: $1277.7 - Alternating hourly support/resistance 

*SUP 3: $1270.0 - Daily Bull channel base 

*SUP 4: $1267.5 - Low Aug 15

*COMMENTARY: Bears failed to capitalise further on the correction lower from

ahead of 2017 highs with gold finding support ahead of the daily bull channel

base and 21-DMA ($1267.3). The close above $1277.7 saw bulls gain breathing room

but a close above 2017 highs is needed to reconfirm the bullish bias. Bears need

a close below $1277.7 to ease bullish pressure and return initial focus to

$1267.2-1270.0.

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

[TOPICS: MTABLE]