MNI Asian Morning FX Technical Analysis

21 August 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bulls Need Close Above $0.7963

*RES 4: $0.8065 - 2017 High July 27

*RES 3: $0.8044 - High Aug 1

*RES 2: $0.7998 - Hourly resistance Aug 1

*RES 1: $0.7963 - High Aug 17

*PRICE: $0.7928 @ 210GMT

*SUP 1: $0.7902 - Alternating hourly support/resistance 

*SUP 2: $0.7867 - Hourly resistance Aug 16a now support 

*SUP 3: $0.7849 - Hourly support Aug 16 

*SUP 4: $0.7807 - Low Aug 15

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

week was less than ideal for bulls. The $0.7867 support remains key this week

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 ($0.7748) is noted. Bulls

still need a close above $0.7963 to shift focus back to $0.8044-65 where 2017

highs are located.

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

*RES 4: $0.7391 - Low July 21 now resistance 

*RES 3: $0.7388 - 21-DMA 

*RES 2: $0.7377 - Hourly resistance Aug 7 

*RES 1: $0.7335 - High Aug 17

*PRICE: $0.7312 @ 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 now look for a close above

$0.7391 to shift overall focus back to tests of 2017 highs.

AUSSIE-KIWI TECHS: NZ$1.0882 Resistance Remains Key

*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$1.0878 - Bollinger band top

*PRICE: NZ$1.0842 @ 2100GMT

*SUP 1: NZ$1.0794 - Hourly support Aug 15

*SUP 2: NZ$1.0772 - Hourly support Aug 15a

*SUP 3: NZ$1.0764 - Daily Bull channel base

*SUP 4: NZ$1.0729 - 21-DMA

*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. The 21-DMA is key support this

week. Bears need a close below the 21-DMA to shift initial focus to DMAs

clustered NZ$1.0592-1.0656. Bulls continue to look for a close above NZ$1.0882

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

AUSSIE-YEN TECHS: Y87.50-88.02 Resistance Region Key

*RES 4: Y88.02 - High Aug 7 

*RES 3: Y87.56 - High Aug 17 

*RES 2: Y87.50 - 21-DMA 

*RES 1: Y87.04 - High Aug 18

*PRICE: Y86.58 @ 2100GMT

*SUP 1: Y86.47 - Hourly resistance Aug 18 now support

*SUP 2: Y85.98 - Low Aug 18

*SUP 3: Y85.42 - Low July 5

*SUP 4: Y85.16 - 200-DMA

*COMMENTARY: The 21-DMA capped last week with bulls now needing a close above

Y87.56 to confirm a break of the 21-DMA, easing bearish pressure and above

Y88.02 to end bearish hopes and shift focus to Y88.81-89.42 where 2017 highs are

located. Bulls take comfort in the recovery from below the 55-DMA (Y86.21) with

bears now looking for a close below Y86.47 to retain focus on Y84.35-85.16 where

100 & 200-DMAs are situated.

EURO-AUSSIE TECHS: A$1.4928 Resistance Key 

*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$1.4882 - High Aug 18

*PRICE: A$1.4834 @ 2100GMT

*SUP 1: A$1.4783 - Hourly support Aug 17a 

*SUP 2: A$1.4731 - Low Aug 17 

*SUP 3: A$1.4724 - 100-DMA 

*SUP 4: A$1.4674 - High July 27 now support

*COMMENTARY: Bears failed to capitalise on the dips below 21 (A$1.4836) & 55

(A$1.4830) DMAs Thursday with the pair bouncing from ahead of the 100-DMA. 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 remains key with bears needing a close

below to hint at a move back to the 200-DMA (A$1.4440) 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: 93.791 - Hourly resistance Aug 17

*PRICE: 93.428 @ 2130GMT

*SUP 1: 93.312 - Low 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 94.145-476 still key. Bulls need a close above 94.476 to confirm

focus on 95.167-464 where the 55-DMA (95.199) 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 92.537. Daily studies

looking to correct from modestly O/B adds weight to the bearish case.

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

*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: $1.1790 High Aug 17

*PRICE: $1.1755 @ 2030GMT

*SUP 1: $1.1709 Hourly support Aug 18 

*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 remains needed to gain breathing

room with above $1.1861 to shift focus back to $1.1902-1.2043. Below $1.1663 is

needed to shift focus to the bull channel base. The base comes in around $1.1604

with bears needing a close below $1.1583 to confirm a break and initially target

the 55-DMA ($1.1489).

DOLLAR-YEN TECHS: Bears Focused On 2017 Low

*RES 4: Y110.61 Hourly support Aug 16 now resistance 

*RES 3: Y110.37 High Aug 17 

*RES 2: Y110.03 Hourly resistance Aug 17 

*RES 1: Y109.60 High Aug 18

*PRICE: Y109.20 @ 2030GMT

*SUP 1: Y108.93 Hourly resistance Aug 18 now support 

*SUP 2: Y108.61 Low Aug 18 

*SUP 3: Y108.10 2017 Low Apr 17 

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

*COMMENTARY: The recovery from previous week's lows ended ahead of key DMAs

Wednesday. Bulls need a close above Y110.61 to return focus to Y111.05-28, above

the 55-DMA (Y111.28) to hint at a shift higher in focus and above the 200-DMA

(Y112.56) to target Y114.50-115.50. Bears are currently focused on 2017 lows

with the Bollinger base (Y108.95) again limiting follow through. Bears look for

a close below current 2017 lows to confirm initial focus on Y106.95.

SPOT GOLD TECHS: Below $1267.5 To Shift Focus Lower

*RES 4: $1306.6 - Daily Bull channel top 

*RES 3: $1300.8 - 2017 High Aug 18 

*RES 2: $1293.4 - Bollinger band top 

*RES 1: $1292.0 - Alternating hourly support/resistance

*PRICE: $1284.4 @ 2130GMT

*SUP 1: $1281.1 - Low Aug 17 

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

*SUP 3: $1272.2 - Daily Bull channel base 

*SUP 4: $1267.5 - Low Aug 15

*COMMENTARY: Fresh 2017 and 10mth highs Friday lacked follow through with gold

looking a little heavy to end the week. The Bollinger band top continues to

limit follow through and remains a concern for bulls. Initial resistance is

noted at $1292.0 with bulls needing a close above to gain breathing room and

retain focus on $1306.6-1337.4. Bears need a close below $1277.7 to ease bullish

pressure and return initial focus to $1267.5-1272.2.

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

[TOPICS: MTABLE]