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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]
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