MNI Asian Morning FX Technical Analysis

22 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: $0.7937 @ 0430GMT

*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 ($0.7756) 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: $0.7382 - 21-DMA 

*RES 2: $0.7377 - Hourly resistance Aug 7 

*RES 1: $0.7337 - High Aug 21

*PRICE: $0.7325 @ 2100GMT

*SUP 1: $0.7305 - Low Aug 21

*SUP 2: $0.7277 - Alternating hourly support/resistance

*SUP 3: $0.7254 - Hourly resistance Aug 16 now support 

*SUP 4: $0.7223 - Low Aug 16

*COMMENTARY: The $0.7277 support remains key this week 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 $0.7391 to confirm a break of the

21-DMA and 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$1.0886 - Bollinger band top

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

*PRICE: NZ$1.0836 @ 2100GMT

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

*SUP 2: NZ$1.0788 - Daily Bull channel base

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

*SUP 4: NZ$1.0739 - 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$1.0598-1.0656. Bulls continue to look for a close above NZ$1.0882

to reconfirm a bullish bias targeting NZ$1.0935-1.1020.

AUSSIE-YEN TECHS: Y87.42-88.02 Resistance Region Key

*RES 4: Y88.02 - High Aug 7 

*RES 3: Y87.56 - High Aug 17 

*RES 2: Y87.42 - 21-DMA 

*RES 1: Y87.04 - High Aug 18

*PRICE: Y86.51 @ 2100GMT

*SUP 1: Y86.16 - Low Aug 21

*SUP 2: Y85.98 - Low Aug 18

*SUP 3: Y85.42 - Low July 5

*SUP 4: Y85.18 - 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 (Y86.28) with

bears looking for a close below Y86.47 to retain focus on Y84.35-85.18 where 100

& 200-DMAs are situated.

EURO-AUSSIE TECHS: A$1.4928 Resistance Key 

*RES 4: A$1.5033 - High July 11

*RES 3: A$1.4953 - Low Aug 15 now resistance

*RES 2: A$1.4928 - Low Aug 14 now resistance

*RES 1: A$1.4907 - Hourly resistance Aug 16a

*PRICE: A$1.4878 @ 2100GMT

*SUP 1: A$1.4845 - Hourly resistance Aug 21 now support 

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

*SUP 3: A$1.4733 - 100-DMA 

*SUP 4: A$1.4731 - Low Aug 17

*COMMENTARY: Bears failed to capitalise on the dips below 21 (A$1.4842) & 55

(A$1.4827) 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$1.4443) with a close below

A$1.4570 confirming.

US DOLLAR-INDEX TECHS: 94.145-476 Resistance Key

*RES 4: 94.145 - High Aug 16 

*RES 3: 93.791 - Hourly resistance Aug 17 

*RES 2: 93.582 - High Aug 21 

*RES 1: 93.312 - Low Aug 17 now resistance

*PRICE: 93.123 @ 2130GMT

*SUP 1: 92.934 - Low Aug 8

*SUP 2: 92.717 - Bollinger band base

*SUP 3: 92.679 - Low Aug 3

*SUP 4: 92.548 - 2017 Low Aug 2

*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 92.535. Daily studies

correcting from modestly O/B added weight to the bearish case.

EURO-DOLLAR TECHS: Bulls Now Need Close Above $1.1861

*RES 4: $1.2046 Daily Bull channel top 

*RES 3: $1.1909 2017 High Aug 2 

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

*RES 1: $1.1828 High Aug 21

*PRICE: $1.1810 @ 2030GMT

*SUP 1: $1.1790 High Aug 17 now support 

*SUP 2: $1.1773 High Aug 18 now support 

*SUP 3: $1.1709 Hourly support Aug 18 

*SUP 4: $1.1663 Low Aug 17

*COMMENTARY: Support emerging on dips below $1.1700 the past week has provided

the catalyst for a rally Monday with bulls now needing a close above $1.1861 to

shift focus back to $1.1902-1.2046. Support layers are following the pair higher

with bears now needing a close below $1.1773 needed to shift focus back to

$1.1663-1.1709. Daily studies correcting from modestly O/S adds support to the

bullish case.

DOLLAR-YEN TECHS: Below Y108.10 Targets Y98.95-101.16

*RES 4: Y110.37 High Aug 17 

*RES 3: Y110.03 Hourly resistance Aug 17 

*RES 2: Y109.60 High Aug 18 

*RES 1: Y109.18 Hourly resistance Aug 21

*PRICE: Y108.90 @ 2030GMT

*SUP 1: Y108.61 Low Aug 18 

*SUP 2: Y108.10 2017 Low Apr 17 

*SUP 3: Y106.95 High Nov 10 now support 

*SUP 4: Y104.90 Low Nov 10

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

Wednesday with fresh 4mth lows Friday confirming focus on tests of 2017 lows.

Bears need a close below Y108.10 to shift immediate focus to Y106.95 and overall

focus to Y98.95-101.16 where 2016 lows are located. Bulls now need a close above

Y109.60 to gain breathing room. Bulls look for a close above Y110.61 to return

focus to Y111.05-29 and above this region to target the 200-DMA (Y112.56).

SPOT GOLD TECHS: Below $1267.5 To Shift Focus Lower

*RES 4: $1308.9 - Daily Bull channel top 

*RES 3: $1300.8 - 2017 High Aug 18 

*RES 2: $1296.0 - Bollinger band top 

*RES 1: $1293.9 - High Aug 21

*PRICE: $1291.6 @ 2130GMT

*SUP 1: $1280.6 - Hourly support Aug 21 

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

*SUP 3: $1274.4 - Daily Bull channel base 

*SUP 4: $1270.5 - 21-DMA

*COMMENTARY: Fresh 2017 and 10mth highs Friday lacked follow through but the

bounce from ahead of $1277.7 sees bulls reconfirming dominance and pressure on

2017 highs. The $1267.5-1277.7 support region is now key. bears need a close

below $1277.7 to ease bullish pressure and below $1267.5 to confirm break of the

21-DMA and bull channel base, shifting initial focus to 55 & 100-DMAs

($1253.0-1257.0).

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

[TOPICS: MTABLE]