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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]
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