MNI Asian Morning FX Technical Analysis

23 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: $0.8044 - High Aug 1

*RES 3: $0.7998 - Hourly resistance Aug 1

*RES 2: $0.7963 - High Aug 17

*RES 1: $0.7929 - Hourly resistance Aug 22

*PRICE: $0.7910 @ 2100GMT

*SUP 1: $0.7897 - Low Aug 22 

*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 ($0.7763) is noted. Bulls

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

highs are found.

KIWI TECHS: Looking A Little Heavy

*RES 4: $0.7377 - Hourly resistance Aug 7 

*RES 3: $0.7374 - 21-DMA 

*RES 2: $0.7337 - High Aug 21 

*RES 1: $0.7305 - Low Aug 21 now resistance

*PRICE: $0.7279 @ 2100GMT

*SUP 1: $0.7254 - Hourly resistance Aug 16 now support 

*SUP 2: $0.7223 - Low Aug 16

*SUP 3: $0.7203 - Monthly Low July 11 

*SUP 4: $0.7170 - Low June 7

*COMMENTARY: The break of the $0.7277 support is a concern for bulls and leaves

the pair looking heavy and focus having returned to $0.7203-23. Correcting O/B

daily studies remain the key concern for bears. Bulls now need a close above

$0.7305 to ease renewed bearish pressure and 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$1.0902 - Bollinger band top

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

*PRICE: NZ$1.0871 @ 2100GMT

*SUP 1: NZ$1.0840 - Hourly support Aug 22

*SUP 2: NZ$1.0794 - Hourly support Aug 15, Bull channel base

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

*SUP 4: NZ$1.0750 - 21-DMA

*COMMENTARY: Bulls take comfort in support emerging on dips back towards the

21-DMA and bull channel base. Bears continue to look for a close below the

21-DMA to shift initial focus to DMAs clustered NZ$1.0598-1.0656. Bulls are

currently focused on NZ$1.0882 and look for a close above to reconfirm a bullish

bias targeting NZ$1.0935-1.1020. Daily studies correcting from modestly O/B are

the key concern for bulls.

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: Y87.36 - 21-DMA 

*RES 1: Y87.04 - High Aug 18

*PRICE: Y86.69 @ 2100GMT

*SUP 1: Y86.16 - Low Aug 21

*SUP 2: Y85.98 - Low Aug 18

*SUP 3: Y85.42 - Low July 5

*SUP 4: Y85.20 - 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 (Y86.36) with

bears looking for a close below Y85.98 to retain focus on Y84.89-85.20 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$1.4865 @ 2100GMT

*SUP 1: A$1.4827 - Low Aug 22 

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

*SUP 3: A$1.4740 - 100-DMA 

*SUP 4: A$1.4731 - Low Aug 17

*COMMENTARY: Bears failed to capitalise on the dips below 21 (A$1.4851) & 55

(A$1.4824) 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$1.4447) with a close below

A$1.4570 confirming.

US DOLLAR-INDEX TECHS: Above 93.582 To Gain Breathing Room

*RES 4: 94.285 - High July 26 

*RES 3: 94.145 - High Aug 16 

*RES 2: 93.791 - Hourly resistance Aug 17 

*RES 1: 93.582 - High Aug 21

*PRICE: 93.493 @ 2130GMT

*SUP 1: 93.390 - Hourly support Aug 22

*SUP 2: 93.268 - Hourly support Aug 22

*SUP 3: 92.934 - Low Aug 8

*SUP 4: 92.733 - Bollinger band base

*COMMENTARY: Bulls take comfort in support layers building as the index recovers

lost ground, bouncing ahead of 92.934 Aug 8 lows. Bulls still need a close above

93.582 to ease immediate bearish pressure and above 93.791 to shift focus back

to the key 94.145-476 region. Above 94.476 then confirms focus on 95.135-464

where the 55-DMA (95.135) is situated. Bears now look for a close below 93.268

to retain focus on tests of 2017 lows and the 91.969-92.548 region as a whole.

EURO-DOLLAR TECHS: Remains Capped Ahead Of Key Resistance

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

*RES 3: $1.1828 High Aug 21 

*RES 2: $1.1795 Hourly support Aug 22 now resistance 

*RES 1: $1.1773 Alternating hourly support/resistance

*PRICE: $1.1762 @ 2030GMT

*SUP 1: $1.1745 Low Aug 22 

*SUP 2: $1.1709 Hourly support Aug 18 

*SUP 3: $1.1663 Low Aug 17 

*SUP 4: $1.1648 Low July 27

*COMMENTARY: The failure to trouble the key $1.1863 resistance is a concern for

bulls and leaves the pair looking a little heavy. The likely close below $1.1773

sees focus return to layers of support $1.1663-1.1709. The $1.1583 support

remains key. Bears need a close below $1.1583 to end bullish hopes and initially

target the 55-DMA ($1.1508). Above $1.1863 is needed to return pressure to

$1.1902-1.2057.

DOLLAR-YEN TECHS: Y108.10 Support Remains Key

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

*RES 3: Y110.37 High Aug 17 

*RES 2: Y110.26 Daily Bear channel top 

*RES 1: Y110.03 Hourly resistance Aug 17

*PRICE: Y109.58 @ 2030GMT

*SUP 1: Y109.13 Hourly support Aug 22 

*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: Bulls take comfort in support emerging ahead of the key Y108.10

level. 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 noted. The Y110.61 resistance

remains key with bulls needing a close above to return focus to Y111.05-25 and

above this region to target the 200-DMA (Y112.56). Bears look for a close below

Y109.13 to retain focus on the key Y108.10 support.

SPOT GOLD TECHS: $1267.5-1277.7 Support Region Key

*RES 4: $1311.1 - Daily Bull channel top 

*RES 3: $1300.8 - 2017 High Aug 18 

*RES 2: $1297.1 - Bollinger band top 

*RES 1: $1293.9 - High Aug 21

*PRICE: $1285.8 @ 2130GMT

*SUP 1: $1280.6 - Hourly support Aug 21 

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

*SUP 3: $1276.7 - Daily Bull channel base 

*SUP 4: $1272.3 - 21-DMA

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

bounce from ahead of $1277.7 saw bulls reconfirming dominance and pressure

remain on 2017 highs. The $1267.5-1277.7 support region remains 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 ($1254.9-1257.3).

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

[TOPICS: MTABLE]