MNI Asian Morning FX Technical Analysis

24 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: $0.7902 @ 2100GMT

*SUP 1: $0.7881 - Low Aug 23 

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

*SUP 3: $0.7861 - Daily Bull channel base 

*SUP 4: $0.7849 - Hourly support Aug 16

*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 $0.7749-0.7809 where the 55-DMA ($0.7770) 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: Bears Focused On 200-DMA

*RES 4: $0.7305 - Low Aug 21 now resistance 

*RES 3: $0.7299 - Hourly resistance Aug 22 

*RES 2: $0.7273 - Low Aug 22 now resistance 

*RES 1: $0.7256 - Hourly resistance Aug 23

*PRICE: $0.7230 @ 2100GMT

*SUP 1: $0.7198 - Low Aug 23 

*SUP 2: $0.7170 - Low June 7

*SUP 3: $0.7167 - 100-DMA 

*SUP 4: $0.7125 - 200-DMA

*COMMENTARY: The break of the $0.7277 support was noted as a concern for bulls

and has resulted in a dip that now sees bears focused on the $0.7115-70 region

where 100 & 200-DMAs are situated. Daily studies lingering around O/S and weekly

studies back at neutral levels are less than ideal for bears. In saying that,

bulls now need a close above $0.7273 to ease bearish pressure and above $0.74391

to shift focus back to 2017 highs.

AUSSIE-KIWI TECHS: Bullish Bias Reconfirmed

*RES 4: NZ$1.1147 - Daily Bull channel top

*RES 3: NZ$1.1034 - Low Apr 13 now resistance

*RES 2: NZ$1.1020 - 2017 High Mar 16

*RES 1: NZ$1.0966 - High Mar 31

*PRICE: NZ$1.0939 @ 2100GMT

*SUP 1: NZ$1.0913 - Hourly resistance Aug 23 now support

*SUP 2: NZ$1.0880 - High Aug 17 now support

*SUP 3: NZ$1.0858 - Low Aug 23

*SUP 4: NZ$1.0840 - Hourly support Aug 22

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

21-DMA and channel base which provided the catalyst for a break higher that

reconfirms the bullish bias and sees bulls focused on NZ$1.0966-1.1034. Bulls

need a close above NZ$1.1034 to confirm focus on NZ$1.1147-95. Support layers

are following the pair higher with bears now needing a close below NZ$1.0880 to

ease bullish pressure and shift focus back to NZ$1.0794.

AUSSIE-YEN TECHS: Looking A Little Heavy

*RES 4: Y87.56 - High Aug 17 

*RES 3: Y87.24 - 21-DMA 

*RES 2: Y87.04 - High Aug 18 

*RES 1: Y86.46 - Hourly resistance Aug 23

*PRICE: Y86.16 @ 2100GMT

*SUP 1: Y86.06 - Daily Bull channel base

*SUP 2: Y85.98 - Low Aug 18

*SUP 3: Y85.42 - Low July 5

*SUP 4: Y85.22 - 200-DMA

*COMMENTARY: The 21-DMA capped last week with bulls 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.

While Y87.56 caps bears remain focused on the Y84.91-85.42 support region where

100 (Y84.91) & 200-DMAs are located.

EURO-AUSSIE TECHS: Bears Need Close Below A$1.4880 

*RES 4: A$1.5075 - High July 6

*RES 3: A$1.5055 - Bollinger band top

*RES 2: A$1.5033 - High July 11

*RES 1: A$1.4995 - Daily Bear channel top

*PRICE: A$1.4943 @ 2100GMT

*SUP 1: A$1.4900 - Hourly support Aug 23 

*SUP 2: A$1.4880 - Hourly support Aug 23a 

*SUP 3: A$1.4827 - Low Aug 22 

*SUP 4: A$1.4783 - Hourly support Aug 17a

*COMMENTARY: Bears failed to capitalise on the dips below 21 (A$1.4863) & 55

(A$1.4824) DMAs last Thursday with the pair bouncing from ahead of the 100-DMA.

The close above A$1.4928 sees immediate focus now on layers of resistance

A$1.4995-1.5109 where the bear channel top is located. Layers of support are

accumulating with bears now needing a close below A$1.4880 to ease immediate

bullish pressure and below A$1.4739 to shift focus to A$1.4570.

US DOLLAR-INDEX TECHS: Focus Remains On 2017 Low

*RES 4: 94.145 - High Aug 16 

*RES 3: 93.791 - Hourly resistance Aug 17 

*RES 2: 93.628 - High Aug 23 

*RES 1: 93.451 - Hourly resistance Aug 23

*PRICE: 93.213 @ 2130GMT

*SUP 1: 93.126 - Low Aug 23

*SUP 2: 92.934 - Low Aug 8

*SUP 3: 92.752 - Bollinger band base

*SUP 4: 92.679 - Low Aug 32

*COMMENTARY: Bulls failed to capitalise on the recovery from the week's low with

focus remaining on tests of 2017 lows and 91.919-92.548 as a whole. Daily

studies are well placed for a fresh leg lower with the Bollinger base likely to

be the key concern. Layers of resistance remain with bulls still needing a close

above 93.791 to shift focus back to the key 94.145-476 region. Above 94.476 then

confirms focus on 95.072-464 where the 55-DMA (95.072) is situated.

EURO-DOLLAR TECHS: $1.1861-1.1909 Resistance Region Key

*RES 4: $1.1976 High Jan 5 2015 

*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: $1.1760 @ 2030GMT

*SUP 1: $1.1773 Alternating hourly support/resistance 

*SUP 2: $1.1740 Low Aug 23 

*SUP 3: $1.1709 Hourly support Aug 18 

*SUP 4: $1.1663 Low Aug 17

*COMMENTARY: Bulls continue to look for a close above $1.1861 to test 2017 highs

with a close above current 2017 highs needed to target $1.1976-1.2068 where the

bull channel top is located. Daily studies remain well placed for a fresh leg

higher. Bears now look for a close below $1.1773 to ease pressure on resistance

layers and below $1.1740 to pressure $1.1583-1.1663.

DOLLAR-YEN TECHS: Y108.10 Support Remains Key

*RES 4: Y110.08 21-DMA 

*RES 3: Y109.93 High Aug 23 

*RES 2: Y109.62 Hourly support Aug 23a now resistance 

*RES 1: Y109.31 Hourly support Aug 23 now resistance

*PRICE: Y109.03 @ 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 Y108.10 support remains key. 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 confirm breaks of the 21-DMA and bear channel top (Y110.26),

returning focus to Y111.05-24 and above this region to target the 200-DMA

(Y112.56). Below Y108.61 would add weight to the bearish case.

SPOT GOLD TECHS: 

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

[TOPICS: MTABLE]