MNI Asian Morning FX Technical Analysis

25 August 2017

By Kyle Shortland

Click below for today's MNI FX Technical Analysis Report -

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bull Channel Base Supporting

*RES 4: $0.8044 - High Aug 1

*RES 3: $0.7998 - Hourly resistance Aug 1

*RES 2: $0.7963 - High Aug 17

*RES 1: $0.7917 - 21-DMA

*PRICE: $0.7900 @ 2100GMT

*SUP 1: $0.7872 - Daily Bull channel base 

*SUP 2: $0.7863 - Low Aug 24 

*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. In saying that, yet another correction is

finding support around the daily bull channel base. Bears now look for a close

below $0.7863 to confirm an easing of bullish pressure & to shift focus back to

$0.7710-0.7807 where the 55-DMA ($0.7774) 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: $0.7299 - Hourly resistance Aug 22 

*RES 3: $0.7273 - Low Aug 22 now resistance 

*RES 2: $0.7256 - Hourly resistance Aug 23 

*RES 1: $0.7235 - High Aug 24

*PRICE: $0.7203 @ 2100GMT

*SUP 1: $0.7192 - Low Aug 24 

*SUP 2: $0.7170 - Low June 7

*SUP 3: $0.7167 - 100-DMA 

*SUP 4: $0.7124 - 200-DMA

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

and sees bears focused on the $0.7115-70 region where 100 & 200-DMAs are

situated. Layers of resistance continue to build and weigh on the pair with

bulls needing a close above $0.7235 to gain breathing room and above $0.7273 now

to shift focus back to $0.7317-0.7348 where 21 & 55-DMAs are located.

AUSSIE-KIWI TECHS: Bears Need Close Below NZ$1.0880

*RES 4: NZ$1.1167 - 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 & Aug 24

*PRICE: NZ$1.0963 @ 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

reconfirmed 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$1.0794-1.0817.

AUSSIE-YEN TECHS: Y87.55-88.02 Resistance Region Key

*RES 4: Y88.02 - High Aug 7 

*RES 3: Y87.56 - High Aug 17 

*RES 2: Y87.09 - 21-DMA 

*RES 1: Y87.04 - High Aug 18

*PRICE: Y86.56 @ 2100GMT

*SUP 1: Y85.91 - Low Aug 24

*SUP 2: Y85.44 - Bollinger band base

*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 Y84.92-85.42 support region where

100 (Y84.92) & 200-DMAs are located with a close below the 100-DMA to initially

target Y83.72 June 22 lows.

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

*RES 4: A$1.5075 - High July 6

*RES 3: A$1.5045 - Bollinger band top

*RES 2: A$1.5033 - High July 11

*RES 1: A$1.4989 - Daily Bear channel top

*PRICE: A$1.4937 @ 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$1.4874) & 55

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

close above A$1.4928 shifted immediate focus to layers of resistance

A$1.4989-1.5109 where the bear channel top is located. Layers of support remain

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$1.4442-1.4561.

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: 93.292 @ 2130GMT

*SUP 1: 93.126 - Low Aug 23

*SUP 2: 92.934 - Low Aug 8

*SUP 3: 92.745 - Bollinger band base

*SUP 4: 92.679 - Low Aug 3

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

focus remaining on tests of 2017 lows and the 91.919-92.548 region 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 needing a

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

94.476 then confirms focus on 95.005-464 where the 55-DMA (95.005) 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: $1.1799 @ 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: The pair continues to find support on dips with pressure remaining

on key resistance layers. Bulls still look for a close above $1.1861 to test

2017 highs with a close above current 2017 highs needed to target $1.1976-1.2097

where the bull channel top is located. Daily studies remain well placed for a

fresh leg higher. Bears 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: Y107.47-108.10 Support Region Key

*RES 4: Y110.03 Hourly resistance Aug 17 

*RES 3: Y109.98 21-DMA 

*RES 2: Y109.93 High Aug 23 

*RES 1: Y109.62 Hourly support Aug 23a now resistance e

*PRICE: Y109.48 @ 2030GMT

*SUP 1: Y108.61 Low Aug 18 

*SUP 2: Y108.10 2017 Low Apr 17 

*SUP 3: Y107.47 Monthly High July 21 now support 

*SUP 4: Y106.95 High Nov 10 now support

*COMMENTARY: The Y107.45-108.10 support remains key. Bears need a close below

Y108.10 to hint at a shift lower with below Y107.47 to confirm immediate focus

on Y106.95 and overall focus on Y99.08-101.16. The Y110.61 resistance remains

key with bulls needing a close above to confirm breaks of the 21-DMA and bear

channel top (Y109.96, returning focus to Y111.05-21 and above this region to

target the 200-DMA (Y112.56).

SPOT GOLD TECHS: $1267.5-1277.7 Support Region Key

*RES 4: $1316.0 - Daily Bull channel top 

*RES 3: $1300.8 - 2017 High Aug 18 

*RES 2: $1298.1 - Bollinger band top 

*RES 1: $1293.9 - High Aug 21

*PRICE: $1286.1 @ 2130GMT

*SUP 1: $1284.4 - Low Aug 24 

*SUP 2: $1280.8 - Daily Bull channel base 

*SUP 3: $1277.7 - Alternating hourly support/resistance 

*SUP 4: $1275.6 - 21-DMA

*COMMENTARY: Fresh 2017 and 10mth highs lacked follow through but bounces ahead

of $1277.7 see bulls reconfirming dominance and focus 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 shift initial focus to 55 & 100-DMAs

($1254.5-1257.2). Bulls need a close above $1293.9 to gain breathing room.

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

[TOPICS: MTABLE]