Trial now
EURJPY TECHS

Corrective Cycle

USDJPY TECHS

Consolidating But Remains Bullish

EURGBP TECHS

Recovering, But Not Through Resistance

GBPUSD TECHS

Consolidation Mode

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]