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MNI Asian Morning FX Technical Analysis 

28 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, $0.7963 Resistance Key
*RES 4: $0.8044 - High Aug 1
*RES 3: $0.7998 - Hourly resistance Aug 1
*RES 2: $0.7963 - High Aug 17
*RES 1: $0.7954 - High Aug 25
*PRICE: $0.7923 @ 2130GMT
*SUP 1: $0.7895 - Hourly support Aug 25 
*SUP 2: $0.7881 - Daily Bull channel base 
*SUP 3: $0.7863 - Low Aug 24 
*SUP 4: $0.7849 - Hourly support Aug 16
*COMMENTARY: Bulls take comfort in support emerging around the bull channel base
and ahead of $0.7849 that retains pressure on $0.7963. Bulls need a close above
$0.7963 to shift focus back to $0.8044-65 where 2017 highs are found. Layers of
support are starting to build with bears now needing a close below $0.7895 to
ease pressure on $0.7963 and below $0.7863 to confirm an easing of bullish
pressure & shift focus back to $0.7710-0.7807 with the 55-DMA at $0.7788.
KIWI TECHS: $0.7337-91 Resistance Region Key
*RES 4: $0.7319 - 55-DMA 
*RES 3: $0.7299 - Hourly resistance Aug 22 
*RES 2: $0.7273 - Low Aug 22 now resistance 
*RES 1: $0.7258 - High Aug 25
*PRICE: $0.7240 @ 2100GMT
*SUP 1: $0.7210 - Hourly support Aug 25 
*SUP 2: $0.7192 - Low Aug 24
*SUP 3: $0.7173 - 100-DMA 
*SUP 4: $0.7170 - Low June 7
*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 $0.7273 to shift focus back to $0.7318-0.7337 where
21 & 55-DMAs are located. Bears need a close below the 200-DMA ($0.7126) to
target 2017 lows.
AUSSIE-KIWI TECHS: Bears Need Close Below NZ$1.0880
*RES 4: NZ$1.1179 - 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$1.0972 - High Aug 25
*PRICE: NZ$1.0933 @ 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$1.1020-34. 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: Y87.04 - High Aug 18 
*RES 1: Y87.00 - 21-DMA
*PRICE: Y86.56 @ 2100GMT
*SUP 1: Y85.91 - Low Aug 24
*SUP 2: Y85.49 - Bollinger band base
*SUP 3: Y85.42 - Low July 5
*SUP 4: Y85.25 - 200-DMA
*COMMENTARY: The 21-DMA continues to cap 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 (Y84.95) & 200-DMAs are located with a close below the 100-DMA to initially
target Y83.72 June 22 lows.
EURO-AUSSIE TECHS: Bulls Focused On 2017 High 
*RES 4: A$1.5298 - High June 20 2016
*RES 3: A$1.5226 - 2017 High June 1
*RES 2: A$1.5109 - High June 6
*RES 1: A$1.5106 - Hourly resistance Aug 28
*PRICE: A$1.5060 @ 2100GMT
*SUP 1: A$1.4990 - High Aug 24 now support 
*SUP 2: A$1.4900 - Hourly support Aug 23 
*SUP 3: A$1.4880 - Hourly support Aug 23a 
*SUP 4: A$1.4827 - Low Aug 22
*COMMENTARY: Having found support ahead of the 55-DMA (A$1.4830) bulls
capitalised last week with a rally that now sees bulls focused on
A$1.5223-1.5364 where 2017 highs are located. The Bollinger top (A$1.5052) is
the key concern for bulls with potential to limit follow through. Bears now look
for a close below A$1.4990 to ease immediate bullish pressure and below A$1.4880
to shift focus to A$1.4732.
US DOLLAR-INDEX TECHS: 
EURO-DOLLAR TECHS: Bulls Focused On Bull Channel Top
*RES 4: $1.2254 High Dec 25 2014 
*RES 3: $1.2108 Daily Bull channel top 
*RES 2: $1.2092 Low Jan 1 2016 now resistance 
*RES 1: $1.1976 High Jan 5 2015
*PRICE: $1.1950 @ 2030GMT
*SUP 1: $1.1890 Hourly resistance Aug 25 now support 
*SUP 2: $1.1861 Alternating hourly support/resistance 
*SUP 3: $1.1828 High Aug 21 now resistance 
*SUP 4: $1.1773 Alternating hourly support/resistance
*COMMENTARY: The pair repeatedly found support on dips last week resulting in a
break higher to fresh 2017 highs Friday and bulls now focused on the daily bull
channel top. The Bollinger top ($1.1916) is now the key concern for bulls with
potential to limit follow through. Layers of support are following the pair
higher with bears now needing a close below $1.1861 to ease bullish pressure and
below $1.1828 to initially pressure $1.1729.
DOLLAR-YEN TECHS: Bulls Need Close Above Y110.37
*RES 4: Y110.37 High Aug 17 
*RES 3: Y110.03 Hourly resistance Aug 17 
*RES 2: Y109.83 High Aug 23, 21-DMA 
*RES 1: Y109.48 Alternating hourly support/resistance
*PRICE: Y109.16 @ 2030GMT
*SUP 1: Y109.06 Hourly support Aug 24 
*SUP 2: Y108.61 Low Aug 18 
*SUP 3: Y108.10 2017 Low Apr 17 
*SUP 4: Y107.47 Monthly High July 21 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 Y110.37 resistance remains
key with bulls needing a close above to confirm breaks of the 21-DMA and bear
channel top (Y109.83), returning focus to Y111.05-33 and above this region to
target the 200-DMA (Y112.53).
SPOT GOLD TECHS: Focus Remains On Channel Top
*RES 4: $1318.3 - Daily Bull channel top 
*RES 3: $1300.8 - 2017 High Aug 18 
*RES 2: $1299.3 - Bollinger band top 
*RES 1: $1294.5 - High Aug 25
*PRICE: $1291.1 @ 2130GMT
*SUP 1: $1287.9 - Hourly support Aug 25 
*SUP 2: $1275.3 - Low Aug 25 
*SUP 3: $1267.5 - Low Aug 15 
*SUP 4: $1257.5 - 100-DMA
*COMMENTARY: Volatility Friday saw gold dip into the previously noted
$1267.5-1277.7 support region before rallying aggressively and maintaining focus
on the daily bull channel top and recent 2017 highs. The Bollinger top is the
key concern for bulls. Initial support is noted at $1287.9 with bears needing a
close below to gain breathing room. A close below $1267.5 is needed to shift
initial focus to 55 & 100-DMAs ($1254.9-1257.5).
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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