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Biden Commits To Taiwan Defence, Beijing Pushes Back

DATA REACT

EURUSD to high of the day but limited FI reaction

30 August 2017
By Kyle Shortland
     
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: $0.7863-0.7903 Support Region Key
*RES 4: $0.8065 - 2017 High July 27
*RES 3: $0.8044 - High Aug 1
*RES 2: $0.7998 - Hourly resistance Aug 1
*RES 1: $0.7983 - High Aug 29
*PRICE: $0.7946 @ 2100GMT
*SUP 1: $0.7940 - Hourly resistance Aug 28 now support 
*SUP 2: $0.7921 - Hourly support Aug 29 
*SUP 3: $0.7903 - Low Aug 29 
*SUP 4: $0.7898 - Daily Bull channel base
*COMMENTARY: Support continues to emerge on dips back towards the bull channel
base with the $0.7863-0.7903 support region key. Bears now need a close below
$0.7903 to ease immediate bullish pressure and below $0.7863 to confirm a break
of the channel base and shift initial focus to $0.7781-0.7807 where the 55-DMA
($0.7796) is located. While $0.7903 supports bulls remain focused on 2017 highs.
The Bollinger top ($0.7986) is the key concern for bulls and currently caps.
KIWI TECHS: $0.7337-91 Resistance Region Key
*RES 4: $0.7320 - 55-DMA 
*RES 3: $0.7299 - Hourly resistance Aug 22, High Aug 29 
*RES 2: $0.7284 - Hourly resistance Aug 29 
*RES 1: $0.7263 - Alternating hourly support/resistance
*PRICE: $0.7256 @ 2100GMT
*SUP 1: $0.7243 - Hourly support Aug 29 
*SUP 2: $0.7210 - Hourly support Aug 25 
*SUP 3: $0.7192 - Low Aug 24
*SUP 4: $0.7176 - 100-DMA
*COMMENTARY: The break of the $0.7277 support was noted as a concern for bulls
and sees bears focused on the $0.7127-90 region where 100 & 200-DMAs are
situated. Bears take comfort in the pair remaining capped ahead of the 55-DMA
and $0.7337 resistance. Bulls continue to look for a close above $0.7337 to
confirm an easing of bearish pressure and above $0.7391 to shift focus back to
2017 highs.
AUSSIE-KIWI TECHS: NZ$1.0880-1.0913 Support Region Key
*RES 4: NZ$1.1147 - Low Apr 21 now resistance
*RES 3: NZ$1.1034 - Low Apr 13 now resistance
*RES 2: NZ$1.1020 - 2017 High Mar 16
*RES 1: NZ$1.0983 - High Aug 28
*PRICE: NZ$1.0960 @ 2100GMT
*SUP 1: NZ$1.0950 - Hourly resistance Aug 29 now support
*SUP 2: NZ$1.0913 - Hourly resistance Aug 23 now support
*SUP 3: NZ$1.0880 - High Aug 17 now support
*SUP 4: NZ$1.0858 - Low Aug 23
*COMMENTARY: Bulls took 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 remain with
bears needing a close below NZ$1.0913 to ease bullish pressure and below
NZ$1.0880 to shift focus back to NZ$1.0794-1.0820.
AUSSIE-YEN TECHS: Y87.55-88.02 Resistance Region Remains Key
*RES 4: Y88.15 - Bollinger band top 
*RES 3: Y88.02 - High Aug 7 
*RES 2: Y87.56 - High Aug 17 
*RES 1: Y87.37 - High Aug 29
*PRICE: Y87.18 @ 2100GMT
*SUP 1: Y87.11 - High Aug 28 now support
*SUP 2: Y86.83 - Hourly support Aug 29
*SUP 3: Y86.67 - Hourly support Aug 29a
*SUP 4: Y86.12 - Hourly support Aug 29b
*COMMENTARY: Volatility saw the pair dip back towards the 100 & 200-DMAs in the
Y85.04-42 region before rallying aggressively to pressure the key Y87.56-88.02
resistance region. Bulls need a close above Y88.02 to end bearish hopes and
shift focus to Y88.81-89.42 where 2017 highs are noted. While Y87.56 caps bears
remain focused on Y85.04-42 where 100 (Y85.04) & 200 (Y85.30) DMAs are located
with a close below the 100-DMA to initially target Y83.72 June 22 lows.
EURO-AUSSIE TECHS: Topside Follow Through Lacking 
*RES 4: A$1.5298 - High June 20 2016
*RES 3: A$1.5226 - 2017 High June 1
*RES 2: A$1.5175 - High Aug 29
*RES 1: A$1.5119 - Hourly resistance Aug 29
*PRICE: A$1.5057 @ 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$1.4833) bulls
capitalised last week with a rally that sees bulls focused on A$1.5226-1.5364
where 2017 highs are located. The Bollinger top (A$1.5064) is the key concern
for bulls and currently limits follow through. Bears continue to 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: 92.591-93.117 Resistance Key
*RES 4: 93.451 - Hourly resistance Aug 23 
*RES 3: 93.117 - Hourly support Aug 25 now resistance 
*RES 2: 92.820 - Hourly resistance Aug 25a 
*RES 1: 92.591 - 200-WMA
*PRICE: 92.329 @ 2130GMT
*SUP 1: 91.621 - 2017 Low Aug 29
*SUP 2: 91.514 - Low Jan 15 2015
*SUP 3: 91.117 - Low Jan 6 2015
*SUP 4: 91.331 - Low Jan 2 2015
*COMMENTARY: Fresh 2017 and 2+ year lows for the index lacked follow through
with the Bollinger base (92.366) remaining an issue and leaving the move looking
a little overdone at yesterday's lows. The 200-WMA remains initial resistance
with bulls needing a close above to gain breathing room and above 93.117 to
shift focus back to 93.451-94.145. While 93.117 caps bears focus on tests of
89.776-90.325 with a close below 91.331 to add weight to their case.
EURO-DOLLAR TECHS: Bears Need Close Below $1.1916
*RES 4: $1.2131 Daily Bull channel top 
*RES 3: $1.2092 Low Jan 1 2016 now res 
*RES 2: $1.2070 2017 High Aug 29 
*RES 1: $1.2009 Hourly support Aug 29 now resistance
*PRICE: $1.1965 @ 2030GMT
*SUP 1: $1.1943 Hourly resistance Aug 28 now support 
*SUP 2: $1.1916 Hourly support Aug 25 
*SUP 3: $1.1890 Hourly resistance Aug 25 now support 
*SUP 4: $1.1861 Alternating hourly support/resistance
*COMMENTARY: Fresh 2017 highs continue for the pair as bulls focus on the daily
bull channel top around $1.2131. The Bollinger top ($1.1952) appears to be
impacting with the pair capped ahead of $1.2092. Layers of support remain with
bears needing a close below $1.1916 to ease bullish pressure and below $1.1828
to shift focus back to $1.1665-77 where the bull channel base is noted.
DOLLAR-YEN TECHS: Pressure Back On Y110.03-37
*RES 4: Y111.05 High Aug 4 
*RES 3: Y110.37 High Aug 17 
*RES 2: Y110.03 Hourly resistance Aug 17 
*RES 1: Y109.90 High Aug 29
*PRICE: Y109.72 @ 2030GMT
*SUP 1: Y109.41 Hourly resistance Aug 28 now support 
*SUP 2: Y108.96 Hourly resistance Aug 29 now support 
*SUP 3: Y108.27 Low Aug 29 
*SUP 4: Y108.10 2017 Low Apr 17
*COMMENTARY: The Y108.10 support confirmed significance with the pair bouncing
aggressively. Pressure has returned to Y110.03-37 with bulls needing a close
above Y110.37 to confirm a shift in focus back to Y111.05-33. Bears still 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. A close below
Y108.96 is needed to retain focus on Y107.47-108.10.
SPOT GOLD TECHS: 
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]