MNI Asian Morning FX Technical Analysis

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]