MNI Asian Morning FX Technical Analysis

31 August 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: $0.7863 Support Key Today

*RES 4: $0.7996 - High Aug 30

*RES 3: $0.7977 - Hourly support Aug 30a now resistance

*RES 2: $0.7950 - Hourly support Aug 30 now resistance

*RES 1: $0.7911 - Hourly resistance Aug 30

*PRICE: $0.7900 @ 2100GMT

*SUP 1: $0.7889 - Low Aug 30 

*SUP 2: $0.7863 - Low Aug 24 

*SUP 3: $0.7807 - Low Aug 15 

*SUP 4: $0.7802 - 55-DMA

*COMMENTARY: The sharp reversal lower from the day's highs sees the pair

flirting with the daily bull channel base ($0.7906) and looking a little heavy.

The $0.7863 support remains key today with bears needing a close below to

confirm a break of the channel base and shift immediate focus to $0.7780-0.7807

where the 55-DMA is situated. Layers of resistance have followed the pair lower

with bulls needing a close above $0.7950 to shift focus back to $0.7996-0.8065.

KIWI TECHS: Focus Remains On 100 & 200-DMAs

*RES 4: $0.7284 - Hourly resistance Aug 29 

*RES 3: $0.7263 - Alternating hourly support/resistance 

*RES 2: $0.7230 - Hourly resistance Aug 30a 

*RES 1: $0.7211 - Hourly resistance Aug 30

*PRICE: $0.7193 @ 2100GMT

*SUP 1: $0.7189 - Low Aug 30 

*SUP 2: $0.7178 - 100-DMA 

*SUP 3: $0.7149 - High June 5 now support

*SUP 4: $0.7128 - 200-DMA

*COMMENTARY: The bounce Tuesday remained capped ahead of 21 & 55-DMAs and the

key $0.7337 resistance. Losses defined Wednesday with immediate pressure back on

$0.7128-78 where 100 & 200-DMAs are situated. Bears look for a close below the

200-DMA to shift overall focus back to tests of May lows ($0.6814). The

Bollinger base ($0.7167) is the key concern for bears. Bulls now need a close

above $0.7230 to gain breathing room.

AUSSIE-KIWI TECHS: Topside Follow Through Lacking

*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$1.1017 - High Aug 30

*PRICE: NZ$1.0974 @ 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. Bears still need a

close below NZ$1.0913 to ease bullish pressure and below NZ$1.0880 to shift

focus back to NZ$1.0794. O/B daily studies remain a concern for bulls.

AUSSIE-YEN TECHS: Above Y88.02 To Shift Focus Higher

*RES 4: Y88.02 - High Aug 7, Bollinger band top 

*RES 3: Y87.81 - High Aug 30 

*RES 2: Y87.58 - Hourly resistance Aug 30a 

*RES 1: Y87.25 - Hourly resistance Aug 30

*PRICE: Y87.18 @ 2100GMT

*SUP 1: Y86.92 - Low Aug 30

*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: The recovery from Tuesday's low saw the pair break above Y87.57 but

follow through has been lacking with the pair capped ahead of the key Y88.02

resistance. Bulls need a close above Y88.02 to end bearish hopes and shift focus

to Y88.81-89.42 where 2017 highs are noted. Support layers remain with bears now

looking for a close below Y86.67 to return focus to Y85.09-68 where 100 &

200-DMAs are noted.

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$1.5040 @ 2100GMT

*SUP 1: A$1.4974 - Low Aug 30 

*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: Topside follow through has been lacking this week with the pair

looking a little heavy following Wednesday's losses. Initial resistance remains

at A$1.5119 with bulls needing a close above to retain focus on A$1.5223-1.5364

where 2017 highs are located. The Bollinger top (A$1.5074) is the key concern

for bulls and currently limits follow through. Bears look for a close below

A$1.4880 to shift focus to A$1.4732.

US DOLLAR-INDEX TECHS: Bulls Need Close Above 93.117

*RES 4: 93.791 - Hourly resistance Aug 17 

*RES 3: 93.628 - High Aug 23 

*RES 2: 93.451 - Hourly resistance Aug 23 

*RES 1: 93.117 - Hourly support Aug 25 now resistance

*PRICE: 92.933 @ 2130GMT

*SUP 1: 92.579 - Alternating hourly support/resistance

*SUP 2: 92.251 - Low Aug 30

*SUP 3: 91.621 - 2017 Low Aug 29

*SUP 4: 91.514 - Low Jan 15 2015

*COMMENTARY: Fresh 2017 and 2+ year lows for the index lacked follow through

with the Bollinger base (92.341) remaining an issue and leaving the move looking

a little overdone at Tuesday's lows. The recovery Wednesday sees pressure back

on the 93.117 resistance. Bulls need a close above 93.117 to shift focus back to

93.451-94.145. As layers of support build bears now need a close below 92.579 to

retain focus on 2017 lows.

EURO-DOLLAR TECHS: Focus Back On $1.1828-61

*RES 4: $1.2070 High Aug 29 

*RES 3: $1.2009 Hourly support Aug30a now resistance 

*RES 2: $1.1984 High Aug 30 

*RES 1: $1.1939 Hourly support Aug 30 now resistance

*PRICE: $1.1890 @ 2030GMT

*SUP 1: $1.1861 Alternating hourly support/resistance 

*SUP 2: $1.1828 High Aug 21 now resistance 

*SUP 3: $1.1813 21-DMA 

*SUP 4: $1.1730 Low Aug 21

*COMMENTARY: The lack of follow through on Tuesday's high has been followed up

with losses that leave the pair looking heavy and focus back on the $1.1828-61

support region. Bears now look for a close below $1.1828 to shift focus back to

$1.1648-1.1709 where the daily bull channel base ($1.1688) is located. The

$1.1984 resistance is now key with bulls needing a close above to return focus

to tests of the bull channel top ($1.2142).

DOLLAR-YEN TECHS: Bears Need Close Below Y109.83

*RES 4: Y111.33 High July 28 

*RES 3: Y111.19 55-DMA 

*RES 2: Y111.05 High Aug 4 

*RES 1: Y110.44 High Aug 30

*PRICE: Y110.26 @ 2030GMT

*SUP 1: Y109.83 Hourly support Aug 30 

*SUP 2: Y109.41 Hourly resistance Aug 28 now support 

*SUP 3: Y108.96 Hourly resistance Aug 29 now support 

*SUP 4: Y108.27 Low Aug 29

*COMMENTARY: The Y108.10 support confirmed significance with the pair bouncing

aggressively Tuesday. The recovery continued with the pair now hinting at a move

back to Y111.05-33 where 55 & 100-DMAs are located. Bulls continue to look for a

close above Y111.33 to end bearish hopes and initially target Y112.19-51 where

the 200-DMA is noted. Bears now need a close below Y109.83 to signal a false

break of Y110.37 and below Y109.41 to shift focus back to Y107.47-108.10.

SPOT GOLD TECHS: $1295.5 Support Remains Key

*RES 4: $1343.6 - High Sept 22 

*RES 3: $1337.4 - Monthly High Nov 9 

*RES 2: $1326.1 - 2017 high Aug 29 

*RES 1: $1313.7 - High Aug 30

*PRICE: $1308.1 @ 2130GMT

*SUP 1: $1303.5 - Hourly support Aug 28 

*SUP 2: $1299.5 - Hourly resistance Aug 28 now support a 

*SUP 3: $1295.5 - Hourly support Aug 28a 

*SUP 4: $1287.9 - Hourly support Aug 25

*COMMENTARY: The lack of follow through on fresh 2017 and 10mth highs is a

concern for bulls with the Bollinger top ($1312.80) remaining an issue. The

$1295.5 support remains key with bears needing a close below to shift focus back

to $1275.3-1282.9 where the 21-DMA is situated. While $1295.5 supports bulls

remain focused on $1337.4-1352.6 where Sept highs are noted. O/B daily studies

are now a concern for bulls.

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

[TOPICS: MTABLE]