Free Trial
EUROZONE T-BILL ISSUANCE

W/C July 25, 2022

NATURAL GAS

Germany Opposed to Nord Stream 2 Use

US TSY FUTURES

BLOCK, 10Y Buy

OPTIONS

Larger FX Option Pipeline

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI Asian Morning FX Technical Analysis

4 September 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: $0.7917 & 0.7996 Levels Key
*RES 4: $0.8065 - 2017 High July 27
*RES 3: $0.8044 - High Aug 1
*RES 2: $0.7996 - High Aug 30
*RES 1: $0.7982 - Bollinger band top
*PRICE: $0.7944 @ 2100GMT
*SUP 1: $0.7937 - Hourly support Sept 1 
*SUP 2: $0.7917 - Hourly support Aug 31 
*SUP 3: $0.7863 - Low Aug 24 
*SUP 4: $0.7822 - 55-DMA
*COMMENTARY: The $0.7863 support confirmed significance Thursday with the pair
having looked heavy before bouncing aggressively. Hesitation ahead of $0.7996 is
now less than ideal for bulls with the Bollinger top currently limiting follow
through. Bulls need a close above $0.7996 to reconfirm focus on $0.8044-65 and
above $0.8065 to reconfirm the bullish bias and target 2015 highs ($0.8165).
Bears still need a close below $0.7917 to return pressure to $0.7863.
KIWI TECHS: Pressure Remains On 200-DMA
*RES 4: $0.7263 - Alternating hourly support/resistance 
*RES 3: $0.7230 - Hourly resistance Aug 30a 
*RES 2: $0.7211 - Hourly resistance Aug 30 
*RES 1: $0.7183 - 100-DMA
*PRICE: $0.7146 @ 2100GMT
*SUP 1: $0.7132 - Low Aug 31 
*SUP 2: $0.7130 - 200-DMA
*SUP 3: $0.7054 - Daily Bear channel base
*SUP 4: $0.7035 - Low May 30
*COMMENTARY: Topside failures ahead of 21 ($.7262) & 55 ($0.7315) DMAs resulted
in a sell-off last week that sees immediate pressure on the 200-DMA. Bears look
for a close below the 200-DMA to shift immediate focus to $0.7035-54 and overall
focus to 2017 lows. Bulls need a close above $0.7211 to gain breathing room and
shift focus back to the key $0.7288-0.7337 resistance region. Above $0.7337
remains needed to end bearish hopes and shift overall focus back to 2017 highs.
AUSSIE-KIWI TECHS: Bulls Focused On NZ$1.1195-1.1272
*RES 4: NZ$1.1272 - Monthly High Apr 25
*RES 3: NZ$1.1239 - Daily Bull channel top
*RES 2: NZ$1.1195 - Low Apr 26 now resistance
*RES 1: NZ$1.1141 - 2017High Sept 1
*PRICE: NZ$1.1071 @ 2100GMT
*SUP 1: NZ$1.1049 - Hourly support Aug 31
*SUP 2: NZ$1.1007 - Hourly support Aug 31a
*SUP 3: NZ$1.0982 - Hourly resistance Aug 31 now support
*SUP 4: NZ$1.0955 - Hourly support Aug 30
*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. Thursday's gains and bullish close see immediate
focus now on NZ$1.1195-1.1272 where the bull channel to is located. Initial
support is noted at NZ$1.1049 but bears need a close below NZ$1.1007 to ease
bullish pressure and return initial focus to NZ$1.0913.
AUSSIE-YEN TECHS: Pressure Back on 21 & 55-DMAs
*RES 4: Y88.81 - High July 28 
*RES 3: Y88.02 - High Aug 7 
*RES 2: Y87.92 - Bollinger band top 
*RES 1: Y87.63 - Hourly support Sept 1 now resistance
*PRICE: Y87.10 @ 2100GMT
*SUP 1: Y86.87 - 55-DMA
*SUP 2: Y86.83 - 21-DMA
*SUP 3: Y86.67 - Hourly support Aug 29a
*SUP 4: Y86.12 - Hourly support Aug 29b
*COMMENTARY: The recovery from last week's low has stalled ahead of the key
Y88.02 resistance with pressure back on 21 & 55-DMAs to start the new week. The
Y86.67 support is key today with bears needing a close below to confirm an
easing of bullish pressure and see focus back to Y85.19-56 where 100 & 200-DMAs
are situated. Bulls still need a close above Y88.02 to end bearish hopes and
shift focus to Y88.81-89.42 where 2017 highs are noted.
EURO-AUSSIE TECHS: Bears Need Close Below A$1.4792 
*RES 4: A$1.5226 - 2017 High June 1
*RES 3: A$1.5175 - High Aug 29
*RES 2: A$1.5093 - High Aug 30
*RES 1: A$1.5043 - High Sept 1
*PRICE: A$1.4954 @ 2100GMT
*SUP 1: A$1.4903 - Hourly resistance Sept 1 now support 
*SUP 2: A$1.4852 - 55-DMA 
*SUP 3: A$1.4819 - 100-DMA 
*SUP 4: A$1.4731 - Low Aug 17
*COMMENTARY: Topside follow through was lacking last week with the pair looking
a little heavy following losses. Layers of resistance are accumulating with
bulls now needing a close above A$1.5093 to regain the upper hand and return
focus to A$1.5175-1.5226. The Bollinger top (A$1.5076) remains the key concern
for bulls and continues to limit follow through. Bears now look for a close
below A$1.4792 to shift focus back to A$1.4422-74 where the 200-DMA is noted.
US DOLLAR-INDEX TECHS: Bulls Need Close Above 93.347
*RES 4: 93.628 - High Aug 23 
*RES 3: 93.451 - Hourly resistance Aug 23 
*RES 2: 93.347 - High Aug 31 
*RES 1: 92.936 - Hourly resistance Aug 31
*PRICE: 92.634 @ 2130GMT
*SUP 1: 92.452 - Hourly support Sept 1
*SUP 2: 92.100 - Low Sept 1
*SUP 3: 91.621 - 2017 Low Aug 29
*SUP 4: 91.514 - Low Jan 15 2015
*COMMENTARY: The recovery from recent 2017 and 2+ year lows looks to be in
trouble with a rejection above the 21-DMA (93.183) Thursday. Bulls continue to
look for a close above 93.347 to ease bearish pressure and shift focus back to
93.628-94.476 where the 55-DMA (94.418) is noted. While 93.347 caps bears remain
focused on 91.514 with a close below needed to target 89.776-90.325.
EURO-DOLLAR TECHS: Bears Need Close Below 21-DMA
*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: $1.1894 Hourly resistance Sept 1
*PRICE: $1.1877 @ 2030GMT
*SUP 1: $1.1823 Low Sept 1 
*SUP 2: $1.1820 21-DMA 
*SUP 3: $1.1730 Low Aug 21 
*SUP 4: $1.1710 Daily Bull channel base
*COMMENTARY: Having lacked follow through on fresh 2017 and 2+ year highs last
week the pair saw pressure return to the 21-DMA with the rejection ahead of
$1.1984 Friday a concern for bulls. In saying that, bears still need a close
below the 21-DMA to confirm an easing of bullish pressure and shift focus to
$1.1648-1.1710 where the channel base is noted. Bulls still need a close above
$1.1984 to reconfirm focus on the bull channel top ($1.2164).
DOLLAR-YEN TECHS: Y110.67-111.33 Resistance Key This Week
*RES 4: Y111.05 High Aug 4 
*RES 3: Y110.84 Bollinger band top 
*RES 2: Y110.67 High Aug 31 
*RES 1: Y110.48 High Sept 1
*PRICE: Y109.46 @ 2030GMT
*SUP 1: Y109.29 Hourly support Sept 4 
*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: A volatile week saw the pair capped ahead of the Y111.05-33 region
where 55 & 100-DMAs are situated which retained bearish focus on tests of the
key Y107.47-108.10 region. The Y110.67-111.33 resistance region is seen as key
this week. Bulls need a close above Y111.33 to end bearish hopes and target
Y112.18-46 where the 200-DMA is situated. Bears look for a close below Y107.47
to shift immediate focus to Y106.95.
SPOT GOLD TECHS: Pressure On $1337.4-1352.6
*RES 4: $1352.6 - Monthly High Sept 7 
*RES 3: $1343.6 - High Sept 22 
*RES 2: $1337.4 - Monthly High Nov 9 
*RES 1: $1328.8 - 2017 high Sept 1
*PRICE: $1324.6 @ 2130GMT
*SUP 1: $1313.7 - High Aug 30 now support 
*SUP 2: $1304.9 - Hourly support Aug 31 
*SUP 3: $1298.4 - Low Aug 31 
*SUP 4: $1295.5 - Hourly support Aug 28a
*COMMENTARY: The $1295.5 support confirmed significance with gold bouncing
aggressively form a dip back towards this level Thursday. The recovery from
Thursday lows sees immediate pressure back on the $1337.4-1352.6 region where
2017 & monthly highs and the daily bull channel top are situated. The Bollinger
top ($1324.5) is the key concern for bulls. Bears now need a close below $1213.7
to ease bullish pressure.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.