MNI Asian Morning FX Technical Analysis

5 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: $0.7973 - High Sept 4

*PRICE: $0.7963 @ 2130GMT

*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: $0.7821 - 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 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: Bears Need Close Below 200-DMA

*RES 4: $0.7263 - Alternating hourly support/resistance, 21-DMA 

*RES 3: $0.7230 - Hourly resistance Aug 30a 

*RES 2: $0.7211 - Hourly resistance Aug 30 

*RES 1: $0.7183 - 100-DMA

*PRICE: $0.7166 @ 2100GMT

*SUP 1: $0.7132 - Low Aug 31 

*SUP 2: $0.7130 - 200-DMA

*SUP 3: $0.7042 - Daily Bear channel base

*SUP 4: $0.7035 - Low May 30

*COMMENTARY: Topside failures ahead of 21 ($.7263) & 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 $0.7035-42 and overall

focus to 2017 lows. Bulls need a close above $0.7211 to gain breathing room and

shift focus back to the key $0.7263-0.7337 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$1.1251 - Daily Bull channel top

*RES 2: NZ$1.1195 - Low Apr 26 now resistance

*RES 1: NZ$1.1142 - 2017High Sept 1

*PRICE: NZ$1.1083 @ 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: Y88.02 - High Aug 7 

*RES 3: Y87.82 - Bollinger band top 

*RES 2: Y87.63 - Hourly support Sept 1 now resistance 

*RES 1: Y87.30 - Hourly resistance Sept 4

*PRICE: Y87.10 @ 2100GMT

*SUP 1: Y86.91 - 55-DMA

*SUP 2: Y86.79 - 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. 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 Y85.24-56 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$1.5175 - High Aug 29

*RES 3: A$1.5093 - High Aug 30

*RES 2: A$1.5043 - High Sept 1

*RES 1: A$1.4992 - High Sept 4

*PRICE: A$1.4980 @ 2100GMT

*SUP 1: A$1.4897 - Low Sept 4 

*SUP 2: A$1.4852 - 55-DMA 

*SUP 3: A$1.4819 - 100-DMA 

*SUP 4: A$1.4792 - Low Aug 18

*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: 92.602 @ 2130GMT

*SUP 1: 92.445 - Low Sept 4

*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 appears to be in

trouble with a rejection above the 21-DMA (93.152) 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 (94.417) 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 Aug 30a now resistance 

*RES 2: $1.1984 High Aug 30 

*RES 1: $1.1922 High Sept 4

*PRICE: $1.1897 @ 2030GMT

*SUP 1: $1.1823 Low Sept 1 

*SUP 2: $1.1821 21-DMA 

*SUP 3: $1.1730 Low Aug 21 

*SUP 4: $1.1721 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

$1.1648-1.1721 where the channel base is noted. Bulls still need a close above

$1.1984 to reconfirm focus on the bull channel top ($1.2175).

DOLLAR-YEN TECHS: Y110.67-111.33 Resistance Key This Week

*RES 4: Y110.75 Bollinger band top 

*RES 3: Y110.67 High Aug 31 

*RES 2: Y110.48 High Sept 1 

*RES 1: Y109.93 High Sept 4

*PRICE: Y109.65 @ 0430GMT

*SUP 1: Y109.39 Low 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

Y112.18-47 where the 200-DMA is situated. Bears look for a close below Y107.47

to shift immediate focus to Y106.95.

SPOT GOLD TECHS: Bulls Targeting 2016 High

*RES 4: $1353.3 - Daily Bull channel top 

*RES 3: $1352.6 - Monthly High Sept 7 2016 

*RES 2: $1343.6 - High Sept 22 2016 

*RES 1: $1339.8 - 2017 High Sept 4

*PRICE: $1334.3 @ 2130GMT

*SUP 1: $1328.8 - High Sept 4 

*SUP 2: $1313.7 - High Aug 30 now support 

*SUP 3: $1304.9 - Hourly support Aug 31 

*SUP 4: $1298.4 - Low Aug 31

*COMMENTARY: A gapping move higher to start the new week has resulted in fresh

2017 and 12mth highs with immediate bullish focus now on $1343.6-1375.2 where

2016 highs are located. The Bollinger top ($1330.5) is the key concern for

bulls. Bears now need a close below $1328.8 to gain breathing room and below

$1313.7 to shift initial focus back to $1291.8-1295.5 where the 21-DMA is noted.

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

[TOPICS: MTABLE]