MNI Asian Morning FX Technical Analysis

6 September 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Below $0.7920 To Pressure $0.7863

*RES 4: $0.8163 - 2015 High May 14

*RES 3: $0.8065 - 2017 High July 27

*RES 2: $0.8044 - High Aug 1

*RES 1: $0.8028 - High Sept 5

*PRICE: $0.7995 @ 2100GMT

*SUP 1: $0.7974 - Hourly support Sept 5 

*SUP 2: $0.7937 - Hourly support Sept 1 

*SUP 3: $0.7920 - Hourly support Aug 31 

*SUP 4: $0.7863 - Low Aug 24

*COMMENTARY: The $0.7863 support confirmed significance Thursday. Bulls take

comfort in the break of $0.7996 with focus now on $0.8044-65. Bulls need a close

above $0.8065 to shift initial focus to tests of $0.8163-0.8295 where 2015 highs

are situated. The Bollinger top ($0.7995) is the key concern for bulls and

limits follow through. Bears continue to look for a close below $0.7920 to see

pressure back on the $0.7863 support.

KIWI TECHS: Hesitating Around 21-DMA

*RES 4: $0.7337 - High Aug 21 

*RES 3: $0.7315 - 55-DMA 

*RES 2: $0.7298 - High Aug 29 

*RES 1: $0.7264 - High Sept 5

*PRICE: $0.7239 @ 2100GMT

*SUP 1: $0.7211 - Hourly resistance Aug 30 now support 

*SUP 2: $0.7194 - Hourly resistance Sept 5 now support

*SUP 3: $0.7131 - 200-DMA

*SUP 4: $0.7035 - Low May 30

*COMMENTARY: Despite pressure returning to the 200-DMA bears failed to produce

the close below needed to end bullish hopes and shift overall focus to tests of

2017 lows. The recovery is currently hesitating around the 21-DMA ($0.7257) with

the $0.7298-0.7337 resistance region key. Bulls now need a close above $0.7337

to confirm a break of the 55-DMA and to shift overall focus to tests of 2017

highs.

AUSSIE-KIWI TECHS: Bears Need Close Below NZ$1.1007

*RES 4: NZ$1.1263 - Daily Bull channel top

*RES 3: NZ$1.1195 - Low Apr 26 now resistance

*RES 2: NZ$1.1142 - 2017High Sept 1

*RES 1: NZ$1.1073 - Hourly support Sept 5 now resistance

*PRICE: NZ$1.1050 @ 2100GMT

*SUP 1: NZ$1.1007 - Hourly support Aug 31a

*SUP 2: NZ$1.0982 - Hourly resistance Aug 31 now support

*SUP 3: NZ$1.0955 - Hourly support Aug 30

*SUP 4: NZ$1.0913 - Hourly resistance Aug 23 now support

*COMMENTARY: O/B daily studies looking to correct and the Bollinger top

(NZ$1.1127) limiting follow through have taken their toll with a correction that

sees focus back on the NZ$1.1007. Bears need a close below this level to confirm

an easing of bullish pressure and return initial focus to NZ$1.0913. Resistance

layers are starting to build with bulls now needing a close above NZ$1.1073 to

retain pressure on NZ$1.1195-1.1272 where the bull channel top is noted.

AUSSIE-YEN TECHS: Finding Support Below 21-DMA

*RES 4: Y88.81 - High July 28 

*RES 3: Y88.02 - High Aug 7 

*RES 2: Y87.82 - Bollinger band top 

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

*PRICE: Y86.96 @ 2100GMT

*SUP 1: Y86.77 - 21-DMA

*SUP 2: Y86.67 - Hourly support Aug 29a

*SUP 3: Y86.12 - Hourly support Aug 29b

*SUP 4: Y85.68 - Low Aug 28

*COMMENTARY: The failure ahead of the key Y88.02 resistance has seen pressure

return to the Y86.67 support with the pair dipping below 21 (Y86.77) & 55

(Y86.96) DMAs Tuesday. The Y86.67 support is key today with bears needing a

close below to confirm an easing of bullish pressure & shift focus 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$1.4895 @ 2100GMT

*SUP 1: A$1.4833 - Low Sept 5 

*SUP 2: A$1.4826 - 100-DMA 

*SUP 3: A$1.4792 - Low Aug 18 

*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 needing a close above A$1.5093 to regain the upper hand and return focus

to A$1.5175-1.5226. Pressure has returned to the 100-DMA with bears still

looking for a close below A$1.4792 to shift focus back to A$1.4422-78 where the

200-DMA and July lows are noted.

US DOLLAR-INDEX TECHS: 92.936-93.347 Resistance Key

*RES 4: 93.347 - High Aug 31 

*RES 3: 92.936 - Hourly resistance Aug 31 

*RES 2: 92.711 - High Sept 4 

*RES 1: 92.445 - Low Sept 4 now resistance

*PRICE: 92.300 @ 2130GMT

*SUP 1: 92.100 - Low Sept 1

*SUP 2: 91.621 - 2017 Low Aug 29

*SUP 3: 91.514 - Low Jan 15 2015 

*SUP 4: 91.117 - Low Jan 6 2015

*COMMENTARY: The rejection above the 21-DMA (93.100) Thursday has left the index

looking heavy with immediate pressure back on the 92.100 support. Overall bears

are focused on 91.514-621 with a close below needed to target 89.776-90.325.

Layers of resistance are accumulating and weighing with bulls needing a close

above 92.936 to return pressure to 93.347. The Bollinger base (92.137) is the

key concern for bears.

EURO-DOLLAR TECHS: $1.1823 & $1.1984 Levels Remain Key

*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: $1.1940 High Sept 5

*PRICE: $1.1917 @ 2030GMT

*SUP 1: $1.1868 Low Sept 5 

*SUP 2: $1.1827 21-DMA 

*SUP 3: $1.1823 Low Sept 1 

*SUP 4: $1.1730 Low Aug 21

*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 $1.1823 to confirm an easing of bullish pressure and shift focus to

$1.1648-1.1732 where the channel base is noted. Bulls look for a close above

$1.1984 to reconfirm focus on the bull channel top ($1.2186).

DOLLAR-YEN TECHS: Pressure Returns To Key Supports

*RES 4: Y110.48 High Sept 1 

*RES 3: Y109.93 High Sept 4 

*RES 2: Y109.55 Hourly resistance Sept 5a 

*RES 1: Y109.13 Hourly resistance Sept 5

*PRICE: Y108.81 @ 2030GMT

*SUP 1: Y108.61 Bollinger band base 

*SUP 2: Y108.27 Low Aug 29 

*SUP 3: Y108.10 2017 Low Apr 17 

*SUP 4: Y107.47 Monthly High July 21 now support

*COMMENTARY: Bearish confidence grows as pressure returns to the key

Y107.47-108.10 support following last week's topside failure ahead of 55 &

100-DMAs. Layers of resistance are weighing with bulls needing a close above

Y109.93 to ease bearish pressure. The Y110.67-111.33 resistance remains key this

week with bulls needing a close above Y111.33 to shift focus to Y112.18-45 where

the 200-DMA is noted. Below Y107.47 shifts overall focus to Y99.08-101.15.

SPOT GOLD TECHS: Bulls Targeting 2016 High

*RES 4: $1375.2 - 2016 High July 6 

*RES 3: $1353.3 - Daily Bull channel top 

*RES 2: $1352.6 - Monthly High Sept 7 2016 

*RES 1: $1344.4 - 2017 High Sept 5

*PRICE: $1339.4 @ 2130GMT

*SUP 1: $1326.0 - Low Sept 5 

*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 sees fresh 2017 and

12mth highs continuing with immediate bullish focus now on $1352.6-1375.2 where

2016 highs are located. The Bollinger top ($1336.7) is the key concern for

bulls. Bears need a close below $1326.0 to gain breathing room and below $1313.7

to shift initial focus back to $1294.6-1295.8 where the 21-DMA is noted.

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

[TOPICS: MTABLE]