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MNI Asian Morning FX Technical Analysis

7 September 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: Bollinger Band Top Limiting Follow Through
*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: $0.7998 @ 2100GMT
*SUP 1: $0.7961 - Low Sept 6 
*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 ($0.8005) 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: $0.7298 - High Aug 29 
*RES 3: $0.7264 - High Sept 5 
*RES 2: $0.7237 - Hourly resistance Sept 6a 
*RES 1: $0.7205 - Hourly resistance Sept 6
*PRICE: $0.7199 @ 2100GMT
*SUP 1: $0.7187 - 100-DMA 
*SUP 2: $0.7131 - 200-DMA
*SUP 3: $0.7035 - Low May 30
*SUP 4: $0.6987 - Low May 24
*COMMENTARY: Hesitation around the 21-DMA ($0.7250) continues with the sell-off
likely to result in a bearish close with focus having returned to the 200-DMA
support. Bears need a close below the 200-DMA to shift immediate focus to
$0.6950 and overall focus to tests of 2017 lows ($0.6814). Layers of resistance
remain $0.7263-0.7337 with bulls needing a close above $0.7337 to confirm a
break of the 55-DMA ($0.7314) and to shift overall focus to 2017 highs.
AUSSIE-KIWI TECHS: Bears Need Close Below NZ$1.1007
*RES 4: NZ$1.1275 - Daily Bull channel top
*RES 3: NZ$1.1195 - Low Apr 26 now resistance
*RES 2: NZ$1.1155 - Bollinger band top
*RES 1: NZ$1.1142 - 2017High Sept 1
*PRICE: NZ$1.1110 @ 2100GMT
*SUP 1: NZ$1.1062 - Hourly support Sept 6
*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: The NZ$1.1007 support remains key today with bears needing a close
below to confirm an easing of bullish pressure and return initial focus to
NZ$1.0913. Bulls take comfort in support continuing to emerge on dips back to
NZ$1.1007 with Wednesday's bounce and relatively bullish close retaining focus
on recent 2017 highs and the NZ$1.1142-1.1275 region as a whole where the daily
bull channel top is situated.
AUSSIE-YEN TECHS: Finding Support Below 21-DMA
*RES 4: Y88.81 - High July 28 
*RES 3: Y88.02 - High Aug 7 
*RES 2: Y87.76 - Bollinger band top 
*RES 1: Y87.63 - Hourly support Sept 1 now resistance
*PRICE: Y87.40 @ 2100GMT
*SUP 1: Y87.19 - Hourly resistance Sept 6 now support
*SUP 2: Y86.54 - Low Sept 6
*SUP 3: Y86.12 - Hourly support Aug 29b
*SUP 4: Y85.68 - Low Aug 28
*COMMENTARY: Bears take comfort in support continuing to emerge on dips below
the 21-DMA (Y86.77). Bears now look for a close below Wednesday's low to confirm
a break of the 21-DMA and focus on the Y85.35-70 region where 100 & 200-DMAs are
situated. The Bollinger top remains the key concern for bulls with potential to
limit follow through. 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$1.4905 @ 2100GMT
*SUP 1: A$1.4832 - 100-DMA 
*SUP 2: A$1.4830 - Low Sept 6 
*SUP 3: A$1.4792 - Low Aug 18 
*SUP 4: A$1.4731 - Low Aug 17
*COMMENTARY: Topside follow through is lacking again this week with the pair
remaining a little heavy and pressuring 55 ( A$1.4858) & 100 (A$1.4832) DMAs.
Bears continue to look for a close below A$1.4792 to confirm breaks of DMAs and
shift focus back to A$1.4422-80 where the 200-DMA and July lows are noted. Bulls
now need a close above A$1.4992 to gain breathing room and above A$1.5093 to
return focus to A$1.5175-1.5226.
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: 92.250 @ 2130GMT
*SUP 1: 92.100 - Alternating hourly support/resistance
*SUP 2: 91.988 - Low Sept 6
*SUP 3: 91.621 - 2017 Low Aug 29
*SUP 4: 91.514 - Low Jan 15 2015
*COMMENTARY: The rejection above the 21-DMA (93.031) Thursday has left the index
looking heavy with bears retaining focus on 91.514-621. A close below 91.514 is
still 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 (92.041) remains the key concern for bears and continues to
support/limit follow through.
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: $1.1950 High Sept 6
*PRICE: $1.1913 @ 2030GMT
*SUP 1: $1.1868 Low Sept 5 
*SUP 2: $1.1834 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
$1.1648-1.1743 where the channel base is noted. Bulls look for a close above
$1.1984 to reconfirm focus on the bull channel top ($1.2197).
DOLLAR-YEN TECHS: Y109.93 Resistance Key Today
*RES 4: Y110.67 High Aug 31 
*RES 3: Y110.48 High Sept 1 
*RES 2: Y109.93 High Sept 4 
*RES 1: Y109.55 Hourly resistance Sept
*PRICE: Y109.32 @ 2030GMT
*SUP 1: Y108.71 Hourly support Sept 6 
*SUP 2: Y108.46 Low Sept 6 
*SUP 3: Y108.27 Low Aug 29 
*SUP 4: Y108.10 2017 Low Apr 17
*COMMENTARY: Despite looking a little heavy yesterday support has again emerged
on a dip back towards the key Y107.47-108.10 supports. Bears continue to look
for a close below Y107.47 to shift immediate focus to Y106.95 and overall focus
to Y99.08-101.15. The Y109.93 resistance remains key. Bulls continue to look for
a close above Y109.93 to ease bearish pressure and shift focus back to
Y110.67-111.33 where 55 (Y111.04) & 100 (Y111.19) DMAs are located.
SPOT GOLD TECHS: Inside Day
*RES 4: $1353.8 - Daily Bull channel top 
*RES 3: $1352.6 - Monthly High Sept 7 2016 
*RES 2: $1344.4 - 2017 High Sept 5 
*RES 1: $1335.8 - Hourly resistance Sept 6
*PRICE: $1333.6 @ 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: $1299.4 - 21-DMA
*COMMENTARY: A gapping move higher to start the new week saw fresh 2017 and
12mth highs with immediate bullish focus on $1352.6-1375.2 where 2016 highs are
located. The Bollinger top ($1339.3) and O/B studies looking to correct remain
concerns for bulls. Bears need a close below $1326.0 to gain breathing room and
below $1313.7 to shift initial focus back to $1294.6-1299.4 where the 21-DMA is
noted.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

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