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]