MNI Asian Morning FX Technical Analysis

8 September 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bulls Need Close Above $0.8065

*RES 4: $0.8329 - Daily Bull channel top

*RES 3: $0.8295 - 2015 High Jan 15

*RES 2: $0.8163 - Monthly High May 14 2015

*RES 1: $0.8065 - 2017 High July 27

*PRICE: $0.8046 @ 2100GMT

*SUP 1: $0.8009 - Hourly support Sept 7 

*SUP 2: $0.7961 - Low Sept 6 

*SUP 3: $0.7958 - Daily Bull channel base 

*SUP 4: $0.7937 - Hourly support Sept 1

*COMMENTARY: Fresh 2mth highs that see immediate focus on the 2017 highs. Bulls

look for a close above $0.8065 to reconfirm the bullish bias and initially

target $0.8163 with overall focus shifting to $0.8295-0.8329. The Bollinger top

($0.8027) is the key concern for bulls. Initial support is noted at $0.8009 with

bears needing a close below to ease pressure on 2017 highs. Below $0.7920 is

needed to hint at a deeper correction targeting the 55-DMA ($0.7846).

KIWI TECHS: $0.7264-0.7337 Resistance Region Remains Key

*RES 4: $0.7337 - High Aug 21 

*RES 3: $0.7314 - 55-DMA 

*RES 2: $0.7298 - High Aug 29 

*RES 1: $0.7264 - High Sept 5

*PRICE: $0.7225 @ 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 ($0.7245) continues although bulls

take comfort in the recovery from the day's lows. 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 $0.7264-0.7337 with bulls needing a

close above $0.7337 to confirm a break of the 55-DMA and to shift overall focus

to 2017 highs.

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

*RES 4: NZ$1.1287 - Daily Bull channel top

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

*RES 2: NZ$1.1175 - Bollinger band top

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

*PRICE: NZ$1.1125 @ 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 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$1.1142-1.1287 region as a whole where the daily bull

channel top is situated.

AUSSIE-YEN TECHS: Y86.54 Support Remains Key

*RES 4: Y88.81 - High July 28 

*RES 3: Y88.02 - High Aug 7 

*RES 2: Y87.80 - Bollinger band top 

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

*PRICE: Y87.34 @ 2100GMT

*SUP 1: Y86.87 - Low Sept

*SUP 2: Y86.54 - Low Sept 6

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

*SUP 4: Y85.68 - Low Aug 28

*COMMENTARY: Bears took comfort in support continuing to emerge on dips below

the 21-DMA (Y86.77). Bears 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$1.4997 - High Sept 7

*PRICE: A$1.4939 @ 2100GMT

*SUP 1: A$1.4839 - 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 although bulls

take comfort in support emerging on dips back towards the 55 (A$1.4860) & 100

(A$1.4839) DMAs. Bears continue to look for a close below A$1.4792 to confirm

breaks of DMAs and shift focus back to A$1.4422-83 where the 200-DMA and July

lows are noted. Bulls now need a close above A$1.4997 to gain breathing room and

above A$1.5093 to return focus to A$1.5175-1.5226.

US DOLLAR-INDEX TECHS: DOLLAR-INDEX TECHS: Focus On 89.776-90.325

*RES 4: 92.711 - High Sept 4 

*RES 3: 92.445 - Low Sept 4 now resistance 

*RES 2: 92.100 - Alternating hourly support/resistance 

*RES 1: 91.770 - Hourly resistance Sept 7

*PRICE: 91.512 @ 2130GMT

*SUP 1: 91.405 - 2017 Low Sept 7

*SUP 2: 91.117 - Low Jan 6 2015

*SUP 3: 90.325 - High Dec 30 2014 now support

*SUP 4: 89.776 - Low Dec 26 2014

*COMMENTARY: The rejection above the 21-DMA (92.937) has now resulted in fresh

2017 and 2+ year lows with overall focus having shifted to 89.776-90.325. The

Bollinger base (91.777) is the key concern for bears with potential to limit

follow through. Layers of resistance continue to build and weigh with bulls now

needing a close above 92.100 to ease immediate bearish pressure and hint at a

correction back to 92.711 93.347 where the 21-DMA is noted.

EURO-DOLLAR TECHS: Bulls Need Close Above $1.2070

*RES 4: $1.2254 High Dec 25 2014 

*RES 3: $1.2208 Daily Bull channel top 

*RES 2: $1.2187 High Dec 30 2014 

*RES 1: $1.2070 2017 High Aug 29

*PRICE: $1.2027 @ 2030GMT

*SUP 1: $1.1984 Hourly support Sept 7 

*SUP 2: $1.1903 Hourly support Sept 6 

*SUP 3: $1.1868 Low Sept 5 

*SUP 4: $1.1847 21-DMA

*COMMENTARY: Dips back towards the 21-DMA have continued to find support

resulting in pressure having returned to 2017 highs. Bulls need a close above

$1.2070 to reconfirm the bullish bias and initially target $1.2187-1.2208 where

the daily bull channel top is located. The Bollinger top ($1.2016) is the key

concern for bulls. Bears need a close below $1.1984 to ease immediate bullish

pressure and hint at a correction back to $1.1823-47.

DOLLAR-YEN TECHS: Y107.47 Support Remains Key

*RES 4: Y110.48 High Sept 1 

*RES 3: Y109.93 High Sept 4 

*RES 2: Y109.55 Hourly resistance Sept 6 

*RES 1: Y108.97 Hourly resistance Sept 7

*PRICE: Y108.47 @ 2030GMT

*SUP 1: Y108.05 Low Sept 7 

*SUP 2: Y107.47 Monthly High July 21 now support 

*SUP 3: Y106.95 High Nov 10 now support 

*SUP 4: Y104.90 Low Nov 10

*COMMENTARY: The recovery from Wednesday's low lacked topside follow through and

having remained capped ahead of Y109.55-93 has traded at fresh 2017 & 10mth

lows. Bears 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

look for a close above Y109.93 to ease bearish pressure and shift focus back to

Y110.67-111.33 where 55 (Y110.99) & 100 (Y111.18) DMAs are located.

SPOT GOLD TECHS: Immediate Focus On Channel Top

*RES 4: $1358.1 - High Aug 16 2016 

*RES 3: $1354.4 - Daily Bull channel top 

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

*RES 1: $1349.5 - 2017 High Sept 7

*PRICE: $1348.4 @ 2130GMT

*SUP 1: $1342.1 - Hourly support Sept 7 

*SUP 2: $1331.4 - Low Sept 6 

*SUP 3: $1326.0 - Low Sept 5 

*SUP 4: $1313.7 - High Aug 30 now support

*COMMENTARY: Fresh 2017 and 12mth highs continue with immediate bullish focus on

$1352.6-1354.4 and overall focus on tests of $1375.1 2016 highs. The Bollinger

top ($1346.6) remains the key concern for bulls. Layers of support continue to

build. Bears now look for a close below $1342.1 to gain breathing room and below

$1326.0 to shift focus back to $1294.6-1313.7 where the 21-DMA ($1302.5) is

noted.

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

[TOPICS: MTABLE]