MNI Asian Morning FX Technical Analysis

11 September 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bears Need Close Below $0.8009

*RES 4: $0.8295 - 2015 High Jan 15

*RES 3: $0.8163 - Monthly High May 14 2015

*RES 2: $0.8125 - 2017 High Sept 8

*RES 1: $0.8081 - Hourly support Sept 8 now resistance

*PRICE: $0.8056 @ 2100GMT

*SUP 1: $0.8040 - Hourly support Sept 8 

*SUP 2: $0.8009 - Hourly support Sept 7 

*SUP 3: $0.7966 - Daily Bull channel base 

*SUP 4: $0.7961 - Low Sept 6

*COMMENTARY: Fresh 2017 and 2+ year highs continued Friday although the lack of

topside follow through is a concern for bulls. In saying that, the $0.8009

support remains key this week. Bears continue to look for a close below $0.8009

to shift focus back to $0.7920. Below $0.7920 remains needed to hint at a deeper

correction targeting the 55-DMA ($0.7864). Initial resistance is noted at

$0.8081 with bulls needing a close above to ease pressure on $0.8009-40.

KIWI TECHS: Key Resistance Capping

*RES 4: $0.7389 - Low Aug 3 now resistance 

*RES 3: $0.7370 - High Aug 8 

*RES 2: $0.7337 - High Aug 21 

*RES 1: $0.7285 - Hourly support Sept 8 now resistance

*PRICE: $0.7259 @ 2100GMT

*SUP 1: $0.7242 - Hourly resistance Sept 7 now support 

*SUP 2: $0.7210 - Hourly support Sept 5

*SUP 3: $0.7172 - Low Sept 7

*SUP 4: $0.7133 - 200-DMA

*COMMENTARY: Hesitation around the 21-DMA ($0.7242) came to an end Friday with a

spike higher that remained capped at the $0.7337 resistance. The lack of topside

follow through is a concern with the pair capped ahead of the Bollinger top

($0.7335) Friday. Bulls need a close above $0.7337 to confirm a break of the

55-DMA ($0.7313) and to shift overall focus to 2017 highs. Bears look for a

close below $0.7242 to shift focus back to the 200-DMA.

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

*RES 4: NZ$1.1300 - Daily Bull channel top

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

*RES 2: NZ$1.1189 - Bollinger band top

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

*PRICE: NZ$1.1088 @ 2100GMT

*SUP 1: NZ$1.1055 - Low Sept 8

*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 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.

Daily studies looking to correct from O/B are less than ideal for bulls.

AUSSIE-YEN TECHS: Y86.54 Support Remains Key

*RES 4: Y88.81 - High July 28 

*RES 3: Y88.02 - High Aug 7 

*RES 2: Y87.76 - Bollinger band top 

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

*PRICE: Y87.16 @ 2100GMT

*SUP 1: Y86.65 - Low Sept 8

*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 (Y86.88). 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$1.4915 @ 2100GMT

*SUP 1: A$1.4866 - 55-DMA 

*SUP 2: A$1.4852 - 100-DMA 

*SUP 3: A$1.4830 - Low Sept 6 

*SUP 4: A$1.4792 - Low Aug 18

*COMMENTARY: Topside follow through was lacking again last week although bulls

take comfort in support emerging on dips back towards the 55 & 100-DMAs. Bears

continue to look for a close below A$1.4792 to confirm breaks of DMAs and shift

focus back to A$1.4422-89 where the 200-DMA and July lows are noted. Bulls still

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: 91.447 @ 2130GMT

*SUP 1: 91.011 - 2017 Low Sept 8

*SUP 2: 90.325 - High Dec 30 2014 now support

*SUP 3: 89.776 - Low Dec 26 2014 

*SUP 4: 88.921 - Low Dec 18 2014

*COMMENTARY: The rejection above the 21-DMA (92.768) last week resulted in fresh

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

Bollinger base (91.349) remains the key concern for bears with potential to

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

bulls still 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: $1.1984 Support Key Today

*RES 4: $1.2254 High Dec 25 2014 

*RES 3: $1.2220 Daily Bull channel top 

*RES 2: $1.2187 High Dec 30 2014 

*RES 1: $1.2092 2017 High Sept 8

*PRICE: $1.2012 @ 2030GMT

*SUP 1: $1.2015 Low Sept 8 

*SUP 2: $1.1984 Hourly support Sept 7 

*SUP 3: $1.1903 Hourly support Sept 6 

*SUP 4: $1.1868 Low Sept 5

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

fresh 2017 highs Friday with bullish focus currently on $1.2187-1.2254 where the

daily bull channel top is located. The Bollinger top ($1.2062) is the key

concern and limits follow through. Bears still need a close below $1.1984 to

hint at a correction back to $1.1823-59. Daily studies remain supportive of

gains.

DOLLAR-YEN TECHS: Downside Follow Through Lacking

*RES 4: Y109.93 High Sept 4 

*RES 3: Y109.55 Hourly resistance Sept 6 

*RES 2: Y108.97 Hourly resistance Sept 7a 

*RES 1: Y108.70 Hourly resistance Sept 7

*PRICE: Y108.26 @ 2030GMT

*SUP 1: Y108.05 Alternating hourly support/resistance 

*SUP 2: Y107.32 2017 Low Sept 8 

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

*SUP 4: Y104.90 Low Nov 10

*COMMENTARY: Bearish confidence received a boost with fresh 2017 and 10tmh lows

shifting immediate focus to Y106.95 and overall focus to Y99.08-101.15. The lack

of follow through courtesy of the Bollinger base (Y108.03) is less than ideal

for bears. Initial support is noted at Y108.05 with bears needing a close below

this level to maintain initial focus on Y106.95. Bulls need a close above

Y108.97 to gain breathing room.

SPOT GOLD TECHS: 2017 Highs Lack Follow Through

*RES 4: $1375.2 - 2016 High July 6 

*RES 3: $1367.3 - Monthly high Aug 2 2016 

*RES 2: $1358.1 - High Aug 16 2016 

*RES 1: $1357.5 - 2017 High Sept 8

*PRICE: $1346.3 @ 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

now on tests of $1375.1 2016 highs. The Bollinger top ($1352.6) and very O/B

daily studies remain concerns for bulls. Bears continue to 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 ($1305.4) is noted.

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

[TOPICS: MTABLE]