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MNI Asian Morning FX Technical Analysis

12 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: $0.8061 - Hourly resistance Sept 11
*PRICE: $0.8025 @ 2100GMT
*SUP 1: $0.8009 - Hourly support Sept 7 
*SUP 2: $0.7975 - Daily Bull channel base 
*SUP 3: $0.7961 - Low Sept 6 
*SUP 4: $0.7920 - Hourly support Aug 31
*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 ($0.7863). Key resistance is noted at $0.8081
with bulls needing a close above to ease pressure on $0.8009.
KIWI TECHS: Bears Focused On 200-DMA
*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: $0.7294 - High Sept 11
*PRICE: $0.7243 @ 2100GMT
*SUP 1: $0.7210 - Hourly support Sept 5
*SUP 2: $0.7172 - Low Sept 7
*SUP 3: $0.7133 - 200-DMA
*SUP 4: $0.7128 - Low Aug 31 now resistance
*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
($0.7334) 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 now focus on
the 200-DMA while $0.7337 caps.
AUSSIE-KIWI TECHS: Bears Need Close Below NZ$1.1007
*RES 4: NZ$1.1312 - 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$1.1075 @ 2100GMT
*SUP 1: NZ$1.1040 - Low Sept 11
*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$1.1142-1.1312 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: Bulls Need Close Above Y88.02
*RES 4: Y89.41 - 2017 High July 27 
*RES 3: Y88.81 - High July 28 
*RES 2: Y88.02 - High Aug 7 
*RES 1: Y87.95 - High Sept 1
*PRICE: Y87.85 @ 2100GMT
*SUP 1: Y87.65 - Hourly resistance Sept 11 now support
*SUP 2: Y87.33 - Hourly support Sept 11
*SUP 3: Y87.06 - Hourly support Sept 11a
*SUP 4: Y86.65 - Low Sept 8
*COMMENTARY: Support emerging on dips last week provided bulls comfort as does
the rally to start the new week that sees immediate pressure back on the key
Y88.02 resistance. 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. The Bollinger top
(Y87.88) is the key concern for bulls with potential to limit follow through.
Bears now need a close below Y87.33 to ease bullish pressure.
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$1.4897 @ 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 ease pressure on supports and above A$1.5093 to
return focus to A$1.5175-1.5226.
US DOLLAR-INDEX TECHS: Bulls Need Close Above 92.100
*RES 4: 92.936 - Hourly resistance Aug 31 
*RES 3: 92.711 - High Sept 4 
*RES 2: 92.445 - Low Sept 4 now resistance 
*RES 1: 92.100 - Alternating hourly support/resistance
*PRICE: 91.966 @ 2130GMT
*SUP 1: 91.626 - Hourly resistance Sept 8 now support
*SUP 2: 91.410 - Low Sept 11
*SUP 3: 91.011 - 2017 Low Sept 8
*SUP 4: 90.325 - High Dec 30 2014 now support
*COMMENTARY: The lack of downside follow through has seen a bounce to start the
new week with bulls still needing a close above 92.100 to ease bearish pressure
and hint at a correction back to 92.711-93.347 where the 21-DMA is noted. While
92.100 caps bears remain focused on 89.776-90.325 where levels last seen in Dec
2014 are situated. Bears now look for a close below 91.410 to end correction
talk and reconfirm dominance.
EURO-DOLLAR TECHS: Focus Shifts To $1.1823-68
*RES 4: $1.2187 High Dec 30 2014 
*RES 3: $1.2092 2017 High Sept 8 
*RES 2: $1.2045 Hourly resistance Sept 8 
*RES 1: $1.1992 Hourly resistance Sept 11
*PRICE: $1.1952 @ 2030GMT
*SUP 1: $1.1903 Hourly support Sept 6 
*SUP 2: $1.1868 Low Sept 5 
*SUP 3: $1.1823 Low Sept 1 
*SUP 4: $1.1777 Daily Bull channel base
*COMMENTARY: Friday's lack of topside follow through has been followed up with a
likely close below $1.1984 that confirms an easing of bullish pressure and sees
immediate focus shift to tests of $1.1823-68 where the 21-DMA is situated and
overall focus on the daily bull channel base. Initial resistance is noted at
$1.1992 but bulls now need a close above $1.2045 to return initial focus to
retests of recent 2017 highs.
DOLLAR-YEN TECHS: Bears Need Close Below Y108.70
*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 6
*PRICE: Y109.46 @ 2030GMT
*SUP 1: Y108.97 Hourly resistance Sept 7a now support 
*SUP 2: Y108.70 Hourly resistance Sept 7 now support 
*SUP 3: Y108.05 Alternating hourly support/resistance 
*SUP 4: Y107.32 2017 Low Sept 8
*COMMENTARY: Failure to capitalise on Friday's fresh 2017 and 10tmh lows has
resulted in a correction back towards the Y109.93 resistance. Bulls now look for
a close above Y109.93 to confirm a shift in focus to Y110.67-111.33 where 55
(Y110.88) & 100 (Y111.16) DMAs are located. Above Y111.33 is needed to target
the 200-DMA (Y112.34). Layers of support are building with bears needing a close
below Y108.70 to ease pressure on the Y109.93 resistance.
SPOT GOLD TECHS: Correction Gathering Momentum
*RES 4: $1358.1 - High Aug 16 2016 
*RES 3: $1357.5 - 2017 High Sept 8 
*RES 2: $1350.5 - Hourly support Sept 8 now resistance 
*RES 1: $1342.1 - Low Sept 7 now resistance
*PRICE: $1327.0 @ 2130GMT
*SUP 1: $1326.0 - Low Sept 5 
*SUP 2: $1313.7 - High Aug 30 now support 
*SUP 3: $1307.2 - 21-DMA 
*SUP 4: $1304.9 - Hourly support Aug 31
*COMMENTARY: Fresh 2017 and 12mth highs lacked follow through Friday with bears
taking comfort in the gapping move lower Monday that eased immediate bullish
pressure and hints at a correction back to $1294.6-1313.7 where the 21-DMA is
located. Bears need a close below $1326.0 to add weight to their case. Bulls now
look for a close above $1342.1 to ease pressure on $1226.0 and reconfirm focus
on $1375.1 2016 highs.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

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