MNI Asian Morning FX Technical Analysis

14 September 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Below 21-DMA To Add Weight To Bearish Case

*RES 4: $0.8081 - Hourly support Sept 8 now resistance

*RES 3: $0.8061 - Hourly resistance Sept 11

*RES 2: $0.8044 - High Sept 13

*RES 1: $0.7996 - Low Sept 12 now resistance

*PRICE: $0.7984 @ 2100GMT

*SUP 1: $0.7961 - Low Sept 6 

*SUP 2: $0.7957 - 21-DMA 

*SUP 3: $0.7920 - Hourly support Aug 31 

*SUP 4: $0.7863 - Low Aug 24

*COMMENTARY: The correction lower from 2017 highs sees the pair flirting with

the daily bull channel base ($0.7992). Bears now look for a close below the

21-DMA to confirm a break of the channel base and below $0.7920 to shift initial

focus to $0.7863-78 where the 55-DMA is located. Daily studies are well placed

for a fresh leg lower. Bulls now need a close above $0.7996 to gain breathing

room and above $0.8081 to reconfirm initial focus on 2017 highs.

KIWI TECHS: Remains Capped Ahead Of $0.7337

*RES 4: $0.7337 - High Aug 21 

*RES 3: $0.7320 - High Sept 11 

*RES 2: $0.7303 - High Sept 13 

*RES 1: $0.7276 - Hourly support Sept 13 now resistance

*PRICE: $0.7237 @ 2100GMT

*SUP 1: $0.7275 - Hourly support Sept 11

*SUP 2: $0.7210 - Hourly support Sept 5

*SUP 3: $0.7172 - Low Sept 7

*SUP 4: $0.7134 - 200-DMA

*COMMENTARY: The $0.7337 resistance was noted as key this week and so far bears

have not been disappointed with attempts to rally capped ahead of/at this level.

Bulls need a close above $0.7337 to confirm a break of the 55-DMA ($0.7312) and

to shift overall focus to 2017 highs. Bears remain focused on the 200-DMA while

$0.7337 caps. A close below the 200-DMA is needed to shift overall focus to

tests of 2017 lows.

AUSSIE-KIWI TECHS: Pressuring 21-DMA & Bull Channel Base

*RES 4: NZ$1.1186 - Bollinger band top

*RES 3: NZ$1.1142 - 2017High Sept 1

*RES 2: NZ$1.1107 - High Sept 12

*RES 1: NZ$1.1046 - High Sept 13

*PRICE: NZ$1.1027 @ 2100GMT

*SUP 1: NZ$1.0987 - 21-DMA, Daily Bull channel base

*SUP 2: NZ$1.0913 - Hourly resistance Aug 23 now support

*SUP 3: NZ$1.0880 - High Aug 17 now support

*SUP 4: NZ$1.0858 - Low Aug 23

*COMMENTARY: Continued hesitation ahead of the 2017 high resulted in a close

below NZ$1.1007 Tuesday that sees immediate pressure on the 21-DMA and daily

bull channel base. Bears look for a close below these supports to confirm

immediate focus ton NZ$1.0880-1.0913 and overall focus on NZ$1.0798. Correcting

O/B studies add weight to the bearish case. Bulls now need a close above

NZ$1.1046 to shift focus to NZ$1.1107-42.

AUSSIE-YEN TECHS: Bears Need Close Below Y87.95

*RES 4: Y89.47 - Low Dec 7 2015 now resistance 

*RES 3: Y89.41 - 2017 High July 27 

*RES 2: Y88.81 - High July 28 

*RES 1: Y88.56 - High Sept 12

*PRICE: Y88.26 @ 2100GMT

*SUP 1: Y87.95 - High Sept 1 now support

*SUP 2: Y87.46 - Low Sept 12

*SUP 3: Y87.33 - Hourly support Sept 11

*SUP 4: Y87.06 - Hourly support Sept 11a

*COMMENTARY: Bulls took comfort in the close above Y88.02 Tuesday and bullish

focus now on Y89.41-47. The Bollinger top (Y88.25) is the key concern for bulls

and currently limits follow through. Initial support is noted at Y87.95 with

bears needing a close below to ease immediate bullish pressure and below Y87.33

to pressure Y86.48-65 where the bull channel base is noted.

EURO-AUSSIE TECHS: A$1.4830 & A$1.4997 Levels Key 

*RES 4: A$1.5093 - High Aug 30

*RES 3: A$1.5043 - High Sept 1

*RES 2: A$1.4997 - High Sept 7

*RES 1: A$1.4951 - High Sept 11

*PRICE: A$1.4914 @ 2100GMT

*SUP 1: A$1.4865 - 55-DMA 

*SUP 2: A$1.4859 - 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 below the 55 & 100-DMAs. Bears continue

to look for a close below A$1.4830 to confirm breaks of DMAs and shift focus

back to A$1.4422-94 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: DOLLAR-INDEX TECHS: Bears Need Close Below 92.100

*RES 4: 92.936 - Hourly resistance Aug 31 

*RES 3: 92.711 - High Sept 4 

*RES 2: 92.648 - 21-DMA 

*RES 1: 92.530 - High Sept 13

*PRICE: 92.421 @ 2130GMT

*SUP 1: 92.100 - Alternating hourly support/resistance

*SUP 2: 91.710 - Low Sept 13

*SUP 3: 91.626 - Hourly resistance Sept 8 now support

*SUP 4: 91.410 - Low Sept 11

*COMMENTARY: Hesitation ahead of 92.100 came to an end Wednesday with a break

higher and bullish close that sees immediate focus on 92.530-96.347 where the

21-DMA is located. Bulls need a close above 93.347 to initially pressure the

55-DMA (93.759). A close above the 55-DMA was last seen in early Nov. Bears now

look for a close below 92.100 to gain breathing room and below 91.410 to

reconfirm initial focus on recent 2017 lows.

EURO-DOLLAR TECHS: Pressuring 21-DMA

*RES 4: $1.2045 Hourly resistance Sept 8 

*RES 3: $1.1995 High Sept 13 

*RES 2: $1.1964 Hourly support Sept 13 now resistance 

*RES 1: $1.1926 Low Sept 12 now resistance

*PRICE: $1.1886 @ 2030GMT

*SUP 1: $1.1868 Low Sept 5 

*SUP 2: $1.1823 Low Sept 1 

*SUP 3: $1.1799 Daily Bull channel base 

*SUP 4: $1.1713 21-DMA

*COMMENTARY: The correction from 2017 highs continues with the pair now flirting

with the 21-DMA ($1.1882). Bears now focus on $1.1799-1.1823 where the daily

bull channel base is located with below $1.1868 to add weight to the bearish

case. Resistance layers are building with bulls needing a close above $1.1926 to

ease immediate bearish pressure and above $1.2045 to reconfirm initial focus on

2017 highs. Daily studies are well placed for a fresh leg lower.

DOLLAR-YEN TECHS: Bulls Now Need Close Above Y111.33

*RES 4: Y111.15 55-DMA 

*RES 3: Y110.81 55-DMA 

*RES 2: Y110.76 Bollinger band top 

*RES 1: Y110.69 High Sept 13

*PRICE: Y110.60 @ 2030GMT

*SUP 1: Y110.29 Hourly resistance Sept 13 now support 

*SUP 2: Y109.91 Low Sept 13 

*SUP 3: Y109.58 Hourly resistance Sept 12 now support 

*SUP 4: Y109.23 Low Sept 12

*COMMENTARY: Pressure remains firmly on layers of resistance Y110.69-111.33

where 55 & 100-DMAs are situated. Daily studies are well placed for a fresh leg

higher although the Bollinger top is a concern for bulls. Bulls now look for a

close above Y111.33 to shift initial focus to the 200-DMA (Y112.31). Layers of

resistance continue to build with bears now needing a close below Y109.91 to

ease bullish pressure and below Y108.70 to return focus to 2017 lows.

SPOT GOLD TECHS: Focus Now On $1294.6-1313.7

*RES 4: $1350.5 - Hourly support Sept 8 now resistance 

*RES 3: $1342.1 - Hourly support Sept 8 now resistance A 

*RES 2: $1334.8 - High Sept 13 

*RES 1: $1329.4 - Hourly support Sept 13 now resistance

*PRICE: $1321.5 @ 2130GMT

*SUP 1: $1320.7 - Low Sept 13 

*SUP 2: $1313.7 - High Aug 30 now support 

*SUP 3: $1312.5 - 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 bullish pressure and

now confirms focus on $1294.6-1313.7 where the 21-DMA is located. Below $1294.6

is needed to target 55 ($1272.7) & 100 ($1263.9) DMAs. Resistance layers are

building with bull needing a close above $1234.8 to ease bearish pressure and

above $1242.1 to target $1375.1 2016 highs.

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

[TOPICS: MTABLE]