MNI Asian Morning FX Technical Analysis

15 September 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Supported Around 21-DMA

*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: $0.8016 - High Sept 14

*PRICE: $0.8004 @ 2100GMT

*SUP 1: $0.7953 - Low Sept 14 

*SUP 2: $0.7920 - Hourly support Aug 31 

*SUP 3: $0.7883 - 55-DMA 

*SUP 4: $0.7863 - Low Aug 24

*COMMENTARY: The correction from 2017 highs saw the pair dip below the 21-DMA

($0.7960) before finding support ahead of the redrawn bull channel base

($0.7952). Bears now look for a close below the bull channel base to see the

$0.7863-83 support pressured. Initial resistance is now noted at $0.8016 with

bulls needing a close above to gain breathing room. The $0.8081 resistance is

key with bulls needing a close above to reconfirm initial focus on 2017 highs.

KIWI TECHS: Below 200-DMA to Target 2017 Lows

*RES 4: $0.7303 - High Sept 13 

*RES 3: $0.7276 - Hourly support Sept 13 now resistance 

*RES 2: $0.7262 - High Sept 14 

*RES 1: $0.7224 - Hourly resistance Sept 14

*PRICE: $0.7216 @ 2100GMT

*SUP 1: $0.7182 - Low Sept 14

*SUP 2: $0.7172 - Low Sept 7

*SUP 3: $0.7149 - Bollinger band base

*SUP 4: $0.7135 - 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 ($0.7311) 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: 21-DMA & Bull Channel Base Supporting

*RES 4: NZ$1.1195 - Low Apr 26 now resistance

*RES 3: NZ$1.1189 - Bollinger band top

*RES 2: NZ$1.1142 - 2017High Sept 1

*RES 1: NZ$1.1107 - High Sept 12

*PRICE: NZ$1.1070 @ 2100GMT

*SUP 1: NZ$1.1046 - Hourly support Sept 14

*SUP 2: NZ$1.0998 - 21-DMA, Daily Bull channel base

*SUP 3: NZ$1.0973 - Low Sept 12

*SUP 4: NZ$1.0913 - Hourly resistance Aug 23 now support

*COMMENTARY: Despite pressuring the 21-DMA and daily bull channel base this week

bears have failed to produce the close below needed to confirm initial focus on

tests of NZ$1.0880-1.0913 and overall focus on the 55-DMA (NZ$1.0782). Initial

support is noted at NZ$1.1046 with bears needing a close below to maintain the

pressure. Bulls now look for a close above 2017 highs to reconfirm a bullish

bias and target the bull channel top (NZ$1.1348).

AUSSIE-YEN TECHS: Y87.95 Support Remains Key

*RES 4: Y88.81 - High July 28 

*RES 3: Y88.75 - High Sept 14 

*RES 2: Y88.57 - Hourly resistance Sept 14a 

*RES 1: Y88.33 - Hourly resistance Sept 14

*PRICE: Y88.23 @ 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: Despite consolidating above Y87.95 the lack of topside follow

through on approach to Y88.81 is less than ideal given the Bollinger top

(Y88.38) limiting follow through & increasing correction risk. Bears continue to

look for a close below Y87.95 to ease immediate bullish pressure and below

Y87.33 to pressure Y86.56-65 where the bull channel base is noted. Bulls need a

close above Y88.81 to reconfirm the bullish bias initially targeting 2017 highs.

EURO-AUSSIE TECHS: Remains Supported Below Key DMAs 

*RES 4: A$1.5043 - High Sept 1

*RES 3: A$1.4997 - High Sept 7

*RES 2: A$1.4951 - High Sept 11

*RES 1: A$1.4924 - High Sept 14

*PRICE: A$1.4885 @ 2100GMT

*SUP 1: A$1.4807 - Low Sept 14 

*SUP 2: A$1.4792 - Low Aug 18 

*SUP 3: A$1.4731 - Low Aug 17 

*SUP 4: A$1.4643 - Low July 28

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

take comfort in support emerging on dips below the 55 & 100-DMAs. Bears now look

for a close below A$1.4791 to confirm breaks of DMAs and shift focus back to

A$1.4422-1.4501 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: Capped Around 21-DMA

*RES 4: 92.711 - High Sept 4 

*RES 3: 92.661 - High Sept 14 

*RES 2: 92.446 - Hourly resistance Sept 14a 

*RES 1: 92.180 - Hourly resistance Sept 14

*PRICE: 92.059 @ 2130GMT

*SUP 1: 91.710 - Low Sept 13

*SUP 2: 91.626 - Hourly resistance Sept 8 now support

*SUP 3: 91.410 - Low Sept 11

*SUP 4: 91.011 - 2017 Low Sept 8

*COMMENTARY: The recovery from 2017 lows has potentially come to an end with

rejection above the 21-DMA (92.582) and the index looking heavy following a

bearish close. The close below 92.100 eases bullish pressure and with below

91.626 to confirm initial focus on 2017 lows. Layers of resistance are building

with bulls needing a close above 92.661 to confirm a break of the 21-DMA and

above 92.936 to shift focus to 93.347-762 where the 55-DMA (93.696) is situated.

EURO-DOLLAR TECHS: Bulls Need Close Above $1.1926

*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: $1.1908 @ 2030GMT

*SUP 1: $1.1838 Low Sept 14 

*SUP 2: $1.1823 Low Sept 1 

*SUP 3: $1.1821 Daily Bull channel base 

*SUP 4: $1.1721 55-DMA

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

with the 21-DMA ($1.1889). Bears continue to focus on $1.1821-23 where the daily

bull channel base is although the recovery from the day's lows Thursday is less

than ideal. Bulls still need a close above $1.1926 to ease immediate bearish

pressure and above $1.2045 to reconfirm initial focus on retests of 2017 highs

with overall focus on the channel top ($1.2264).

DOLLAR-YEN TECHS: Struggling With Key Resistance Region

*RES 4: Y111.33 High July 28 

*RES 3: Y111.14 100-DMA 

*RES 2: Y111.04 High Sept 14 

*RES 1: Y110.80 Hourly resistance Sept 14, Bollinger band top

*PRICE: Y110.27 @ 2030GMT

*SUP 1: Y109.91 Low Sept 13 

*SUP 2: Y109.58 Hourly resistance Sept 12 now support 

*SUP 3: Y109.23 Low Sept 12 

*SUP 4: Y108.97 Hourly resistance Sept 7a now support

*COMMENTARY: The pair is now struggling a little with follow through lacking

Thursday and the pair rejected ahead of the 100-DMA and key Y111.33 resistance.

Bulls continue to look for a close above Y111.33 to shift initial focus to the

200-DMA (Y112.29). Initial support is now noted at Y109.91 with bears needing a

close below to hint at a move back to 2017 lows with below Y109.58 confirming.

The Bollinger top is the key concern and currently limits follow through.

SPOT GOLD TECHS: Supported Ahead Of 21-DMA

*RES 4: $1356.7 - Bollinger band top 

*RES 3: $1350.5 - Hourly support Sept 8 now resistance 

*RES 2: $1342.1 - Hourly support Sept 8 now resistance A 

*RES 1: $1334.8 - High Sept 13

*PRICE: $1329.2 @ 2130GMT

*SUP 1: $1315.5 - Hourly support Sept 14 

*SUP 2: $1314.2 - 21-DMA 

*SUP 3: $1313.7 - High Aug 30 now support 

*SUP 4: $1304.9 - Hourly support Aug 31

*COMMENTARY: The correction lower from 2017 highs has found support ahead of the

21-DMA which is less than ideal given the significance of the $1294.6-1314.2

support region. Bears need a close below $1313.7 to add weight to the case for a

tests of the 55-DMA ($1274.2) and below $1294.6 to confirm. In saying that, the

$1342.resistance remains key with bulls needing a close above to initially

target $1375.1 2016 highs.

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

[TOPICS: MTABLE]