Free Trial

MNI Asian Morning FX Technical Analysis

18 September 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: $0.7953 Support Key This Week
*RES 4: $0.8081 - Hourly support Sept 8 now resistance
*RES 3: $0.8061 - Hourly resistance Sept 11
*RES 2: $0.8034 - High Sept 15
*RES 1: $0.8010 - Hourly support Sept 15 now resistance
*PRICE: $0.7995 @ 2100GMT
*SUP 1: $0.7981 - Hourly support Sept 14 
*SUP 2: $0.7953 - Low Sept 14 
*SUP 3: $0.7920 - Hourly support Aug 31 
*SUP 4: $0.7895 - 55-DMA
*COMMENTARY: The correction from 2017 highs saw the pair dip below the 21-DMA
($0.7970) before finding support ahead of the redrawn bull channel base
($0.7959) Thursday. Bears now look for a close below $0.7953 to see the
$0.7863-0.7920 support pressured. Layers of resistance remain with bulls needing
a close above $0.8034 to gain breathing room and above $0.8081 to reconfirm
initial focus on 2017 highs.
KIWI TECHS: Support Layers Building
*RES 4: $0.7389 - Low Aug 3 now resistance 
*RES 3: $0.7337 - High Aug 21 
*RES 2: $0.7320 - High Sept 11, Bollinger band top 
*RES 1: $0.7310 - 55-DMA
*PRICE: $0.7276 @ 2100GMT
*SUP 1: $0.7256 - Hourly resistance Sept 15 now support
*SUP 2: $0.7210 - Hourly support Sept 14
*SUP 3: $0.7182 - Low Sept 14
*SUP 4: $0.7172 - Low Sept 7
*COMMENTARY: The $0.7337 resistance remains key this week. Bulls still need a
close above $0.7337 to confirm a break of the 55-DMA ($0.7310) and to shift
overall focus to 2017 highs. Layers of support are building and adding to
bullish confidence. Bears now need a close below $0.7256 to ease pressure on the
55-DMA and retain bearish focus on tests of 200-DMA ($0.7136). The Bollinger top
($0.7320) remains a concern for bulls.
AUSSIE-KIWI TECHS: Closes Below Key Supports
*RES 4: NZ$1.1142 - 2017High Sept 1
*RES 3: NZ$1.1107 - High Sept 12
*RES 2: NZ$1.1057 - Hourly support Sept 15a now resistance
*RES 1: NZ$1.1025 - Hourly support Sept 15 now resistance
*PRICE: NZ$1.0983 @ 2100GMT
*SUP 1: NZ$1.0951 - Low Sept 15
*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: Pressure on the 21-DMA (NZ$1.1005) and daily bull channel base
(NZ$1.1011) took its toll Friday with a close below that eases bullish pressure
and sees initial focus shift to the NZ$1.1080-1.0913 support region. Layers of
resistance have followed the pair lower with bulls now needing a close above
NZ$1.1057 to ease immediate bearish pressure and above NZ$1.1092 to shift
immediate focus back to NZ$1.1142-95 where 2017 highs are situated.
AUSSIE-YEN TECHS: Below Y88.33 To Hint At Correction
*RES 4: Y89.47 - Low Dec 7 2015 now resistance 
*RES 3: Y89.41 - 2017 High July 27 
*RES 2: Y89.28 - High Sept 15 
*RES 1: Y88.94 - Hourly resistance Sept 15
*PRICE: Y88.82 @ 2100GMT
*SUP 1: Y88.60 - Hourly support Sept 15
*SUP 2: Y88.33 - Hourly resistance Sept 14 now support
*SUP 3: Y87.66 - Low Sept 15
*SUP 4: Y87.40 - 55-DMA
*COMMENTARY: Gains defined last week with pressure having returned to Y89.41-47
where 2017 highs are situated. The Bollinger top (Y88.82) remains the key
concern for bulls and limits follow through. Layers of support accumulated last
week with bears now needing a close below Y88.33 to ease immediate bullish
pressure and hint at a correction back to Y87.36-66 where 21 & 55-DMAs are
located.
EURO-AUSSIE TECHS: Remains Supported Below Key DMAs 
*RES 4: A$1.5052 - Bollinger band top
*RES 3: A$1.5043 - High Sept 1
*RES 2: A$1.4997 - High Sept 7
*RES 1: A$1.4967 - High Sept 15
*PRICE: A$1.4900 @ 2100GMT
*SUP 1: A$1.4858 - Low Sept 15 
*SUP 2: A$1.4807 - Low Sept 14 
*SUP 3: A$1.4792 - Low Aug 18 
*SUP 4: A$1.4731 - Low Aug 17
*COMMENTARY: Topside follow through remained lacking again last week although
bulls took comfort in support emerging on dips below the 55 & 100-DMAs. Bears
now look for a close below A$1.4792 to confirm breaks of DMAs and shift focus
back to A$1.4422-1.4505 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 92.661
*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: 91.981 @ 2130GMT
*SUP 1: 91.732 - Hourly support Sept 15
*SUP 2: 91.577 - Low Sept 15
*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 (92.433) and around the daily bear channel top
(92.465) last week. Bears now need a close below 91.577 to add weight to the
case for a retest of 2017 lows. Layers of resistance remain 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 (93.552) is situated.
EURO-DOLLAR TECHS: Bears Need Close Below $1.1901
*RES 4: $1.2092 2017 High Sept 8
*RES 3: $1.2047 Bollinger band top 
*RES 2: $1.2045 Hourly resistance Sept 8 
*RES 1: $1.1995 High Sept 13
*PRICE: $1.1929 @ 2030GMT
*SUP 1: $1.1927 Hourly support Sept 15 
*SUP 2: $1.1901 Hourly support Sept 15a 
*SUP 3: $1.1868 Hourly support Sept 14 
*SUP 4: $1.1838 Low Sept 14
*COMMENTARY: The pair dipped back towards the daily bull channel base ($1.1821)
last week with bulls taking comfort in the bounce and close above $1.1926. Bulls
now need a close above $1.2045 to reconfirm initial focus on retests of 2017
highs with overall focus on the channel top ($1.2275). Layers of support are
building and studies are well placed for gains. Bears need a close below $1.1901
to ease bullish pressure.
DOLLAR-YEN TECHS: Key Resistance Caps Friday
*RES 4: Y112.25 200-DMA 
*RES 3: Y112.19 High July 26 
*RES 2: Y111.33 High July 28, High Sept 15 
*RES 1: Y111.11 Hourly resistance Sept 15
*PRICE: Y111.09 @ 2030GMT
*SUP 1: Y110.62 Hourly support Sept 15 
*SUP 2: Y110.29 Hourly resistance Sept 15 now support 
*SUP 3: Y109.89 Hourly support Sept 15 
*SUP 4: Y109.55 Low Sept 15
*COMMENTARY: The pair remained capped at or ahead of the key Y111.33 resistance
level last week with bulls continuing to look for a close above Y111.33 to
confirm breaks of 55 (Y110.70) & 100 (Y111.12) DMAs and initially focus on the
200-DMA. The Bollinger top (Y111.16) currently limits follow through and is the
key concern for bulls. Bears now need a close below Y110.62 to gain breathing
room and below Y109.56 now to shift focus back to 2017 lows.
SPOT GOLD TECHS: Bears Need Close Below $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: $1328.3 - Hourly resistance Sept 15
*PRICE: $1319.2 @ 2130GMT
*SUP 1: $1315.8 - 21-DMA 
*SUP 2: $1315.5 - Hourly support Sept 14 
*SUP 3: $1313.7 - High Aug 30 now support 
*SUP 4: $1304.9 - Hourly support Aug 31
*COMMENTARY: Bulls took comfort in the bounce from the 21-DMA Thursday but
pressure returning to this level Friday is less than ideal. Daily studies have
corrected back to more neutral levels with bulls now needing a close above
$1334.8 to gain breathing room and above $1342.1 to shift initial focus to tests
of $1375.2 2016 highs. Bears now need a close below $1313.7 to confirm a break
of the 21-DMA and below $1295.5 to target the 55-DMA ($1275.71).
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
}); window.REBELMOUSE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ (function appendPosts () { var policyPosts = document.getElementsByClassName('policy-posts-wrapper')[0]; var policyPostsMenu = document.querySelector('.policy-posts-span'); policyPostsMenu.append(policyPosts); policyPosts.style.display = "block"; var empolicyPosts = document.getElementsByClassName('em-policy-posts-wrapper')[0]; var empolicyPostsMenu = document.querySelector('.em-policy-posts-span'); empolicyPostsMenu.append(empolicyPosts); empolicyPosts.style.display = "block"; var dataPosts = document.getElementsByClassName('data-posts-wrapper')[0]; var dataPostsMenu = document.querySelector('.data-posts-span'); dataPostsMenu.append(dataPosts); dataPosts.style.display = "block"; })(); }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ document.querySelectorAll(".my-mni").forEach(function(item){ item.href="/core/users/email_login/"; item.innerHTML="Log In"; }) }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ document.querySelector('.signup-form').addEventListener('submit', () => { window.dataLayer = window.dataLayer || []; dataLayer.push({ 'event' : 'submission_click', 'event_category': "Sign Up Button Clicks", 'event_label': "Posts" }); }) }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){ item.onsubmit=function(e){ ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15}); window.dataLayer = window.dataLayer || []; dataLayer.push({ 'event' : 'signup_click', 'event_category': "Signup", 'event_action': 'CompletedForm', 'event_label': 'pageTitle', 'event_value': 15 }); } }) }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ document.querySelectorAll("img").forEach(function (img) { img.addEventListener("contextmenu", function (e) { return false; }); }); document .querySelector(".site-logo img") .addEventListener("contextmenu", function (e) { return true; }); }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ document.querySelector('.signup-form').addEventListener('submit', () => { window.dataLayer = window.dataLayer || []; dataLayer.push({ 'event' : 'submission_click', 'event_category': "Sign Up Button Clicks", 'event_label': "Posts" }); }) }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){ item.onsubmit=function(e){ ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15}); window.dataLayer = window.dataLayer || []; dataLayer.push({ 'event' : 'signup_click', 'event_category': "Signup", 'event_action': 'CompletedForm', 'event_label': 'pageTitle', 'event_value': 15 }); } }) }); window.REBELMOUSE_TASKS_QUEUE.push(function(){ let posts = document.querySelectorAll(".all-content-wrapper .widget:not(.stream-story-processed)"); window.check_story_posts(posts, "streamOfPosts"); }); window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){ function populateInputsWithAPAPI(c) { document.querySelectorAll('.signup-form input[name="country"]').forEach(el => { el.setAttribute("value", c.country_name); }); document.querySelectorAll('.signup-form .country_name').forEach(el => { el.setAttribute("value", c.country_name); }); let country_code = c && c.country_code ? c.country_code.toLowerCase() : "auto"; document.querySelectorAll('.signup-form .country_code').forEach(el => { el.setAttribute("value", country_code); }); document.querySelectorAll('.signup-form .selected_country').forEach(el => { el.setAttribute("value", country_code); }); } const fetch = function (err, res) { var r = new XMLHttpRequest(); r.open("GET", err, !0), (r.responseType = "json"), (r.onload = function () { var err = r.status; res(200 === err ? null : err, r.response); }), r.send(); }; function setupCountry() { if (window.preventDuplicateExec) { return; } window.preventDuplicateExec = true; window.REBELMOUSE_STDLIB.onElementInViewport({ threshold: 0, firstOnly: true, oneTime: true, selector: ".signup-form", onIntersect: (entry) => { // when you need to get access to that data you call it in that way: let ipapiData = localStorage.getItem("ipapiData"); if (!ipapiData) { fetch("https://ipapi.co/json/", function (err, ipData) { console.log("populating inputs with data from IP API "); localStorage.setItem("ipapiData", JSON.stringify(ipData)); populateInputsWithAPAPI(ipData); }); } else { console.log( "populating inputs with data from IP API data stored in local storage" ); populateInputsWithAPAPI(JSON.parse(ipapiData)); } }, }); } setupCountry(); }); window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){ /* const sidebar = document.querySelector('.left-sidebar-container'); const stickyContent = document.querySelector('.sticky-content'); const siteContent = document.querySelector('.all-posts-stream'); if (sidebar && stickyContent && siteContent) { if (siteContent.clientHeight > sidebar.clientHeight) { console.log('grater -> ', siteContent.clientHeight + ' > ' + sidebar.clientHeight); stickyContent.style.height = (siteContent.clientHeight - sidebar.clientHeight) + 'px'; } } */ }); window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){ function populateInputsWithAPAPI(c) { document.querySelectorAll('.signup-form input[name="country"]').forEach(el => { el.setAttribute("value", c.country_name); }); document.querySelectorAll('.signup-form .country_name').forEach(el => { el.setAttribute("value", c.country_name); }); let country_code = c && c.country_code ? c.country_code.toLowerCase() : "auto"; document.querySelectorAll('.signup-form .country_code').forEach(el => { el.setAttribute("value", country_code); }); document.querySelectorAll('.signup-form .selected_country').forEach(el => { el.setAttribute("value", country_code); }); } const fetch = function (err, res) { var r = new XMLHttpRequest(); r.open("GET", err, !0), (r.responseType = "json"), (r.onload = function () { var err = r.status; res(200 === err ? null : err, r.response); }), r.send(); }; function setupCountry() { if (window.preventDuplicateExec) { return; } window.preventDuplicateExec = true; window.REBELMOUSE_STDLIB.onElementInViewport({ threshold: 0, firstOnly: true, oneTime: true, selector: ".signup-form", onIntersect: (entry) => { // when you need to get access to that data you call it in that way: let ipapiData = localStorage.getItem("ipapiData"); if (!ipapiData) { fetch("https://ipapi.co/json/", function (err, ipData) { console.log("populating inputs with data from IP API "); localStorage.setItem("ipapiData", JSON.stringify(ipData)); populateInputsWithAPAPI(ipData); }); } else { console.log( "populating inputs with data from IP API data stored in local storage" ); populateInputsWithAPAPI(JSON.parse(ipapiData)); } }, }); } setupCountry(); });