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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]

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