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]