MNI Asian Morning FX Technical Analysis

19 September 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Finding Support Ahead of 55-DMA

*RES 4: $0.8061 - Hourly resistance Sept 11

*RES 3: $0.8035 - High Sept 18

*RES 2: $0.8000 - Hourly support Sept 18 now resistance

*RES 1: $0.7981 - Hourly support Sept 14 now resistance

*PRICE: $0.7961 @ 2100GMT

*SUP 1: $0.7920 - Low Sept 1 

*SUP 2: $0.7895 - 55-DMA 

*SUP 3: $0.7876 - Bollinger band base 

*SUP 4: $0.7863 - Low Aug 24

*COMMENTARY: The reversal lower from the day's highs Monday sees the pair

flirting with the 21-DMA ($0.7969) & bull channel base ($0.7967) & pressure on

the $0.7920 support. Bears need a close below this level to pressure the 55-DMA

and below $0.7863 to shift initial focus back to $0.7781-0.7807. Layers of

resistance are building once again with bulls now needing a close above $0.8000

to gain breathing room and above $0.8081 to shift focus back to 2017 highs.

KIWI TECHS: Lacks Follow Through Above 55-DMA

*RES 4: $0.7389 - Low Aug 3 now resistance 

*RES 3: $0.7343 - High Sept 18 

*RES 2: $0.7318 - Bollinger band top 

*RES 1: $0.7291 - Hourly support Sept 18 now resistance

*PRICE: $0.7260 @ 2100GMT

*SUP 1: $0.7248 - Low Sept 18

*SUP 2: $0.7210 - Hourly support Sept 14

*SUP 3: $0.7182 - Low Sept 14

*SUP 4: $0.7172 - Low Sept 7

*COMMENTARY: Bulls have again failed to gain traction on a break above the

55-DMA with the rejection leaving the pair looking a little heavy with focus

having returned to the $0.7172 support and then the 200-DMA ($0.7136). Bears

need a close below the 200-DMA to shift overall focus back to tests of 2017

lows. Bulls now need a close above $0.7291 to gain breathing room and above

$0.7343 to confirm a break of the 55-DMA.

AUSSIE-KIWI TECHS: Focus Now On NZ$1.0880-1.0913

*RES 4: NZ$1.1107 - High Sept 12

*RES 3: NZ$1.1057 - Hourly support Sept 15a now resistance

*RES 2: NZ$1.1025 - Hourly support Sept 15 now resistance

*RES 1: NZ$1.0994 - High Sept 18

*PRICE: NZ$1.0967 @ 2100GMT

*SUP 1: NZ$1.0935 - Low Sept 18

*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$1.1011) and daily bull channel base took

its toll Friday with a close below that eased bullish pressure and saw initial

focus shift to the NZ$1.0880-1.0913 support region. Layers of resistance have

followed the pair lower with bulls now needing a close above NZ$1.0994 to ease

immediate bearish pressure and above NZ$1.1025 to hint at a move back to

NZ$1.1107-42.

AUSSIE-YEN TECHS: Hesitating Ahead of 2017 High

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

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

*RES 2: Y89.34 - High Sept 18 

*RES 1: Y89.10 - Hourly support Sept 18 now resistance

*PRICE: Y88.82 @ 2100GMT

*SUP 1: Y88.54 - Low Sept 18

*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: A$1.5093 Resistance Remains Key 

*RES 4: A$1.5093 - High Aug 30

*RES 3: A$1.5061 - Bollinger band top

*RES 2: A$1.5043 - High Sept 1

*RES 1: A$1.5033 - High Sept 18

*PRICE: A$1.5012 @ 2100GMT

*SUP 1: A$1.4973 - Hourly support Sept 18 

*SUP 2: A$1.4932 - Hourly support Sept 18a 

*SUP 3: A$1.4858 - Low Sept 15 

*SUP 4: A$1.4807 - Low Sept 14

*COMMENTARY: The break higher to start the new week sees bulls pressuring

resistance layers with a close above A$1.5093 needed to reconfirm immediate

focus on A$1.5172-1.5226 where 2017 highs are located. Daily studies are well

placed for gains although the Bollinger top is likely to limit follow through.

Layers of support are following the pair higher with bears now needing a close

below A$1.4932 to shift focus back to A$1.4792-1.4807.

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: 92.210 - High Sept 18

*PRICE: 92.004 @ 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 (92.434) and around the daily bear channel top

(92.380) 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: $1.2048 Bollinger band top 

*RES 2: $1.2045 Hourly resistance Sept 8 

*RES 1: $1.1995 High Sept 13

*PRICE: $1.1949 @ 2030GMT

*SUP 1: $1.1901 Hourly support Sept 15a 

*SUP 2: $1.1868 Hourly support Sept 14 

*SUP 3: $1.1838 Low Sept 14 

*SUP 4: $1.1823 Low Sept 1

*COMMENTARY: The pair dipped back towards the daily bull channel base ($1.1832)

last week with bulls taking comfort in the bounce and close above $1.1926. Bulls

need a close above $1.2045 to reconfirm initial focus on retests of 2017 highs

with overall focus on the channel top ($1.2286). Layers of support remain and

studies are well placed for gains. Bears need a close below $1.1901 to ease

bullish pressure.

DOLLAR-YEN TECHS: Focus Shifts to 200-DMA

*RES 4: Y112.42 High July 20 

*RES 3: Y112.25 200-DMA 

*RES 2: Y112.19 High July 26 

*RES 1: Y111.71 High July 27

*PRICE: Y111.52 @ 2030GMT

*SUP 1: Y111.33 Hourly support Sept 18 

*SUP 2: Y110.99 Hourly support Sept 18a 

*SUP 3: Y110.62 Hourly support Sept 15 

*SUP 4: Y110.29 Hourly resistance Sept 15 now support

*COMMENTARY: The likely close above the Y111.33 level adds support to the

bullish case and sees focus now on the 200-DMA. Bulls now look for a close above

the 200-DMA to shift initial focus to July highs (Y114.49) and overall focus to

2017 highs (Y118.61). Initial support is noted at Y111.33 but bears look for a

close below Y110.99 to ease bullish pressure and below Y110.62 to shift initial

focus back to Y109.55. The Bollinger top (Y111.25) is the key concern for bulls.

SPOT GOLD TECHS: Bears Now Need Close Below $1294.4

*RES 4: $1342.1 - Hourly support Sept 8 now resistance A 

*RES 3: $1334.8 - High Sept 13 

*RES 2: $1328.3 - Hourly resistance Sept 15 

*RES 1: $1320.0 - High Sept 18

*PRICE: $1308.7 @ 2130GMT

*SUP 1: $1304.6 - Low Sept 18 

*SUP 2: $1298.4 - Low Aug 31 

*SUP 3: $1294.4 - High Aug 25 now support 

*SUP 4: $1277.3 - 55-DMA

*COMMENTARY: Pressure on the 21-DMA ($1316.9) has taken its toll with a close

below that sees bears firmly focused on $1294.4. Bears need a close below this

level to confirm focus on 55 & 100-DMAs ($1265.7-1277.3). Daily studies are well

placed for a fresh leg lower. Bulls now need a close above $1320.0 to ease

bearish pressure and above $1342.1 to shift focus back to 2017 highs and the

bull channel top ($1358.3).

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

[TOPICS: MTABLE]