MNI Asian Morning FX Technical Analysis

20 September 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Above $0.8081 To Pressure 2017 High

*RES 4: $0.8081 - Hourly support Sept 8 now resistance

*RES 3: $0.8066 - Bollinger band top

*RES 2: $0.8061 - Hourly resistance Sept 11

*RES 1: $0.8035 - High Sept 18

*PRICE: $0.8012 @ 2130GMT

*SUP 1: $0.7990 - Hourly support Sept 19 

*SUP 2: $0.7961 - Hourly support Sept 19a 

*SUP 3: $0.7920 - Low Sept 1 

*SUP 4: $0.7902 - 55-DMA

*COMMENTARY: Despite dipping below the daily bull channel base ($0.7975) and the

21-DMA ($0.7972) the pair continues to find support on dips back towards $0.7920

with the 55-DMA below. The $0.8081 resistance remains key. Bulls look for a

close above this level to confirm focus on retests of 2017 highs. Bears still

need a close below $0.7920 to pressure the 55-DMA and below $0.7863 to shift

initial focus back to $0.7781-0.7807.

KIWI TECHS: Bulls Need Close Above $0.7343

*RES 4: $0.7558 - 2017 High July 27 

*RES 3: $0.7458 - High Aug 2 

*RES 2: $0.7389 - Low Aug 3 now resistance 

*RES 1: $0.7343 - High Sept 18

*PRICE: $0.7316 @ 2100GMT

*SUP 1: $0.7293 - Hourly support Sept 19

*SUP 2: $0.7272 - Hourly support Sept 19a

*SUP 3: $0.7248 - Low Sept 18

*SUP 4: $0.7210 - Hourly support Sept 14

*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$1.0950 @ 2100GMT

*SUP 1: NZ$1.0930 - Low Sept 19

*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$1.1017) 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 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. Below NZ$1.0880 initially targets the 55-DMA (NZ$1.0809).

AUSSIE-YEN TECHS: Bulls Now Focused On Y90.73

*RES 4: Y92.16 - Daily Bull channel top 

*RES 3: Y91.90 - High Aug 18 2015 

*RES 2: Y90.73 - Monthly High Dec 4 2015 

*RES 1: Y89.50 - 2017 High Sept 19

*PRICE: Y89.33 @ 2100GMT

*SUP 1: Y88.93 - Low Sept 18

*SUP 2: Y88.54 - Low Sept 18

*SUP 3: Y88.33 - Hourly resistance Sept 14 now support

*SUP 4: Y87.66 - Low Sept 15

*COMMENTARY: Bulls have retained dominance so far this week with fresh 2017 and

nearly 2 year highs that shift focus to the Y90.73 Dec 2015 monthly high. The

Bollinger top (Y89.11) and modestly O/B studies are key concerns for bulls.

Layers of support are starting to build and add to bullish confidence. Initial

support is noted at Y88.93 but bears look for a close below Y88.33 to hint at a

correction back to Y87.36-79 where 21 & 55-DMAs are located.

EURO-AUSSIE TECHS: Bears Need Close Below A$1.4932 

*RES 4: A$1.5093 - High Aug 30

*RES 3: A$1.5043 - High Sept 1

*RES 2: A$1.5033 - High Sept 18

*RES 1: A$1.4997 - Hourly resistance Sept 19

*PRICE: A$1.4973 @ 2100GMT

*SUP 1: A$1.4932 - Hourly support Sept 18a 

*SUP 2: A$1.4858 - Low Sept 15 

*SUP 3: A$1.4807 - Low Sept 14 

*SUP 4: A$1.4792 - Low Aug 18

*COMMENTARY: Bulls have so far failed to capitalise further on Monday's rally

from the 55 & 100-DMAs (A$1.4871-76) with the pair remaining capped ahead of

A$1.5043. Daily studies remain well placed for further gains with the Bollinger

top (A$1.5063) likely to become an issue on a break above A$1.5093. Layers of

support are following the pair higher although bears still need a close below

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

US DOLLAR-INDEX TECHS: 91.577 & 92.661 Levels Key

*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: 91.809 @ 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 (92.375) and around the daily bear channel top

(92.295) 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 (93.472) is situated.

EURO-DOLLAR TECHS: $1.1901-46 Support Key

*RES 4: $1.2092 2017 High Sept 8 

*RES 3: $1.2055 Bollinger band top 

*RES 2: $1.2045 Hourly resistance Sept 8 

*RES 1: $1.2006 High Sept 19

*PRICE: $1.1996 @ 2030GMT

*SUP 1: $1.1946 Hourly support Sept 19 

*SUP 2: $1.1915 Hourly support Sept 18 

*SUP 3: $1.1901 Hourly support Sept 15a 

*SUP 4: $1.1868 Hourly support Sept 14

*COMMENTARY: The pair dipped back towards the daily bull channel base ($1.1843)

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 ($1.2297). Layers of support are building

and adding to bullish confidence. Bears now need a close below $1.1946 to gain

breathing room and below $1.1901 to pressure the channel base.

DOLLAR-YEN TECHS: Bulls Focused on 200-DMA

*RES 4: Y112.42 High July 20 

*RES 3: Y112.23 200-DMA 

*RES 2: Y112.19 High July 26 

*RES 1: Y111.88 High Sept 19

*PRICE: Y111.51 @ 2030GMT

*SUP 1: Y111.11 Hourly support Sept 18 

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

*SUP 3: Y110.62 Hourly support Sept 15 

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

*COMMENTARY: The close above the Y111.33 level added 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). Bears still 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

(Y111.54) remains the key concern for bulls.

SPOT GOLD TECHS: Bears Now Need Close Below $1294.4

*RES 4: $1334.8 - High Sept 13 

*RES 3: $1328.3 - Hourly resistance Sept 15 

*RES 2: $1320.0 - High Sept 18 

*RES 1: $1317.8 - 21-DMA

*PRICE: $1311.5 @ 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: $1278.8 - 55-DMA

*COMMENTARY: Pressure on the 21-DMA took its toll with closes below seeing bears

firmly focused on $1294.4. Bears need a close below this level to confirm focus

on 55 & 100-DMAs ($1266.2-1278.8). 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 ($1358.8).

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

[TOPICS: MTABLE]