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MNI Asian Morning FX Technical Analysis

21 September 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: Rejected Ahead Of 2017 High
*RES 4: $0.8125 - 2017 High Sept 8 
*RES 3: $0.8101 - High Sept 20
*RES 2: $0.8068 - Hourly support Sept 20 now resistance, Bollinger top
*RES 1: $0.8045 - Hourly support Sept 20 now resistance
*PRICE: $0.8028 @ 2130GMT
*SUP 1: $0.7983 - Low Sept 20, Daily Bull channel base 
*SUP 2: $0.7961 - Hourly support Sept 19a 
*SUP 3: $0.7920 - Low Sept 1 
*SUP 4: $0.7910 - 55-DMA
*COMMENTARY: Pressure has returned to the daily bull channel base following the
aggressive rejection from ahead of 2017 highs Wednesday. Layers of support
$0.7910-83 remain key. Bears need a close below the 55-DMA to end bullish hopes,
shifting immediate focus to $0.7863 and overall focus to $0.7781-0.7807. Layers
of resistance are now weighing with bulls needing a close above $0.8045 to shift
focus back to 2017 highs.
KIWI TECHS: Topside Follow Through Lacking
*RES 4: $0.7458 - High Aug 2 
*RES 3: $0.7433 - High Sept 20 
*RES 2: $0.7377 - Hourly support Sept 20a now resistance 
*RES 1: $0.7361 - Hourly support Sept 20 now resistance
*PRICE: $0.7353 @ 2100GMT
*SUP 1: $0.7303 - Low Sept 20
*SUP 2: $0.7293 - Hourly support Sept 19
*SUP 3: $0.7272 - Hourly support Sept 19a
*SUP 4: $0.7248 - Low Sept 18
*COMMENTARY: The close above the 55-DMA ($0.7311) Tuesday added support to the
bullish case resulting in a spike towards $0.7458 only to have follow through
limited by the Bollinger top ($0.7334). Layers of support remain with bears now
needing a close below $0.7293 to confirm an easing of bullish pressure and below
$0.7248 to shift focus back to $0.7130-82 where the 200-DMA and Aug monthly lows
are noted. Bulls need a close above $0.7377 to retain topside focus.
AUSSIE-KIWI TECHS: Immediate Focus Now On NZ$1.0880
*RES 4: NZ$1.1025 - Hourly support Sept 15 now resistance
*RES 3: NZ$1.0994 - High Sept 18
*RES 2: NZ$1.0978 - High Sept 20
*RES 1: NZ$1.0940 - Hourly resistance Sept 20
*PRICE: NZ$1.0913 @ 2100GMT
*SUP 1: NZ$1.0880 - High Aug 17 now support
*SUP 2: NZ$1.0858 - Low Aug 23 
*SUP 3: NZ$1.0817 - 55-DMA
*SUP 4: NZ$1.0798 - Low Aug 16
*COMMENTARY: Pressure on the 21-DMA (NZ$1.1019) 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
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.
AUSSIE-YEN TECHS: Immediate Bullish Focus On Y90.73
*RES 4: Y92.23 - Daily Bull channel top 
*RES 3: Y91.90 - High Aug 18 2015 
*RES 2: Y90.73 - Monthly High Dec 4 2015 
*RES 1: Y90.17 - 2017 High Sept 20
*PRICE: Y90.03 @ 2100GMT
*SUP 1: Y89.73 - Hourly support Sept 20
*SUP 2: Y89.50 - High Sept 19 now support
*SUP 3: Y89.21 - Low Sept 20
*SUP 4: Y88.93 - Low Sept 18
*COMMENTARY: Bulls have retained dominance this week with fresh 2017 and nearly
2 year highs that confirm focus to the Y90.73 Dec 2015 monthly high. The
Bollinger top (Y89.57) 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 Y89.73 but bears look for a close below Y89.21 to ease
bullish pressure and below Y88.54 to pressure Y87.53-66.
EURO-AUSSIE TECHS: Pressure Returns To Key Supports 
*RES 4: A$1.4997 - Hourly resistance Sept 19
*RES 3: A$1.4990 - High Sept 20
*RES 2: A$1.4944 - Hourly resistance Sept 20a, 21-DMA
*RES 1: A$1.4878 - 100-DMA
*PRICE: A$1.4812 @ 2100GMT
*SUP 1: A$1.4792 - Low Aug 18 
*SUP 2: A$1.4767 - 100-WMA 
*SUP 3: A$1.4754 - 200-WMA 
*SUP 4: A$1.4731 - Low Aug 17
*COMMENTARY: Failure to capitalise further on Monday's rally from the 55 &
100-DMAs (A$1.4869-78) resulted in a sharp sell-off Wednesday with immediate
pressure back on key supports. Bears now need a close below A$1.4792 to hint at
a move back to the 200-DMA (A$1.4512) with below the 200-WMA confirming. Daily
studies are well placed for losses but the Bollinger base (A$1.4820) remains the
key concern. Bulls need a close above the 100-DMA to gain breathing room.
US DOLLAR-INDEX TECHS: Bullish Key Day Reversal
*RES 4: 93.347 - High Aug 31 
*RES 3: 92.936 - Hourly resistance Aug 31 
*RES 2: 92.711 - High Sept 4 
*RES 1: 92.697 - High Sept 20
*PRICE: 92.427 @ 2130GMT
*SUP 1: 92.210 - High Sept 18 now support
*SUP 2: 92.049 - High Sept 19
*SUP 3: 91.883 - Hourly resistance Sept 19 now support
*SUP 4: 91.526 - Low Sept 20
*COMMENTARY: A bullish key day reversal and closes above the bear channel top
(92.210) and 21-DMA (92.321) puts a dent in bearish hopes with bulls now looking
for a close above 92.936 to shift focus to 93.347-762 where the 55-DMA (93.402)
is situated. Daily studies and the Bollinger top (93.293) are well placed for
further gains. Initial support is noted at 92.210 with bears needing a close
below to ease bullish pressure and below 91.883 to initially pressure 91.526.
EURO-DOLLAR TECHS: Pressure Back On Channel Base
*RES 4: $1.2033 High Sept 20 
*RES 3: $1.1984 Hourly support Sept 20 now resistance 
*RES 2: $1.1946 Hourly support Sept 19 now resistance 
*RES 1: $1.1915 Hourly support Sept 18 now resistance
*PRICE: $1.1892 @ 2030GMT
*SUP 1: $1.1862 Low Sept 20 
*SUP 2: $1.1854 Daily Bull channel base 
*SUP 3: $1.1834 Low Sept 14 
*SUP 4: $1.1822 Low Aug 31
*COMMENTARY: An aggressive rejection ahead of the $1.2045 resistance Wednesday
eased bullish pressure with immediate focus back to the $1.1822-54 support
region where the channel base is found. Bears need a close below $1.1822 to
shift initial focus to the 55-DMA ($1.1763) and overall focus to $1.1583-1.1658.
Layers of resistance have been left in the wake with bulls needing a close above
$1.1946 to gain breathing room and above $1.2045 to reconfirm a bullish bias.
DOLLAR-YEN TECHS: Immediate Focus on Y112.85
*RES 4: Y114.49 Monthly High July 11 
*RES 3: Y113.70 Low July 11 now resistance 
*RES 2: Y112.85 Low July 13 now resistance 
*RES 1: Y112.53 High Sept 20
*PRICE: Y112.16 @ 2030GMT
*SUP 1: Y111.88 High Sept 19 now support 
*SUP 2: Y111.54 Hourly resistance Sept 20 now support 
*SUP 3: Y111.09 Low Sept 20 
*SUP 4: Y110.99 Hourly support Sept 18 a
*COMMENTARY: Gains continue following closes above 55 (Y110.66) & 100 (Y111.12)
DMAs with the pair looking to gain traction above the 200-DMA (Y112.21).
Immediate focus shifts to Y112.85 with overall focus on July monthly highs. O/B
studies and the Bollinger top (Y112.00) remain key concerns for bulls. Layers of
support accumulating add to bullish confidence with bears now needing a close
below Y111.88 to gain breathing room and below Y110.99 to shift focus lower.
SPOT GOLD TECHS: Bears Still Need Close Below $1294.4
*RES 4: $1320.0 - High Sept 18 
*RES 3: $1316.0 - High Sept 20 
*RES 2: $1309.9 - Hourly support Sept 20 now resistance 
*RES 1: $1304.6 - Low Sept 18 now resistance
*PRICE: $1301.2 @ 2130GMT
*SUP 1: $1296.0 - Low Sept 20 
*SUP 2: $1294.4 - High Aug 25 now support 
*SUP 3: $1283.7 - Bollinger band top 
*SUP 4: $1280.2 - 55-DMA
*COMMENTARY: Pressure on the 21-DMA took its toll Monday with closes below
seeing bears focused on $1294.4. Bears need a close below this level to confirm
focus on 55 & 100-DMAs ($1266.8-1280.2). Layers of resistance are weighing and
adding to bearish confidence. Bulls now need a close above $1309.9 to ease
immediate bearish pressure and above $1320.0 to hint at a bounce back to
$1334.8-1342.1.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

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