MNI Asian Morning FX Technical Analysis

22 September 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Heavy & Pressuring 55-DMA

*RES 4: $0.8068 - Hourly support Sept 20a now resistance, Bollinger top

*RES 3: $0.8036 - High Sept 21

*RES 2: $0.7983 - Low Sept 20 now resistance

*RES 1: $0.7945 - Hourly resistance Sept 20

*PRICE: $0.7927 @ 2100GMT

*SUP 1: $0.7916 - 55-DMA 

*SUP 2: $0.7891 - Bollinger band base 

*SUP 3: $0.7863 - Low Aug 24 

*SUP 4: $0.7807 - Monthly Low Aug 15

*COMMENTARY: Pressure on the daily bull channel base has taken its toll with an

aggressive break and close below that sees immediate pressure on the 55-DMA.

Bears continue to look for 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 continue to accumulate and weigh with bulls now needing a close

above $0.8037 to shift focus back to 2017 highs.

KIWI TECHS: Bears Need Close Below $0.7293

*RES 4: $0.7433 - High Sept 20 

*RES 3: $0.7377 - Hourly support Sept 20a now resistance 

*RES 2: $0.7364 - High Sept 21 

*RES 1: $0.7341 - Hourly resistance Sept 21

*PRICE: $0.7306 @ 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: Wednesday's lack of topside follow through has been followed up

with losses that leave the pair looking heavy and pressuring $0.7293. Bears

continue to look for 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 return focus to

$0.7433-58.

AUSSIE-KIWI TECHS: Bears Need Close Below NZ$1.0798

*RES 4: NZ$1.0994 - High Sept 18

*RES 3: NZ$1.0978 - High Sept 20

*RES 2: NZ$1.0940 - Hourly resistance Sept 20

*RES 1: NZ$1.0888 - Hourly resistance Sept 21

*PRICE: NZ$1.0843 @ 2100GMT

*SUP 1: NZ$1.0825 - 55-DMA

*SUP 2: NZ$1.0798 - Low Aug 16 

*SUP 3: NZ$1.0698 - 100-DMA

*SUP 4: NZ$1.0682 - 200-DMA

*COMMENTARY: Losses have defined this week with pressure now on the 55-DMA.

Bears look for a close below NZ$1.0798 to confirm a break of the 55-DMA and to

shift focus to 100 & 200-DMAs. The Bollinger base (NZ$1.0865) and studies

approaching O/S are less than ideal for bears. Resistance layers accumulating

adds weight to the bearish case with bulls needing a close above NZ$1.0888 to

ease immediate bearish pressure and above the 21-DMA to shift focus higher.

AUSSIE-YEN TECHS: Bearish Key Day Reversal

*RES 4: Y90.31 - 2017 High Sept 21 

*RES 3: Y89.73 - Hourly support Sept 20 now resistance 

*RES 2: Y89.50 - Alternating hourly support/resistance 

*RES 1: Y89.31 - Hourly resistance Sept 21

*PRICE: Y89.24 @ 2100GMT

*SUP 1: Y88.88 - Low Sept 21

*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: A bearish key day reversal following fresh 2017 highs is a concern

for bulls given daily studies looking to correct from O/B, the Bolli top

(Y89.71) limiting follow through and daily momentum divergence. bears now look

for a close below Y88.54 to pressure Y87.53-66. Layers of resistance are

accumulating with bulls needing a close above Y89.73 to ease renewed bearish

pressure and return focus to Y90.31-91.90.

EURO-AUSSIE TECHS: Pressure Returns To Key Supports 

*RES 4: A$1.5175 - High Aug 29

*RES 3: A$1.5093 - High Aug 30

*RES 2: A$1.5083 - Bollinger band top

*RES 1: A$1.5064 - High Sept 21

*PRICE: A$1.5050 @ 2100GMT

*SUP 1: A$1.4955 - 21-DMA 

*SUP 2: A$1.4880 - 100-DMA 

*SUP 3: A$1.4868 - 55-DMA 

*SUP 4: A$1.4790 - Low Sept 21

*COMMENTARY: Time spent below the 55 & 100-DMAs was brief with the pair finding

support around the 100 (A$1.4769)0 & 200 (A$1.4755) WMAs which provided the

catalyst for an aggressive rally and bullish close. Bulls now look for a close

above A$1.5093 to confirm focus on A$1.5172-1.5226 where 2017 highs are

situated. Bears now look for a close below the 21-DMA to ease pressure on

resistance layers and below A$1.4790 to target A$1.4521-65.

US DOLLAR-INDEX TECHS: 92.049 Support Key Today

*RES 4: 92.936 - Hourly resistance Aug 31 

*RES 3: 92.711 - High Sept 4 

*RES 2: 92.697 - High Sept 20 

*RES 1: 92.270 - Hourly resistance Sept 21

*PRICE: 92.182 @ 2130GMT

*SUP 1: 92.049 - High Sept 19

*SUP 2: 91.883 - Hourly resistance Sept 19 now support

*SUP 3: 91.526 - Low Sept 20

*SUP 4: 91.410 - Low Sept 11

*COMMENTARY: Bulls failed to capitalise on Wednesday's rally with the index

remaining capped ahead of the 92.697 resistance. The index is again looking a

little heavy with bears now looking for a close below 92.049 to shift immediate

focus back to 91.526 and overall focus back to 2017 lows. Resistance layers are

starting to build and weigh with bulls continuing to look for a close above

92.936 to shift focus to 93.337-347 where the 55-DMA (93.337) is situated.

EURO-DOLLAR TECHS: Channel Base Continues To Support

*RES 4: $1.2033 High Sept 20 

*RES 3: $1.1946 Hourly support Sept 19 now resistance 

*RES 2: $1.1984 Hourly support Sept 20 now resistance 

*RES 1: $1.1955 High Sept 21

*PRICE: $1.1939 @ 2030GMT

*SUP 1: $1.1928 Hourly resistance Sept 21 now support 

*SUP 2: $1.1891 Hourly support Sept 21 

*SUP 3: $1.1865 Daily Bull channel base 

*SUP 4: $1.1862 Low Sept 20

*COMMENTARY: The daily bull channel base continued to confirm significance with

support again emerging on dips following the aggressive sell-off Wednesday.

Bears still need a close below $1.1822 to shift initial focus to the 55-DMA

($1.1773) and overall focus to $1.1583-1.1658. Bulls now look for a close below

$1.1984 to shift focus back to $1.2033-1.2092 where the Bollinger top ($1.2037)

& 2017 highs are situated.

DOLLAR-YEN TECHS: Supported Around 200-DMA

*RES 4: Y115.50 Monthly High Mar 10 

*RES 3: Y114.49 Monthly High July 11 

*RES 2: Y113.70 Low July 11 now resistance 

*RES 1: Y112.85 Low July 13 now resistance

*PRICE: Y112.52 @ 2030GMT

*SUP 1: Y112.09 Hourly support Sept 20 

*SUP 2: Y111.88 High Sept 19 now support 

*SUP 3: Y111.54 Hourly resistance Sept 20 now support 

*SUP 4: Y111.09 Low Sept 20

*COMMENTARY: Gains have defined the week with the pair gaining traction above

the 200-DMA (Y112.18). Immediate focus is currently Y112.85 with overall focus

on tests of July monthly highs. O/B studies and the Bollinger top (Y112.38)

remain key concerns for bulls. Layers of support accumulating add to bullish

confidence with bears needing a close below Y111.88 to gain breathing room and

below Y110.99 to shift focus lower.

SPOT GOLD TECHS: Focus Shifts to 55 & 100-DMAs

*RES 4: $1316.0 - High Sept 20 

*RES 3: $1309.9 - Hourly support Sept 20 now resistance 

*RES 2: $1304.6 - Low Sept 18 now resistance 

*RES 1: $1295.1 - Hourly resistance Sept 21

*PRICE: $1290.6 @ 2130GMT

*SUP 1: $1288.0 - Low Sept 21 

*SUP 2: $1283.9 - Bollinger band base 

*SUP 3: $1281.4 - 55-DMA 

*SUP 4: $1267.5 - 100-DMA

*COMMENTARY: Pressure on the 21-DMA took its toll with closes below resulting in

a close below $1294.4 with immediate focus shifting to 55 & 100-DMAs. Bears now

look for a close below the 200-DMA ($1244.4) to initially pressure the daily

bull channel base ($1234.8). The Bollinger base is the key concern for bears

with potential to limit follow through. Bulls now need a close above $1304.6 to

gain breathing room and above $1320.0 to shift immediate focus to $1342.1.

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

[TOPICS: MTABLE]