MNI Asian Morning FX Technical Analysis

25 September 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Flirting With 55-DMA

*RES 4: $0.8101 - High Sept 20 

*RES 3: $0.8068 - Hourly support Sept 20a now resistance 

*RES 2: $0.8036 - High Sept 21

*RES 1: $0.7986 - High Sept 22

*PRICE: $0.7944 @ 2130GMT

*SUP 1: $0.7907 - Hourly support Sept 22 

*SUP 2: $0.7895 - 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 took its toll with an

aggressive break and close below that sees the pair flirting with the 55-DMA

($0.7929). Bears now look for a close below $0.7907 to confirm a break of the

55-DMA ending 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 $0.8036 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: $0.7344 - High Sept 22

*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$1.0896 - High Sept 22

*PRICE: NZ$1.0867 @ 2100GMT

*SUP 1: NZ$1.0841 - 55-DMA

*SUP 2: NZ$1.0798 - Low Aug 16 *SUP 3: NZ$1.0701 - 100-DMA

*SUP 4: NZ$1.0686 - 200-DMA

*COMMENTARY: Losses defined last 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$1.0834) 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$1.0896 to ease immediate

bearish pressure and above the 21-DMA (NZ$1.1005 to shift focus higher.

AUSSIE-YEN TECHS: Downside Follow Through Lacking

*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: Y89.40 - High Sept 22

*PRICE: Y89.21 @ 2100GMT

*SUP 1: Y88.75 - Hourly support Sept 22

*SUP 2: Y88.43 - Low Sept 22

*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 was a concern

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

(Y89.93) limiting follow through and daily momentum divergence. Bears now look

for a close below Y88.33 to pressure Y87.68-87.05. 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: Topside Follow Through Lacking 

*RES 4: A$1.5226 - 2017 High June 1

*RES 3: A$1.5175 - High Aug 29

*RES 2: A$1.5109 - High Sept 22

*RES 1: A$1.5035 - Hourly resistance Sept 22

*PRICE: A$1.4970 @ 2100GMT

*SUP 1: A$1.4951 - 21-DMA 

*SUP 2: A$1.4884 - 100-DMA 

*SUP 3: A$1.4868 - 55-DMA 

*SUP 4: A$1.4790 - Low Sept 21

*COMMENTARY: The pair continues to trade sideways in a broad A$1.4732-1.5172

range with topside and bottomside follow through lacking last week. Bulls now

look for a close above A$1.5109 to confirm focus on A$1.5172-1.5226 where 2017

highs are situated. Bears continue to 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: Pressuring Channel Top

*RES 4: 92.936 - Hourly resistance 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: 92.421 @ 2130GMT

*SUP 1: 92.270 - Hourly resistance Sept 21 now support

*SUP 2: 92.105 - Hourly resistance Sept 22 now support

*SUP 3: 91.781 - Low Sept 22

*SUP 4: 91.526 - Low Sept 20

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

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

the bear channel top (92.536) with layers of resistance 92.697-93.347 key this

week. Bulls need a close above 92.697 to shift focus to 93.202-347 where the

55-DMA is located. While 92.697 caps bears remain focused on 2017 lows with a

close below 91.526 to add weight to the bearish case.

EURO-DOLLAR TECHS: 55-DMA Support Key This Week

*RES 4: $1.2045 Hourly resistance Sept 8 

*RES 3: $1.2033 High Sept 20 

*RES 2: $1.2004 High Sept 22 

*RES 1: $1.1957 Hourly support Sept 22 now resistance

*PRICE: $1.1903 @ 2030GMT

*SUP 1: $1.1891 Hourly support Sept 21 

*SUP 2: $1.1877 Daily Bull channel base 

*SUP 3: $1.1862 Low Sept 20 

*SUP 4: $1.1834 Low Sept 14

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

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

55-DMA is key support this week with bears needing a close below to confirm a

break of the $1.1822 and the bull channel base, shifting focus to

$1.1583-1.1658. Bulls now look for a close above $1.1957 to retain focus on

$1.2027-1.2092 where the Bollinger top ($1.2027) & 2017 highs are situated.

DOLLAR-YEN TECHS: Bulls Need Close Above Y112.39

*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: Y112.39 Hourly support Sept 21 now resistance

*PRICE: Y112.25 @ 2030GMT

*SUP 1: Y111.54 Hourly resistance Sept 20 now support 

*SUP 2: Y111.10 100-DMA 

*SUP 3: Y110.99 Hourly support Sept 18 a 

*SUP 4: Y110.58 55-DMA

*COMMENTARY: Bulls have so far failed to gain traction above the 200-DMA

(Y112.12) seeing the pair dip back towards Y111.54. Bears need a close below

this level to confirm a shift in focus to 55 & 100-DMAs and below the 55-DMA to

hint at a move back to 2017 lows. Bulls now need a close above Y112.39 to retain

focus on Y112.85 and overall focus on tests of July monthly highs. O/B studies

and the Bollinger top (Y112.86) remain key concerns for bulls.

SPOT GOLD TECHS: $1304.6-1320.0 Resistance Region Key

*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: $1297.1 @ 2130GMT

*SUP 1: $1288.0 - Low Sept 21 

*SUP 2: $1286.1 - Bollinger band base 

*SUP 3: $1283.0 - 55-DMA 

*SUP 4: $1268.2 - 100-DMA

*COMMENTARY: Bears have so far failed to capitalise on the close below $1294.4

and focus shifting to 55 & 100-DMAs ($1268.2-1283.0) with gold regaining some

lost ground Friday. O/S studies and the Bollinger base are concerns for bears.

Initial resistance is noted at $1304.6 with bulls needing a close above to ease

immediate bearish pressure and above $1320.0 to shift focus to $1334.8-1342.1.

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

[TOPICS: MTABLE]