MNI Asian Morning FX Technical Analysis

26 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: $0.7938 @ 2130GMT

*SUP 1: $0.7907 - Hourly support Sept 22 

*SUP 2: $0.7902 - 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 Thursday that sees the pair flirting with the

55-DMA ($0.7929). Bears need a close below $0.7907 to confirm a break of the

55-DMA ending bullish hopes, shifting initial focus to $0.7863 and overall focus

to $0.7781-0.7807. Layers of resistance remain with bulls needing a close above

$0.8036 to shift focus back to 2017 highs.

KIWI TECHS: Focus Returns To Key DMAs

*RES 4: $0.7377 - Hourly support Sept 20a now resistance 

*RES 3: $0.7364 - High Sept 21 

*RES 2: $0.7344 - High Sept 22 

*RES 1: $0.7296 - Hourly resistance Sept 25

*PRICE: $0.7259 @ 2100GMT

*SUP 1: $0.7252 - Low Sept 25

*SUP 2: $0.7248 - Low Sept 18

*SUP 3: $0.7210 - Hourly support Sept 14

*SUP 4: $0.7182 - Low Sept 14

*COMMENTARY: A lack of topside follow through continues with the break back

below $0.7293 leaving the pair looking heavy once more and pressure back on key

DMAs. bears now look for a close below $0.7130 to confirm a break of the 21-DMA

and shift overall focus back to 2017 lows. Daily studies are well placed for

losses. Bulls now need a close above Bulls now need a close above $0.7296 to

gain breathing room.

AUSSIE-KIWI TECHS: NZ$1.0994-1.1025 Resistance Region Key

*RES 4: NZ$1.1025 - Hourly support Sept 15 now resistance

*RES 3: NZ$1.1008 - 21-DMA

*RES 2: NZ$1.0994 - High Sept 18

*RES 1: NZ$1.0978 - High Sept 20

*PRICE: NZ$1.0928 @ 2100GMT

*SUP 1: NZ$1.0896 - High Sept 22 now support

*SUP 2: NZ$1.0842 - 55-DMA

*SUP 3: NZ$1.0798 - Low Aug 16 

*SUP 4: NZ$1.0702 - 100-DMA

*COMMENTARY: Bears have failed to manage the close below NZ$1.0798 needed to

confirm a break of the 55-DMA with the bounce Monday easing immediate bearish

pressure. Bulls now look for a close above NZ$1.1025 to confirm a break of the

21-DMA and to shift focus back to 2017 highs. Daily studies correcting from O/S

support a correction higher. Bears now need a close back below NZ$1.0896 to ease

pressure on the 21-DMA.

AUSSIE-YEN TECHS: Looking A Little Heavy

*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: Y88.77 - Hourly resistance Sept 25

*PRICE: Y88.62 @ 2100GMT

*SUP 1: Y88.33 - Hourly resistance Sept 14 now support

*SUP 2: Y87.66 - Low Sept 15, 55-DMA

*SUP 3: Y87.01 - Daily Bull channel base

*SUP 4: Y86.54 - Low Sept 6

*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

(Y89.85) 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$1.5093 - High Aug 30

*RES 3: A$1.5080 - Bollinger band top

*RES 2: A$1.5064 - High Sept 21

*RES 1: A$1.4956 - Hourly resistance Sept 25

*PRICE: A$1.4926 @ 2100GMT

*SUP 1: A$1.4883 - 100-DMA 

*SUP 2: A$1.4867 - 55-DMA 

*SUP 3: A$1.4790 - Low Sept 21 

*SUP 4: A$1.4755 - 200-WMA

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

range with topside and bottom side 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 A$1.4790

support to target A$1.4521-65. Daily studies are at largely neutral levels and

giving few clues at present.

US DOLLAR-INDEX TECHS: Focus Shifts To 55-DMA

*RES 4: 93.347 - High Aug 31 

*RES 3: 93.207 - 55-DMA 

*RES 2: 92.936 - Hourly resistance Aug 31 

*RES 1: 92.724 - High Sept 25

*PRICE: 92.671 @ 2130GMT

*SUP 1: 92.433 - Hourly support Sept 25

*SUP 2: 92.206 - Low Sept 25

*SUP 3: 92.105 - Hourly resistance Sept 22 now support

*SUP 4: 91.781 - Low Sept 22

*COMMENTARY: Pressure on the daily bear channel top has taken its toll with a

close above that sees focus shift to 92.936-93.347 where the 55-DMA is situated.

Bulls now look for a close above 93.347 to shift initial focus to 94.145 Aug

highs. Daily studies have room to move before O/B becomes an issue. Layers of

support are building with bears needing a close below 92.433 to ease bullish

pressure and below 92.105 to return pressure to 91.410-781.

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

*RES 4: $1.1957 Hourly support Sept 22 now resistance 

*RES 3: $1.1937 Low Sept 22 now resistance 

*RES 2: $1.1891 Hourly support Sept 21 now resistance 

*RES 1: $1.1862 Low Sept 20 now resistance

*PRICE: $1.1846 @ 2030GMT

*SUP 1: $1.1833 Low Sept 25 

*SUP 2: $1.1822 Low Aug 31 

*SUP 3: $1.1791 55-DMA 

*SUP 4: $1.1709 Low Aug 18

*COMMENTARY: Pressure on the daily bull channel base has resulted in a break and

likely close below with immediate pressure on $1.1791-1.1822 where the 55-DMA is

noted. Bears need a close below the 55-DMA to confirm a break of $1.1822 and the

bull channel base, shifting focus to $1.1583-1.1658. Bulls now need a close

above $1.1891 to gain breathing room and above $1.1957 to retain focus on

$1.2031-1.2092 where the Bollinger top & 2017 highs are situated.

DOLLAR-YEN TECHS: Focus Returns To Key DMAs

*RES 4: Y112.72 High Sept 21 

*RES 3: Y112.53 High Sept 25 

*RES 2: Y112.33 Hourly resistance Sept 25 

*RES 1: Y111.94 Hourly support Sept 25 now resistance

*PRICE: Y111.67 @ 2030GMT

*SUP 1: Y111.48 Low Sept 25 

*SUP 2: Y111.09 100-DMA 

*SUP 3: Y110.57 55-DMA 

*SUP 4: Y110.28 21-DMA

*COMMENTARY: Failure to gain traction above the 200-DMA (Y112.12) leaves the

pair looking heavy and focus back on key DMAs Y110.28-111.09. Bears now look for

a close below to shift immediate focus to Y109.45 and overall focus to tests of

2017 lows. Daily studies correcting from O/B add weight to the bearish case.

Bulls now need a close above Y111.94 to gain breathing room and above Y112.85 to

reconfirm a bullish bias that initially targets Y114.50 July highs.

SPOT GOLD TECHS: Above The 21-DMA To Shift Focus Higher

*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: $1310.9 @ 2130GMT

*SUP 1: $1304.6 - Alternating daily support/resistance 

*SUP 2: $1298.8 - High Sept 22 now support 

*SUP 3: $1288.0 - Low Sept 21 

*SUP 4: $1284.7 - 55-DMA

*COMMENTARY: Failure to capitalise on the close below $1294.4 has resulted in a

correction to start the new week and an easing of bearish pressure. Focus now

shifts to the 21-DMA ($1220.1) with bulls needing a close above to shift

immediate focus to $1334.8-1342.1 and overall focus to 2017 highs. Layers of

support are accumulating with bears now needing a close below $1298.8 to return

pressure to the 55-DMA.

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

[TOPICS: MTABLE]