MNI Asian Morning FX Technical Analysis

27 September 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Focus Shifts To $0.7781-0.7807

*RES 4: $0.8036 - High Sept 21

*RES 3: $0.7986 - High Sept 22

*RES 2: $0.7949 - High Sept 26

*RES 1: $0.7907 - Hourly support Sept 22 now resistance

*PRICE: $0.7886 @ 2130GMT

*SUP 1: $0.7858 - Low Sept 26 

*SUP 2: $0.7807 - Monthly Low Aug 15 

*SUP 3: $0.7781 - Low July 17 

*SUP 4: $0.7748 - 100-DMA

*COMMENTARY: The break and close below the daily bull channel base last week has

been followed up with the pair trading below the 55-DMA ($0.7933) and bears now

focused on $0.7781-0.7807 where Aug lows are located. The Bollinger base

($0.7888) is the key concern for bears and currently limits follow through.

Initial resistance is now noted at $0.7907 but bulls look for a close above

$0.7949 to ease bearish pressure and above $0.8036 to shift focus higher.

KIWI TECHS: Immediate Focus On 200-DMA

*RES 4: $0.7344 - High Sept 22 

*RES 3: $0.7296 - Hourly resistance Sept 25 

*RES 2: $0.7252 - Low Sept 25 now resistance 

*RES 1: $0.7227 - Hourly resistance Sept 26

*PRICE: $0.7201 @ 2100GMT

*SUP 1: $0.7167 - Low Sept 26

*SUP 2: $0.7144 - 200-DMA

*SUP 3: $0.7140 - Bollinger band base

*SUP 4: $0.7128 - Low Aug 31

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

below $0.7293 follow up with a close below 21 ($0.7248) & 100 ($0.7236) DMAs and

focus now on the 200-DMA. Daily studies remain well placed for losses with the

Bollinger band base the key concern for bears. Layers of resistance are weighing

with bulls now needing a close above $0.7252 to ease bearish pressure and above

$0.7296 to return focus to $0.7377-0.7458.

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$1.1006 - 21-DMA

*RES 2: NZ$1.0994 - High Sept 18

*RES 1: NZ$1.0978 - High Sept 20

*PRICE: NZ$1.0946 @ 2100GMT

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

*SUP 2: NZ$1.0848 - 55-DMA

*SUP 3: NZ$1.0798 - Low Aug 16 

*SUP 4: NZ$1.0705 - 100-DMA

*COMMENTARY: Bears have so far 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 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: Immediate Focus On Key DMAs

*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: Y88.52 @ 2100GMT

*SUP 1: Y88.23 - Low Sept 26

*SUP 2: Y88.10 - 21-DMA

*SUP 3: Y87.70 - 55-DMA

*SUP 4: Y87.07 - Daily Bull channel base

*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

(Y89.88) limiting follow through and daily momentum divergence. Immediate focus

is on Y87.70-88.10 where the 21 & 55-DMAs are located. Correcting O/B studies

are adding weight to the bearish case. In saying that, Bulls need a close above

Y89.05 to gain breathing room and above Y89.73 to 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$1.5069 - Bollinger band top

*RES 2: A$1.5064 - High Sept 21

*RES 1: A$1.4968 - High Sept 25

*PRICE: A$1.4947 @ 2100GMT

*SUP 1: A$1.4885 - 100-DMA 

*SUP 2: A$1.4866 - 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: 93.347 Resistance Now Key

*RES 4: 93.628 - High Aug 23 

*RES 3: 93.451 - Hourly resistance Aug 23 

*RES 2: 93.347 - High Aug 31 

*RES 1: 93.286 - High Sept 26

*PRICE: 93.032 @ 2130GMT

*SUP 1: 92.724 - High Sept 25 now support

*SUP 2: 92.433 - Hourly support Sept 25

*SUP 3: 92.206 - Low Sept 25

*SUP 4: 92.105 - Hourly resistance Sept 22 now support

*COMMENTARY: The close above the daily bear channel top has been followed up

with a pop above the 55-DMA (93.159) and bulls looking for a close above 93.347

to shift initial focus to 94.145 Aug highs. Layers of support continue to build

and add to bullish confidence with bears now needing a close below 92.724 to

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

EURO-DOLLAR TECHS: Dips Below 55-DMA

*RES 4: $1.1937 Low Sept 22 now resistance 

*RES 3: $1.1891 Hourly support Sept 21 now resistance 

*RES 2: $1.1862 Low Sept 20 now resistance 

*RES 1: $1.1833 Low Sept 25 now resistance

*PRICE: $1.1786 @ 2030GMT

*SUP 1: $1.1757 Low Sept 26 

*SUP 2: $1.1709 Low Aug 18 

*SUP 3: $1.1661 Low Aug 17 

*SUP 4: $1.1611 Low July 26

*COMMENTARY: Losses have defined the week so far with bears taking comfort in

the pair dipping below the 55-DMA ($1.1797) and focus having shifted to layers

of support $1.1583-1.1658. The Bollinger base ($1.1811) is the key concern for

bears and currently limits follow through. Layers of resistance are adding to

bearish confidence with bulls now needing a close above $1.1862 to ease

immediate bearish pressure.

DOLLAR-YEN TECHS: Focus Returns To Key DMAs

*RES 4: Y112.85 Low July 13 now resistance 

*RES 3: Y112.72 High Sept 21 

*RES 2: Y112.53 High Sept 25 

*RES 1: Y112.48 High Sept 26

*PRICE: Y112.26 @ 2030GMT

*SUP 1: Y111.92 Hourly support Sept 26 

*SUP 2: Y111.48 Low Sept 25 

*SUP 3: Y111.08 100-DMA 

*SUP 4: Y110.54 55-DMA

*COMMENTARY: Correcting O/B daily studies remain the key concern for bulls who

currently look for a close above Y112.85 to reconfirm a bullish bias that

initially targets Y114.50 July highs. Bears continue to look for a close below

Y111.48 to confirm a shift in pressure to key DMAs Y110.43-111.08 and below the

21-DMA (Y110.43) to shift overall focus back to 2017 lows. 

SPOT GOLD TECHS: $1320.0 Resistance Now Key

*RES 4: $1319.3 - 21-DMA 

*RES 3: $1316.0 - High Sept 20 

*RES 2: $1313.6 - High Sept 26 

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

*PRICE: $1295.6 @ 2130GMT

*SUP 1: $1293.4 - Low Sept 26 

*SUP 2: $1288.0 - Low Sept 21 

*SUP 3: $1286.1 - 55-DMA 

*SUP 4: $1275.0 - Low Aug 25

*COMMENTARY: The recovery from last week's low and ahead of the 55-DMA has

stalled ahead of the $1319.4-1320.0 resistance region and again looks heavy with

focus currently on $1267.2-1288.0 where 55 & 100-DMAs are situated. Bears look

for a close below $1267.2 to confirm focus on the 200-DMA ($1246.9). Bulls need

a close above $1320.0 to confirm a break of the 21-DMA and a shift in focus to

$1334.8-1342.1.

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

[TOPICS: MTABLE]