MNI Asian Morning FX Technical Analysis

28 September 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bears Focused On $0.7781-0.7807

*RES 4: $0.7986 - High Sept 22

*RES 3: $0.7949 - High Sept 26

*RES 2: $0.7907 - Hourly support Sept 22 now resistance

*RES 1: $0.7883 - Hourly resistance Sept 27

*PRICE: $0.7853 @ 2130GMT

*SUP 1: $0.7835 - Low Sept 27 

*SUP 2: $0.7807 - Monthly Low Aug 15 

*SUP 3: $0.7781 - Low July 17 

*SUP 4: $0.7753 - 100-DMA

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

been followed up with consolidation below the 55-DMA ($0.7937) and bears now

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

($0.7869) is the key concern for bears and currently limits follow through.

Layers of resistance are weighing with bulls needing a close above $0.7907 to

gain breathing room and above $0.8036 to shift focus to 2017 highs.

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: $0.7239 - High Sept 27

*PRICE: $0.7209 @ 2100GMT

*SUP 1: $0.7167 - Low Sept 26

*SUP 2: $0.7145 - 200-DMA

*SUP 3: $0.7136 - Bollinger band base

*SUP 4: $0.7128 - Low Aug 31

*COMMENTARY: A lack of topside follow through has resulted in pressure returning

to the $0.7128-0.7167 support region where the 200-DMA is situated. Bears

continue to look for a close below $0.7128 to confirm a break of the 200-DMA and

shift overall focus to tests of 2017 lows. Daily studies are well placed for a

fresh leg lower. Bulls still need a close above $0.7252 to ease bearish pressure

and above $0.7296 to return focus to $0.7377-0.7458.

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

*RES 4: NZ$1.0978 - High Sept 20

*RES 3: NZ$1.0954 - High Sept 27

*RES 2: NZ$1.0942 - Hourly resistance Sept 28a

*RES 1: NZ$1.0911 - Hourly resistance Sept 27

*PRICE: NZ$1.0890 @ 2100GMT

*SUP 1: NZ$1.0864 - Low Sept 27

*SUP 2: NZ$1.0854 - 55-DMA

*SUP 3: NZ$1.0798 - Low Aug 16 

*SUP 4: NZ$1.0707 - 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 and initially target NZ$1.06980-1.0707 although

the topside failures ahead of NZ$1.0994 ensure pressure remains on key supports.

Modestly O/S studies looking to correct remain the key concern for bears. Bulls

continue to look for a close above NZ$1.1025 to confirm a break of the 21-DMA

and shift focus back to 2017 highs.

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: Y89.05 - Alternating hourly support/resistance 

*RES 1: Y88.90 - High Sept 27

*PRICE: Y88.56 @ 2100GMT

*SUP 1: Y88.23 - Low Sept 26

*SUP 2: Y88.16 - 21-DMA

*SUP 3: Y87.73 - 55-DMA

*SUP 4: Y87.14 - 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

(Y89.91) limiting follow through and daily momentum divergence. Immediate focus

is on Y87.73-88.23 where the 21 & 55-DMAs are located. Bulls still 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: Broad Sideways Trading Persists 

*RES 4: A$1.5093 - High Aug 30

*RES 3: A$1.5064 - High Sept 21

*RES 2: A$1.5055 - Bollinger band top

*RES 1: A$1.4990 - High Sept 27

*PRICE: A$1.4958 @ 2100GMT

*SUP 1: A$1.4887 - 100-DMA 

*SUP 2: A$1.4868 - 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$1.4529-65. Daily studies remain at largely neutral levels

and giving few clues at present.

US DOLLAR-INDEX TECHS: Gaining Traction Above 55-DMA

*RES 4: 94.145 - Monthly High Aug 16 

*RES 3: 93.762 - High Aug 18 

*RES 2: 93.628 - High Aug 23 

*RES 1: 93.607 - High Sept 27

*PRICE: 93.411 @ 2130GMT

*SUP 1: 93.185 - Hourly support Sept 27

*SUP 2: 92.898 - Hourly support Sept 26

*SUP 3: 92.724 - High Sept 25 now support

*SUP 4: 92.433 - Hourly support Sept 25

*COMMENTARY: The close above the 55-DMA (93.115) Wednesday adds support to the

bullish case with immediate focus now on 94.145-476 where Aug highs are

situated. Bulls need a close above 94.476 to initially pressure the 100-DMA

(94.884) with overall focus shifting to 95.167-464. Layers of support are

building with bears now needing a close below 97.724 to confirm an easing of

bullish pressure and to shift focus lower once more.

EURO-DOLLAR TECHS: $1.1810-62 Resistance Key

*RES 4: $1.1862 Low Sept 20 now resistance 

*RES 3: $1.1833 Low Sept 25 now resistance 

*RES 2: $1.1810 Hourly resistance Sept 27a 

*RES 1: $1.1777 Hourly resistance Sept 27

*PRICE: $1.1749 @ 2030GMT

*SUP 1: $1.1709 Low Aug 18 

*SUP 2: $1.1661 Low Aug 17 

*SUP 3: $1.1611 Low July 26 

*SUP 4: $1.1583 High July 18 now support

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

the pair gaining traction below the 55-DMA ($1.1803) and focus having shifted to

layers of support $1.1583-1.1661. The Bollinger base ($1.1781) 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 $1.1810 to

ease bearish pressure and above $1.1862 to shift focus higher.

DOLLAR-YEN TECHS: Bulls Focused On July Highs

*RES 4: Y114.49 Monthly High July 11 

*RES 3: Y113.70 Low July 11 now resistance 

*RES 2: Y112.31 Bollinger band top 

*RES 1: Y113.26 High Sept 27

*PRICE: Y112.79 @ 2030GMT

*SUP 1: Y112.65 Hourly support Sept 27 

*SUP 2: Y112.27 Hourly support Sept 27a 

*SUP 3: Y112.07 200-DMA 

*SUP 4: Y111.92 Hourly support Sept 26

*COMMENTARY: Topside follow through above Y112.85 has been a little lacking

which is a concern with daily studies at O/B levels, momentum divergence and the

Bollinger top capping. Bulls shift focus to tests of July highs with above

Y113.70 to add support to their case. Bears now look for a close below the

200-DMA to ease bullish pressure and below Y111.48 to confirm a shift in

pressure to key DMAs Y110.54-111.06.

SPOT GOLD TECHS: 

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

[TOPICS: MTABLE]