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MNI Asian Morning FX Technical Analysis

29 September 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: Bulls Need Close Above $0.7907
*RES 4: $0.7949 - High Sept 26
*RES 3: $0.7939 - 55-DMA
*RES 2: $0.7907 - Hourly support Sept 22 now resistance
*RES 1: $0.7883 - Hourly resistance Sept 27
*PRICE: $0.7853 @ 2130GMT
*SUP 1: $0.7843 - Hourly resistance Sept 28 now support 
*SUP 2: $0.7798 - Low Sept 28 
*SUP 3: $0.7781 - Low July 17 
*SUP 4: $0.7758 - 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 and bears now focused on
$0.7781 July 27 lows. The lack of follow through Thursday is less than ideal for
bears as daily studies approach O/S levels. In saying that, bulls still need a
close above $0.7907 to gain breathing room and above the 21-DMA ($0.7972) to
hint at a move back to 2017 highs with above $0.8036 confirming.
KIWI TECHS: Finding Support Ahead Of 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: $0.7229 @ 2100GMT
*SUP 1: $0.7166 - Low Sept 27
*SUP 2: $0.7147 - 200-DMA
*SUP 3: $0.7139 - Bollinger band base
*SUP 4: $0.7128 - Low Aug 31
*COMMENTARY: A lack of topside follow through resulted in pressure returning to
the $0.7128-0.7166 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: NZ$1.0798 & NZ$1.1025 Levels Key
*RES 4: NZ$1.0954 - High Sept 27
*RES 3: NZ$1.0942 - Hourly resistance Sept 28a
*RES 2: NZ$1.0911 - Hourly resistance Sept 27
*RES 1: NZ$1.0888 - Hourly resistance Sept 28
*PRICE: NZ$1.0859 @ 2100GMT
*SUP 1: NZ$1.0837 - Low Sept 28
*SUP 2: NZ$1.0813 - Bollinger band base
*SUP 3: NZ$1.0798 - Low Aug 16 
*SUP 4: NZ$1.0708 - 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
(NZ$1.0997) and shift focus back to 2017 highs.
AUSSIE-YEN TECHS: Bears Need Close Below 55-DMA
*RES 4: Y89.73 - Hourly support Sept 20 now resistance 
*RES 3: Y89.05 - Alternating hourly support/resistance 
*RES 2: Y88.90 - High Sept 27 
*RES 1: Y88.48 - Hourly resistance Sept 28
*PRICE: Y88.27 @ 2100GMT
*SUP 1: Y88.16 - Hourly support Sept 28
*SUP 2: Y87.99 - Low Sept 28
*SUP 3: Y87.74 - 55-DMA
*SUP 4: Y87.20 - 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
(Y89.89) limiting follow through and daily momentum divergence. Immediate focus
is on Y87.74-88.16 where the 55-DMA is located with below the 55-DMA to pressure
the bull channel base. 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$1.5109 - High Sept 22
*RES 3: A$1.5093 - High Aug 30
*RES 2: A$1.5074 - High Sept 28
*RES 1: A$1.5049 - Bollinger band top
*PRICE: A$1.5000 @ 2100GMT
*SUP 1: A$1.4990 - High Sept 27 now support 
*SUP 2: A$1.4890 - 100-DMA 
*SUP 3: A$1.4873 - 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 follow through lacking again lacking this week. Bulls
continue to 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$1.4532-65. Daily studies remain at largely neutral
levels and giving few clues at present.
US DOLLAR-INDEX TECHS: 92.724-93.067 Support Key
*RES 4: 94.145 - Monthly High Aug 16 
*RES 3: 93.762 - High Aug 18 
*RES 2: 93.666 - High Sept 28 
*RES 1: 93.328 - Hourly resistance Sept 28
*PRICE: 93.175 @ 2130GMT
*SUP 1: 93.067 - 55-DMA
*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: Bulls took comfort in the close above the 55-DMA Wednesday but
hesitation ahead of the 93.762 resistance with daily studies at O/B levels is
less than ideal. The 55-DMA is initial support with bears needing a close below
to ease bullish pressure and below 97.724 to shift focus back to 91.526-781.
Bulls look for a close above 93.762 to add support to the case for a test of the
94.145-476 region where Aug highs are situated.
EURO-DOLLAR TECHS: $1.1810-62 Resistance Key
*RES 4: $1.1891 Hourly support Sept 21 now resistance 
*RES 3: $1.1862 Low Sept 20 now resistance 
*RES 2: $1.1833 Low Sept 25 now resistance 
*RES 1: $1.1810 Hourly resistance Sept 27a, 55-DMA
*PRICE: $1.1784 @ 0430GMT
*SUP 1: $1.1759 Hourly support Sept 28 
*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 with bears taking comfort in the pair
gaining traction below the 55-DMA and focus having shifted to layers of support
$1.1583-1.1661. The Bollinger base ($1.1764) is the key concern for bears and
currently limits follow through. Layers of resistance are adding to bearish
confidence with bulls needing a close above $1.1810 to ease bearish pressure and
above $1.1862 to shift focus higher.
DOLLAR-YEN TECHS: Below 200-DMA To Ease Bullish Pressure
*RES 4: Y113.70 Low July 11 now resistance 
*RES 3: Y113.52 Bollinger band top 
*RES 2: Y113.26 High Sept 27 
*RES 1: Y112.86 Hourly resistance Sept 28
*PRICE: Y112.39 @ 2030GMT
*SUP 1: Y112.27 Hourly support Sept 27a 
*SUP 2: Y112.04 200-DMA 
*SUP 3: Y111.92 Hourly support Sept 26 
*SUP 4: Y111.48 Low Sept 25
*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 have shifted focus to tests of July highs with
above Y113.70 to add support to their case. Bears continue to look for a close
below the 200-DMA to ease bullish pressure and below Y111.48 to confirm a shift
in focus to key DMAs Y110.52-111.05.
SPOT GOLD TECHS: Overall Focus On $1236.9-1250.0
*RES 4: $1313.6 - High Sept 26 
*RES 3: $1304.6 - Alternating daily support/resistance 
*RES 2: $1296.4 - High Sept 27 
*RES 1: $1289.5 - Alternating daily support/resistance
*PRICE: $1283.6 @ 2130GMT
*SUP 1: $1281.8 - Hourly support Sept 28 
*SUP 2: $1277.6 - Low Sept 28 
*SUP 3: $1275.0 - Low Aug 25 
*SUP 4: $1270.9 - 100-DMA
*COMMENTARY: Bears take comfort in consolidation below the 55-DMA ($1288.5)
although the bounce from the day's lows combined with daily studies looking to
correct from O/S is less than ideal. In saying that, Bulls now need a close
above $1296.4 to gain breathing room and above $1320.0 to shift focus higher.
While $1296.4 caps bears remain focused on $1265.3-1275.0 where the 100-DMA is
noted. Below $1265.3 is needed to confirm focus on $1236.9-1250.0.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

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