MNI Asian Morning FX Technical Analysis

3 October 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: $0.7743-93 Support Region Key

*RES 4: $0.7940 - 55-DMA

*RES 3: $0.7907 - Hourly support Sept 22 now resistance

*RES 2: $0.7883 - Hourly resistance Sept 27 

*RES 1: $0.7861 - High Sept 28

*PRICE: $0.7834 @ 2000GMT

*SUP 1: $0.7793 - Low Oct 2 

*SUP 2: $0.7781 - Low July 17, 21-WMA 

*SUP 3: $0.7767 - 100-DMA 

*SUP 4: $0.7743 - High July 13 now support

*COMMENTARY: Consolidation below the 55-DMA has seen the pair trade at fresh

3mth lows before finding support ahead of the 21-WMA and 100-DMA which is a

concern for bear given daily studies looking to correct from O/S. Bears look for

a close below $0.7743 to confirm breaks of key MAs and to shift focus to the

200-DMA ($0.7652). Bulls now look for a close above $0.7861 to gain breathing

room and above the 21-DMA ($0.7960) to shift focus back to $0.8036-0.8125.

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: $0.7250 - 21-DMA

*PRICE: $0.7199 @ 2000GMT

*SUP 1: $0.7166 - Low Sept 27

*SUP 2: $0.7151 - Bollinger band base

*SUP 3: $0.7150 - 200-DMA

*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. Bulls still need a close above $0.7252 to

confirm breaks of 21 & 200-DMAs, easing bearish pressure and above $0.7296 to

return focus to $0.7377-0.7458.

AUSSIE-KIWI TECHS: NZ$1.0798 & NZ$1.1025 Levels Remain 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$1.0876 @ 2000GMT

*SUP 1: NZ$1.0848 - Low Oct 2

*SUP 2: NZ$1.0821 - Low Sept 21

*SUP 3: NZ$1.0798 - Low Aug 16

*SUP 4: NZ$1.0788 - Bollinger band base

*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$1.0697-1.0710 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$1.0974) and shift focus back to 2017 highs.

AUSSIE-YEN TECHS: Bull Channel Base Key Support

*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: Y88.24 @ 2000GMT

*SUP 1: Y87.92 - Low Sept 29

*SUP 2: Y87.75 - 55-DMA

*SUP 3: Y87.33 - Daily Bull channel base

*SUP 4: Y86.54 - Low Sept 6

*COMMENTARY: A bearish key day reversal following fresh 2017 highs in recent

weeks has been followed up with losses that see pressure returned to Y87.33-75

where the bull channel base and 55-DMA are situated. Bears need a close below

the bull channel base to shift focus to Y85.45-86.56 where 100 & 200-DMAs are

noted. Bulls still need a close above Y88.48 to gain breathing room and above

Y89.05 to shift focus back to Y89.73-90.31.

EURO-AUSSIE TECHS: Remains Capped Ahead Of A$1.5109 

*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$1.5090 - Hourly resistance Sept 29

*PRICE: A$1.4992 @ 2000GMT

*SUP 1: A$1.4948 - 21-DMA 

*SUP 2: A$1.4894 - 100-DMA 

*SUP 3: A$1.4886 - 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 still lacking. 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 55-DMA to return pressure

to key supports and below the A$1.4790 support to target A$1.4537-65 where the

200-DMA (A$1.4537) is located.

US DOLLAR-INDEX TECHS: Bulls Need Close Above 93.762

*RES 4: 94.476 - Low July 18 now resistance 

*RES 3: 94.145 - Monthly High Aug 16 

*RES 2: 93.762 - High Aug 18 

*RES 1: 93.666 - High Sept 28

*PRICE: 93.575 @ 2030GMT

*SUP 1: 93.434 - Hourly support Oct 2

*SUP 2: 93.307 - Hourly support Oct 2a

*SUP 3: 93.083 - Hourly support Sept 29

*SUP 4: 93.000 - 55-DMA

*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. Layers of support are accumulating with bears needing a close

below 92.898 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: Bears Focused On $1.1583-1.1661

*RES 4: $1.1862 Low Sept 20 now resistance 

*RES 3: $1.1833 Low Sept 25 now resistance 

*RES 2: $1.1793 Hourly resistance Oct 2 

*RES 1: $1.1768 Hourly support Oct 2 now resistance

*PRICE: $1.1742 @ 1930GMT

*SUP 1: $1.1730 Low Oct 2 

*SUP 2: $1.1709 Low Aug 18 

*SUP 3: $1.1661 Low Aug 17 

*SUP 4: $1.1611 Low July 26

*COMMENTARY: Bulls failed to trouble $1.1862 Friday with the pair looking a

little heavy. Bulls continue to look for a close above $1.1862 to hint at a move

back to $1.2033-92 with above the 21-DMA ($1.1899) to confirm. While $1.1862

caps bears retain the upper hand and remain focused on $1.1583-1.1661 with a

close below $1.1709 to add weight. The Bollinger base ($1.1734) is the key

concern for bears and recently limited follow through.

DOLLAR-YEN TECHS: Bears Need Close Below 200-DMA

*RES 4: Y113.91 Bollinger band top 

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

*RES 2: Y113.26 High Sept 27 

*RES 1: Y113.06 High Oct 2

*PRICE: Y112.64 @ 1930GMT

*SUP 1: Y112.42 Hourly support Sept 29 

*SUP 2: Y112.22 Low Sept 29 

*SUP 3: Y112.00 200-DMA 

*SUP 4: Y111.92 Hourly support Sept 26

*COMMENTARY: Topside follow through above Y112.85 is still lacking which is a

concern with daily studies at O/B levels, momentum divergence and the Bollinger

top recently capping. In saying that, bulls are focused on 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 Y110.52-111.03.

SPOT GOLD TECHS: $1281.2-1296.4 Resistance Region Key

*RES 4: $1296.4 - High Sept 27 

*RES 3: $1290.3 - High Sept 29 

*RES 2: $1281.2 - Hourly support Sept 29 now resistance 

*RES 1: $1277.6 - Hourly resistance Oct 2

*PRICE: $1272.8 @ 2030GMT

*SUP 1: $1271.2 - Low Oct 2 

*SUP 2: $1265.3 - High Aug 8 now support 

*SUP 3: $1249.9 - Monthly Low Aug 8, 200-DMA 

*SUP 4: $1243.8 - Low July 26

*COMMENTARY: Gold remains heavy with immediate focus on $1265.3-1271.9 where the

100-DMA is located. Bears look for a close below $1265.3 to confirm a break of

the 100-DMA and shift focus to $1238.6-1250.0 where the bull channel base and

200-DMA are situated. Resistance layers are building with bulls needing a close

above $1281.2 to gain breathing room and above 1296.4 to shift focus back to

$1312.5-1320.0.

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

[TOPICS: MTABLE]