MNI Asian Morning FX Technical Analysis

9 October 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bulls Need Close Above $0.7798

*RES 4: $0.7888 - High Sept 27

*RES 3: $0.7840 - Hourly resistance Oct 5

*RES 2: $0.7798 - Hourly resistance Oct 6a

*RES 1: $0.7780 - Hourly resistance Oct 6

*PRICE: $0.7772 @ 2000GMT

*SUP 1: $0.7712 - High June 30 now support 

*SUP 2: $0.7667 - 200-DMA 

*SUP 3: $0.7635 - Low July 13 

*SUP 4: $0.7567 - Monthly Low July 6

*COMMENTARY: Pressure on the 21-WMA ($0.7793) & 100-DMA ($0.7785) took its toll

with a marginal close below Friday although follow through is a little lacking.

Daily studies looking to correct from O/S and the Bollinger base ($0.7737) are

key concerns for bears. Layers of resistance remain with bulls needing a close

above $0.7798 to gain breathing room and hint at a correction back to

$0.7888-0.7928 with above the 55-DMA ($0.7928) to target $0.8036-0.8125.

KIWI TECHS: $0.7123-55 Resistance Region Key

*RES 4: $0.7155 - 200-DMA 

*RES 3: $0.7146 - Low Oct 4 now resistance 

*RES 2: $0.7123 - Hourly resistance Oct 5 

*RES 1: $0.7095 - Hourly resistance Oct 6

*PRICE: $0.7058 @ 2000GMT

*SUP 1: $0.7050 - Hourly support Oct 9

*SUP 2: $0.7038 - Daily Bear channel base A

*SUP 3: $0.7035 - Low May 30

*SUP 4: $0.6985 - Low May 23

*COMMENTARY: A lack of topside follow through saw pressure maintained on the

200-DMA last week resulting a break lower and the pair looking heavy. Overall

focus has shifted to 2017 lows with bears initially focused on the

$0.6950-0.7038 region where channel bases are noted. Bulls now need a close

above $0.7123 to gain breathing room and above the 200-MDA to hint at a

correction back to $0.7226-79 where 21, 55 & 100-DMAs are noted.

AUSSIE-KIWI TECHS: Close Above NZ$1.1025 Targets 2017 High

*RES 4: NZ$1.1142 - 2017High Sept 1

*RES 3: NZ$1.1107 - High Sept 12

*RES 2: NZ$1.1057 - Hourly support Sept 15a now resistance

*RES 1: NZ$1.1025 - Hourly support Sept 15 now resistance

*PRICE: NZ$1.1011 @ 2000GMT

*SUP 1: NZ$1.0994 - High Sept 18 now support

*SUP 2: NZ$1.0944 - 21-DMA

*SUP 3: NZ$1.0925 - Hourly support Oct 3

*SUP 4: NZ$1.0900 - Hourly resistance Oct 3 now support

*COMMENTARY: The recovery from Sept lows has resulted in a gapping move higher

to start the new week with bulls needing a close above NZ$1.1025 to shift focus

to NZ$1.1107-42 where 2017 highs are located. Daily studies have room to move

before O/B becomes an issue. Support layers have been left in the wake with

bears now needing a close below NZ$1.0994 to gain breathing room and below the

55-DMA (NZ$1.0890) to shift focus back to NZ$1.0798-1.0821.

AUSSIE-YEN TECHS: Flirting With Bull Channel Base

*RES 4: Y88.74 - High Oct 5 

*RES 3: Y88.38 - Hourly resistance Oct 5a 

*RES 2: Y88.03 - Hourly resistance Oct 5 

*RES 1: Y87.63 - Hourly resistance Oct 6

*PRICE: Y87.52 @ 2000GMT

*SUP 1: Y87.38 - Low Oct 6

*SUP 2: Y87.28 - Bollinger band base

*SUP 3: Y86.54 - Low Sept 6

*SUP 4: Y86.48 - 100-DMA

*COMMENTARY: The close below the 55-DMA (Y87.70) Friday leaves the pair looking

heavy and flirting with the daily bull channel base (Y87.60). Bears look for a

close below Friday's low to confirm a break of the channel base and initially

focus on Y86.48-54 with overall focus on Y85.45-78 where the 200-DMA is found.

O/S studies are the key concern for bears. Bulls now need a close above Y88.03

to gain breathing room and above Y89.05 to shift focus back to Y89.73-90.31.

EURO-AUSSIE TECHS: A$1.4995 Support Now Key 

*RES 4: A$1.5226 - 2017 High June 1

*RES 3: A$1.5175 - High Aug 29

*RES 2: A$1.5128 - High Oct 6

*RES 1: A$1.5119 - Bollinger band top

*PRICE: A$1.5095 @ 2000GMT

*SUP 1: A$1.4995 - Hourly support Oct 5 

*SUP 2: A$1.4940 - Low Oct 5 

*SUP 3: A$1.4923 - 55-DMA 

*SUP 4: A$1.4896 - 100-DMA

*COMMENTARY: Bulls take comfort in the break of A$1.5109 Friday with focus now

on the A$1.5172-1.5226 region where 2017 highs are located. The Bollinger band

top (A$1.5119) remains the key concern for bulls with potential to limit follow

through. The A$1.4995 support is key this week. Bears need a close below

A$1.4995 to ease pressure on resistance layers and below the 100-DMA to shift

focus back to A$1.4790.

US DOLLAR-INDEX TECHS: Capped Ahead Of 100-DMA

*RES 4: 94.544 - 100-DMA 

*RES 3: 94.476 - Low July 18 now resistance 

*RES 2: 94.267 - High Oct 6 

*RES 1: 93.942 - Hourly support Oct 6 now resistance

*PRICE: 93.800 @ 2030GMT

*SUP 1: 93.702 - Hourly support Oct 5

*SUP 2: 93.579 - High Oct 4 now support

*SUP 3: 93.413 - Hourly support Oct 4

*SUP 4: 93.259 - Low Oct 4

*COMMENTARY: The lack of topside follow through and rejection ahead of the

100-DMA is a concern for bulls given O/B daily studies and increases the risk of

a correction back to 92.659-949 where 21 & 55-DMAs are located. Bears look for a

close below 93.579 to add weight to their case. Below the 21-DMA (92.659) is

needed to shift overall focus back to 2017 lows. Bulls now need a close above

the 100-DMA to initially target 95.167-464.

EURO-DOLLAR TECHS: $1.1862 Resistance Key This Week

*RES 4: $1.1846 21-DMA 

*RES 3: $1.1833 55-DMA 

*RES 2: $1.1788 High Oct 4 

*RES 1: $1.1746 Hourly support Oct 4 now resistance

*PRICE: $1.1717 @ 1930GMT

*SUP 1: $1.1661 Low Aug 17 

*SUP 2: $1.1651 Daily Bear channel base 

*SUP 3: $1.1611 Low July 26 

*SUP 4: $1.1599 100-DMA

*COMMENTARY: Follow through was lacking on fresh lows for the week Friday with

the pair finding support and bouncing ahead of the daily bear channel base and

layers of support $1.1583-1.1661. Below $1.1583 is needed to see bears shift

focus to $1.1477. Bulls now need a close above $1.1746 to gain breathing room

and above $1.1788 to hint at a correction back to $1.1833-62 where 21 & 55-DMAs

are noted.

DOLLAR-YEN TECHS: Looking A Little Heavy

*RES 4: Y113.70 Low July 11 now resistance

*RES 3: Y113.44 High Oct 6 

*RES 2: Y113.18 Hourly support Oct 6 now resistance 

*RES 1: Y112.89 Hourly resistance Oct 6

*PRICE: Y112.71 @ 1930GMT

*SUP 1: Y112.33 Low Oct 4 

*SUP 2: Y112.22 Low Sept 29 

*SUP 3: Y11.89 200-DMA 

*SUP 4: Y11.85 21-DMA

*COMMENTARY: The lack of topside follow through continued Friday with the break

above Y113.26 capped ahead of Y113.70. Bulls need a close above 113.70 to

confirm focus on July highs (Y114.49). There is an increased risk of a dip back

towards the Y111.85-112.33 region with below the 21-DMA now needed to add weight

to the case for a test of Y110.62-111.09 where 55 & 100-DMAs are noted. Below

the 55-DMA is needed hint at a move to 2017 lows with below Y109.52 confirming.

SPOT GOLD TECHS: Bulls Ned Close Above $1282.3

*RES 4: $1296.4 - High Sept 27 

*RES 3: $1292.0 - 55-DMA 

*RES 2: $1290.3 - High Sept 29 

*RES 1: $1282.3 - High Oct 4

*PRICE: $1275.3 @ 2030GMT

*SUP 1: $1270.7 - Hourly support Oct 6 

*SUP 2: $1266.3 - Hourly resistance Oct 6 now support 

*SUP 3: $1260.5 - Low Oct 6 

*SUP 4: $1253.9- Bollinger band base

*COMMENTARY: The lack of follow through on fresh 2mth lows Friday was less than

ideal given daily studies looking to correct from O/S adding support to the case

for a correction. Bulls continue to look for a close above $1282.3 to gain

breathing room and above the 21-DMA ($1299.7) to shift initial focus back to

$1313.6-1320.0. While $1282.3 caps bears remain focused on $1240.9-1252.4 where

the bull channel base and 200-DMA are situated.

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

[TOPICS: MTABLE]