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Free AccessMNI Asian Morning FX Technical Analysis
11 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: $0.7788 - 100-DMA
*PRICE: $0.7783 @ 2000GMT
*SUP 1: $0.7772 - Hourly support Oct 10
*SUP 2: $0.7733 - Low Oct 6
*SUP 3: $0.7712 - High June 30 now support
*SUP 4: $0.7670 - 200-DMA
*COMMENTARY: Pressure on the 21-WMA ($0.7793) & 100-DMA took its toll with a
marginal close below Friday although follow through has been lacking. Daily
studies looking to correct from O/S and the Bollinger base ($0.7721) remain 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 $0.7888-0.7925
with above the 55-DMA ($0.7925) to target $0.8036-0.8125.
KIWI TECHS: $0.7095-0.7156 Resistance Region Key
*RES 4: $0.7156 - 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: $0.7074 @ 2000GMT
*SUP 1: $0.7055 - Low Oct 9
*SUP 2: $0.7031 - Low May 30
*SUP 3: $0.6985 - Low May 23
*SUP 4: $0.6950 - High May 18 now support
*COMMENTARY: A lack of topside follow through saw pressure 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 $0.6950-0.7035. Bulls need
a close above $0.7095 to gain breathing room and above the 200-DMA to hint at a
correction back to $0.7218-73 where 21, 55 & 100-DMAs are noted. O/S studies and
the Bollinger base ($0.7051) are key concerns for bears.
AUSSIE-KIWI TECHS: Bulls Need Close Above NZ$1.1025
*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$1.1002 @ 2000GMT
*SUP 1: NZ$1.0995 - Hourly support Oct 10
*SUP 2: NZ$1.0944 - Low Oct 9
*SUP 3: NZ$1.0938 - 21-DMA
*SUP 4: NZ$1.0925 - Hourly support Oct 3
*COMMENTARY: The recovery from Sept lows resulted in a gapping move higher
Monday only to remain capped ahead of NZ$1.1025. Bulls need a close above
NZ$1.1025 to shift focus to NZ$1.1107-42 where 2017 highs are located. Support
layers have been left in the wake with bears now needing a close below the
21-DMA to gain breathing room and below the 55-DMA (NZ$1.0894) to shift focus
back to NZ$1.0798-1.0824.
AUSSIE-YEN TECHS: Looking to Gain Traction Below Bull Channel Base
*RES 4: Y88.38 - Hourly resistance Oct 5a
*RES 3: Y88.03 - Hourly resistance Oct 5
*RES 2: Y87.78 - High Oct 10
*RES 1: Y87.57 - Hourly support Oct 10 now resistance
*PRICE: Y87.45 @ 2000GMT
*SUP 1: Y87.23 - Low Oct 10
*SUP 2: Y87.18 - Bollinger band base
*SUP 3: Y86.54 - Low Sept 6
*SUP 4: Y86.52 - 100-DMA
*COMMENTARY: The close below the 55-DMA (Y87.67) Friday left the pair looking
heavy and flirting with the daily bull channel base (Y87.73). Y87.23 to confirm
a break of the channel base and initially focus on Y86.52-54 with overall focus
on Y85.45-79 where the 200-DMA is found. O/S studies are the key concern for
bears. Bulls 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: Bulls Focused On 2017 High
*RES 4: A$1.5424 - Daily Bull channel top
*RES 3: A$1.5364 - High June 16 2016
*RES 2: A$1.5298 - High June 20 2016
*RES 1: A$1.5226 - 2017 High June 1
*PRICE: A$1.5172 @ 2000GMT
*SUP 1: A$1.5104 - Low Oct 10
*SUP 2: A$1.5079 - Hourly support Oct 9a
*SUP 3: A$1.4995 - Hourly support Oct 5
*SUP 4: A$1.4940 - Low Oct 5
*COMMENTARY: Bulls took comfort in the break of A$1.5109 Friday with focus now
on the 2017 highs. The Bollinger band top (A$1.5159) remains the key concern for
bulls with potential to limit follow through. Layers of support are accumulating
with bears now needing a close below A$1.5104 to ease immediate bullish pressure
and below A$1.4995 to pressure 55 (A$1.4933) & 100 (A$1.4899) DMAs.
US DOLLAR-INDEX TECHS: Below 92.724 To Shift Focus Lower
*RES 4: 93.942 - Hourly support Oct 6 now resistance
*RES 3: 93.844 - High Oct 9
*RES 2: 93.623 - Hourly support Oct 9 now resistance
*RES 1: 93.427 - Hourly resistance Oct 10
*PRICE: 93.268 @ 2030GMT
*SUP 1: 93.137 - Low Oct 10
*SUP 2: 93.083 - Hourly support Sept 29
*SUP 3: 92.930 - 55-DMA
*SUP 4: 92.835 - 21-DMA
*COMMENTARY: The lack of topside follow through and rejection ahead of the
100-DMA has left the index looking heavy and correcting back towards 92.724-930
where 21 & 55-DMAs are located. Below 92.724 remains needed to confirm breaks of
DMAs and to shift overall focus back to 2017 lows. Layers of resistance are
accumulating with bulls needing a close above 93.623 to gain breathing room and
above 94.476 to shift focus to 95.167-464.
EURO-DOLLAR TECHS: Pressuring Key Resistance Region
*RES 4: $1.1910 Daily Bear channel top
*RES 3: $1.1862 Low Sept 20 now resistance
*RES 2: $1.1839 21-DMA
*RES 1: $1.1825 High Oct 10
*PRICE: $1.1807 @ 1930GMT
*SUP 1: $1.1795 Hourly support Oct 10
*SUP 2: $1.1756 Hourly resistance Oct 9 now support
*SUP 3: $1.1739 Hourly support Oct 10
*SUP 4: $1.1716 Hourly resistance Oct 6 now support
*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. This week has seen the pair recover lost ground and pressure
$1.1839-1.1862 where 21 & 55-DMAs are noted. Bulls need a close above $1.1862 to
shift focus to $1.2033-92 and above the channel top to confirm.
DOLLAR-YEN TECHS: Bounces From 21 & 200-DMAs
*RES 4: Y113.44 High Oct 6
*RES 3: Y113.18 Hourly support Oct 6 now resistance
*RES 2: Y112.89 Hourly resistance Oct 6
*RES 1: Y112.48 Hourly resistance Oct 10
*PRICE: Y112.36 @ 1930GMT
*SUP 1: Y112.01 21-DMA
*SUP 2: Y111.86 200-DMA
*SUP 3: Y111.48 Low Sept 25
*SUP 4: Y111.09 100-DMA
*COMMENTARY: Bearish pressure resulted in a break lower only to find support and
bounce from key DMAs. Bulls now need a close above Y112.48 to gain breathing
room and above Y112.89 to return pressure to Y113.44-70. Bears now focus on the
200-DMA with a close below needed to pressure Y111.48 and below this level to
shift focus to 55 ( Y110.64) & 100 (111.09) DMAs. Below the 55-DMA hints at a
move back to 2017 lows with below Y109.52 to confirm.
SPOT GOLD TECHS: Capped Ahead Of Key Resistance
*RES 4: $1313.6 - High Sept 26
*RES 3: $1296.4 - High Sept 27
*RES 2: $1294.9 - 21-DMA
*RES 1: $1293.3 - 55-DMA
*PRICE: $1288.4 @ 2030GMT
*SUP 1: $1285.1 - Hourly support Oct 10
*SUP 2: $1277.6 - Hourly resistance Oct 6 now support
*SUP 3: $1270.7 - Hourly support Oct 6
*SUP 4: $1266.3 - Hourly resistance Oct 6 now support
*COMMENTARY: The recovery from Friday's low has seen the pair capped ahead of
the key $1296.4 resistance and 21 & 55-DMAs. Bulls again look for a close above
$1296.4 to shift initial focus back to $1313.6-1320.0. Initial support is noted
at $1285.1 with bears needing a close below to gain breathing room with below
$1277.6 needed to retain focus on $1242.0-1253.7 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]
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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.