MNI 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]