MNI Asian Morning FX Technical Analysis

12 October 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: O/S Daily Studies Correcting

*RES 4: $0.7887 - 21-DMA

*RES 3: $0.7840 - Hourly resistance Oct 5

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

*RES 1: $0.7809 - Hourly resistance Oct 11

*PRICE: $0.7798 @ 2030GMT

*SUP 1: $0.7765 - Low Oct 11 

*SUP 2: $0.7733 - Low Oct 6 

*SUP 3: $0.7712 - High June 30 now support 

*SUP 4: $0.7672 - 200-DMA

*COMMENTARY: The pair is currently flirting with the 100-DMA ($0.7791) with

bulls needing a close above $0.7809 to add support to the case for a bounce back

to 21 & 55-DMAs ($0.7888-0.7921). Correcting O/S studies add support to the case

for a correction. The bounce from the day's low leaves the pair looking bid

although $0.7809 remains key. Bears now need a close below $0.7765 to ease

renewed bullish pressure and below $0.7712 to focus on the 200-DMA ($0.7672).

KIWI TECHS: Bulls Need Close Above 200-DMA

*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: $0.7099 - High Oct 11

*PRICE: $0.7091 @ 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: Daily studies looking to correct higher are providing bulls support

with the $0.7099-0.7156 resistance region remaining key. Bulls need a close

above $0.7099 to gain breathing room and above the 200-DMA to hint at a

correction back to $0.7208-65 where 21, 55 & 100-DMAs are noted. O/S studies and

the Bollinger base ($0.7036) are key concerns for bears who need a close below

$0.7031 to target $0.6950.

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$1.0994 @ 2000GMT

*SUP 1: NZ$1.0977 - Hourly support Oct 11

*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$1.0901) to shift focus

back to NZ$1.0798-1.0824.

AUSSIE-YEN TECHS: Y87.23 Support Key

*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: Y87.78 - High Oct 10

*PRICE: Y87.61 @ 2000GMT

*SUP 1: Y87.23 - Low Oct 10

*SUP 2: Y87.18 - Bollinger band base

*SUP 3: Y86.56 - 100-DMA

*SUP 4: Y86.54 - Low Sept 6

*COMMENTARY: The break of the daily bull channel base and closes below the

55-DMA have failed to break the Y87.23 support with bears needing a close below

this level to shift immediate focus to the 100-DMA and overall focus to

Y85.45-80 where the 200-DMA is noted. Initial resistance is noted at Y87.78 with

bulls needing a close above to confirm a break of the 55-DMA and ease bearish

pressure. Above Y88.03 shifts focus back to Y88.74-89.

EURO-AUSSIE TECHS: Bulls Now Targeting Bull Channel Top 

*RES 4: A$1.5541 - Monthly High June 2 2016

*RES 3: A$1.5432 - Daily Bull channel top

*RES 2: A$1.5364 - High June 16 2016

*RES 1: A$1.5298 - High June 20 2016

*PRICE: A$1.5226 @ 2000GMT

*SUP 1: A$1.5138 - Low Oct 11 

*SUP 2: A$1.5104 - Low Oct 10 

*SUP 3: A$1.5079 - Hourly support Oct 9a 

*SUP 4: A$1.4995 - Hourly support Oct 5

*COMMENTARY: Bulls have not looked back since breaking A$1.5109 Friday with

fresh 2017 and 4mth highs seeing bulls shift focus to tests of the daily bull

channel top. The Bollinger top (A$1.5198) is the key concern for bulls with

potential to limit follow through. Bears now look for a close below A$1.5138 to

ease immediate bullish pressure and below A$1.5079 to shift focus back to key

DMAs A$1.4902-1.5003 and the bull channel base (A$1.4918).

US DOLLAR-INDEX TECHS: Below 92.724 To Shift Focus Lower

*RES 4: 93.623 - Hourly support Oct 9 now resistance 

*RES 3: 93.472 - Hourly resistance Oct 10a 

*RES 2: 93.369 - High Oct 11 

*RES 1: 93.121 - Hourly resistance Oct 11

*PRICE: 92.910 @ 2030GMT

*SUP 1: 92.885 - 21-DMA

*SUP 2: 92.724 - High Sept 25 now support

*SUP 3: 92.524 - Daily Bull channel base

*SUP 4: 91.781 - Low Sept 22

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

100-DMA has left the index looking heavy and pressuring 92.724-917 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: Above Channel Top Targets $1.2019-92

*RES 4: $1.2092 2017 High Sept 8 

*RES 3: $1.2019 High Sept 20 

*RES 2: $1.1891 Hourly support Sept 21 now resistance 

*RES 1: $1.1902 Daily Bear channel top

*PRICE: $1.1861 @ 1930GMT

*SUP 1: $1.1831 Hourly resistance Oct 11 now support 

*SUP 2: $1.1795 Hourly support Oct 10 

*SUP 3: $1.1756 Hourly resistance Oct 9 now support 

*SUP 4: $1.1739 Hourly support Oct 10

*COMMENTARY: The pair remains bid with the break of the $1.1862 resistance

hinting at a move back to $1.2019-92 and above the daily bull channel top now

needed to confirm. Layers of support are building and adding to bullish

confidence with bears now needing a close below $1.1831 to ease immediate

bullish pressure and below $1.1795 to shift focus back to the $1.1583-1.1661.

Daily studies are well placed for a fresh leg higher.

DOLLAR-YEN TECHS: Bulls Need Close Above Y112.89

*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: Y112.58 High Oct 11

*PRICE: Y112.39 @ 1930GMT

*SUP 1: Y112.10 21-DMA 

*SUP 2: Y111.84 200-DMA 

*SUP 3: Y111.48 Low Sept 25 

*SUP 4: Y111.10 100-DMA

*COMMENTARY: Bulls failed to capitalise on the bounce from 21 & 200-DMAs Tuesday

with pressure having returned to these supports. 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 (Y110.65) & 100 (111.10) DMAs. Below the 55-DMA hints at a move back

to 2017 lows with below Y109.52 to confirm. Bulls look for a close above Y112.89

to ease pressure on key supports and target Y113.44-70.

SPOT GOLD TECHS: Bulls Need Close Above $1296.4

*RES 4: $1320.0 - High Sept 18 

*RES 3: $1313.6 - High Sept 26 

*RES 2: $1296.4 - High Sept 27 

*RES 1: $1293.9 - 55-DMA

*PRICE: $1293.0 @ 2030GMT

*SUP 1: $1284.5 - Low Oct 11 

*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: Having previously been capped on approach to the 21 & 55-DMAs and

the $1296.4 resistance bulls take comfort in pressure returning to this region.

Bulls need a close above $1296.4 to shift initial focus back to $1313.6-1320.0.

Initial support is noted at $1284.5 with bears needing a close below to gain

breathing room and below $1277.6 needed to return focus to $1242.5-1254.5 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]