MNI Asian Morning FX Technical Analysis

13 October 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Gaining Traction Above 100-DMA

*RES 4: $0.7907 - Hourly support Sept 22 now resistance

*RES 3: $0.7918 - 55-DMA

*RES 2: $0.7880 - 21-DMA

*RES 1: $0.7840 - Hourly resistance Oct 5

*PRICE: $0.7824 @ 2000GMT

*SUP 1: $0.7799 - Hourly resistance Oct 12 now support 

*SUP 2: $0.7765 - Low Oct 11 

*SUP 3: $0.7733 - Low Oct 6 

*SUP 4: $0.7712 - High June 30 now support

*COMMENTARY: The pair is currently gaining traction above the 100-DMA ($0.7794)

with a likely close above $0.7809 to add support to the case for a bounce back

to 21 & 55-DMAs ($0.7880-0.7918). Correcting O/S studies add support to the case

for a correction. Layers of support are building with bears now needing a close

below $0.7765 to ease renewed bullish pressure and below $0.7712 to focus on the

200-DMA ($0.7674).

KIWI TECHS: Bulls Need Close Above 200-DMA

*RES 4: $0.7261 - 100-DMA 

*RES 3: $0.7203 - 21-DMA 

*RES 2: $0.7157 - 200-DMA 

*RES 1: $0.7146 - Low Oct 4 now resistance

*PRICE: $0.7134 @ 2000GMT

*SUP 1: $0.7102 - Hourly support Oct 12

*SUP 2: $0.7055 - Low Oct 9

*SUP 3: $0.7031 - Low May 30

*SUP 4: $0.6985 - Low May 23

*COMMENTARY: Daily studies looking to correct higher are providing bulls support

with immediate focus having returned to the 200-DMA. Bulls need a close above

the 200-DMA to hint at a correction back to $0.7203-61 where 21, 55 & 100-DMAs

are noted. Correcting O/S studies remain the key concern for bears who need a

close below $0.7102 to ease immediate bullish pressure and below $0.7031 to

target $0.6950.

AUSSIE-KIWI TECHS: Topside Failures Taking Their Toll

*RES 4: NZ$1.1107 - High Sept 12

*RES 3: NZ$1.1057 - Hourly support Sept 15a now resistance

*RES 2: NZ$1.1025 - Hourly support Sept 15 now resistance

*RES 1: NZ$1.0977 - Hourly support Oct 11 now resistance

*PRICE: NZ$1.0970 @ 2000GMT

*SUP 1: NZ$1.0944 - Low Oct 9

*SUP 2: NZ$1.0934 - 21-DMA

*SUP 3: NZ$1.0925 - Hourly support Oct

*SUP 4: NZ$1.0906 - 55-DMA

*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. Topside hesitation has taken its toll

with the pair looking heavy and focus on 55 & 21-DMAs. bears now need a close

below the the 55-DMA (NZ$1.0906) to shift focus back to NZ$1.0798-1.0824 and

below NZ$1.0798 to target 100 (NZ$1.0731) & 200 (NZ$1.0720) DMAs.

AUSSIE-YEN TECHS: Bulls Need Close Above Y88.03

*RES 4: Y88.90 - High Sept 27 

*RES 3: Y88.74 - High Oct 5 

*RES 2: Y88.38 - Hourly resistance Oct 5a 

*RES 1: Y88.03 - Hourly resistance Oct 5

*PRICE: Y87.83 @ 2000GMT

*SUP 1: Y87.66 - Hourly support Oct 12

*SUP 2: Y87.23 - Low Oct 10

*SUP 3: Y87.06 - Bollinger band base

*SUP 4: Y86.60 - 100-DMA

*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

to shift immediate focus to the 100-DMA and overall focus to Y85.45-82 where the

200-DMA is noted. The Y88.03 resistance remains key. Bulls need a close above

Y88.03 to shift focus back to Y88.74-90. Correcting O/S studies add to the case

for a correction but Y88.03 is key.

EURO-AUSSIE TECHS: Looking Heavy, A$1.5104 Support Key Today 

*RES 4: A$1.5364 - High June 16 2016

*RES 3: A$1.5298 - High June 20 2016

*RES 2: A$1.5243 - 2017 High Oct 11

*RES 1: A$1.5178 - Hourly resistance Oct 12

*PRICE: A$1.5120 @ 2000GMT

*SUP 1: A$1.5104 - Low Oct 10 

*SUP 2: A$1.5079 - Hourly support Oct 9a 

*SUP 3: A$1.5014 - 21-DMA 

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

*COMMENTARY: Despite recent fresh 2017 highs and a bullish close Wednesday bulls

have failed to trouble the A$1.5298 resistance with the pair looking a little

heavy and immediate pressure back on A$1.5104 as resistance layers build. Bears

now look for a close below A$1.5108 to add weight to the case for a correction

back to A$1.4903-1.5014 where the bull channel base, 21, 55 & 100-DMAs are

situated. Bulls need a close above A$1.5178 to gain breathing room.

US DOLLAR-INDEX TECHS: 92.724 Support Confirms Significance

*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: 93.070 @ 2030GMT

*SUP 1: 92.953 - Hourly resistance Oct 12 now support

*SUP 2: 92.797 - Low Oct 12

*SUP 3: 92.724 - High Sept 25 now support

*SUP 4: 92.586 - Daily Bull channel base

*COMMENTARY: The sell-off from ahead of the 100-DMA has now resulted in dips

below the 21 (92.916) 55 (92.904) DMAs only to find support ahead of the key

92.724 level. Below 92.724 remains needed to confirm breaks of DMAs and to shift

overall focus to 2017 lows. Layers of resistance are accumulating with bulls

needing a close above 93.369 to gain breathing room and above 94.476 to shift

focus to 95.167-464.

EURO-DOLLAR TECHS: Capped Ahead Of Bear Channel Top

*RES 4: $1.2019 High Sept 20 

*RES 3: $1.1894 Daily Bear channel top 

*RES 2: $1.1880 High Oct 12 

*RES 1: $1.1853 Hourly resistance Oct 12

*PRICE: $1.1836 @ 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: The break of the $1.1862 resistance has so far lacked follow

through with the pair capped ahead of the daily bear channel top Thursday. The

$1.1795 support remains key today. Bears continue to look for a close below

$1.1795 to shift focus back to the $1.1583-1.1661 region. While $1.1795 supports

bulls look for a close above the channel top to add support to the case for a

test of $1.2019-92.

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: Y112.21 @ 1930GMT

*SUP 1: Y112.13 Low Oct 12 

*SUP 2: Y111.82 200-DMA 

*SUP 3: Y111.48 Low Sept 25 

*SUP 4: Y111.11 100-DMA

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

with pressure having returned to these supports. Bears remain focused on the

200-DMA with a close below needed to pressure Y111.48 and below this level to

shift focus to 55 (Y110.67) & 100 (111.11) 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 initially target Y113.44-70.

SPOT GOLD TECHS: Bears Need Close Below $1284.5

*RES 4: $1334.8 - High Sept 13 

*RES 3: $1320.0 - High Sept 18 

*RES 2: $1313.6 - High Sept 26 

*RES 1: $1297.3 - High Oct 12

*PRICE: $1293.6 @ 2030GMT

*SUP 1: $1289.6 - Low Oct 12 

*SUP 2: $1284.5 - Low Oct 11 

*SUP 3: $1277.6 - Hourly resistance Oct 6 now support 

*SUP 4: $1270.7 - Hourly support Oct 6

*COMMENTARY: The break of $1296.4 has so far lacked follow through which is less

than ideal for bulls who are now targeting $1313.6-1320.0. Support layers are

building with bears now needing a close below $1284.5 to confirm an easing of

bullish pressure and below $1277.6 to shift focus back to $1243.1-1260.5 where

the 200-DMA and bull channel base are situated. Bulls now need a close above

$1297.3 to add support to their case.

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

[TOPICS: MTABLE]