MNI Asian Morning FX Technical Analysis

16 October 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: 55-DMA Resistance Key

*RES 4: $0.8036 - High Sept 21

*RES 3: $0.7986 - High Sept 22

*RES 2: $0.7914 - 55-DMA

*RES 1: $0.7907 - Low Sept 22 now resistance

*PRICE: $0.7882 @ 2030GMT

*SUP 1: $0.7849 - Hourly breakout level 

*SUP 2: $0.7801 - 100-DMA 

*SUP 3: $0.7765 - Low Oct 11 

*SUP 4: $0.7733 - Low Oct 6

*COMMENTARY: Having gained traction above the 100-DMA Thursday bulls capitalised

to end the week with a close above the 21-DMA ($0.7868) that sees focus on the

55-DMA. Bulls need a close above the 55-DMA to end bearish hopes and initially

target $0.7986 with overall focus returning to 2017 highs. Bears now need a

close below $0.7849 to ease pressure on the 55-DMA and below the 100-DMA to

shift focus back to $0.7680-0.7733.

KIWI TECHS: 21-DMA Capping For Now

*RES 4: $0.7370 - Daily Bear channel top 

*RES 3: $0.7263 - 100-DMA 

*RES 2: $0.7246 - 55-DMA 

*RES 1: $0.7194 - 21-DMA

*PRICE: $0.7165 @ 2000GMT

*SUP 1: $0.7151 - Hourly breakout level Oct 13

*SUP 2: $0.7122 - Low Oct 13

*SUP 3: $0.7102 - Hourly support Oct 12

*SUP 4: $0.7055 - Low Oct 9

*COMMENTARY: Daily studies looking to correct higher provided bulls support with

immediate focus having now pm the 21-DMA. Bulls now need a close above the

21-DMA to confirm focus on 55 & 100-DMAs and above the100-DMA to target the bear

channel top. Bears now need a close below $0.7151 to gain breathing room and

below $0.7102 to return focus back to $0.6985-0.7031.

AUSSIE-KIWI TECHS: NZ$1.1025 Resistance Key

*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$1.0983 @ 2000GMT

*SUP 1: NZ$1.0944 - Low Oct 9

*SUP 2: NZ$1.0930 - 21-DMA

*SUP 3: NZ$1.0925 - Hourly support Oct

*SUP 4: NZ$1.0913 - 55-DMA

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

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 focus on 55 & 21-DMAs. Bears need a close below the 55-DMA (NZ$1.09013 to

shift focus back to NZ$1.0798-1.0824 and below NZ$1.0798 to target 100

(NZ$1.0736) & 200 (NZ$1.0722) DMAs.

AUSSIE-YEN TECHS: Y88.74-90 Resistance Key This Week

*RES 4: Y89.67 - High Sept 25 

*RES 3: Y88.90 - High Sept 27 

*RES 2: Y88.74 - High Oct 5 

*RES 1: Y88.40 - 21-DMA

*PRICE: Y88.22 @ 2000GMT

*SUP 1: Y88.12 - Hourly support Oct 13

*SUP 2: Y87.63 - Low Oct 13, 55-DMA

*SUP 3: Y87.23 - Low Oct 10

*SUP 4: Y87.06 - Bollinger band base

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

55-DMA failed to break the Y87.23 support last week resulting in pressure

returning to the 21-DMA. Bulls continue to look for a close above Y88.90 to

confirm a break of the 21-DMA and to shift overall focus back to tests of 2017

highs. Bears now need a close below the 55-DMA to ease bullish pressure and

below Y87.23 to shift initial focus to the 100-DMA (Y86.66).

EURO-AUSSIE TECHS: Pressure On Key DMAs & Channel Base 

*RES 4: A$1.5178 - Hourly resistance Oct 12

*RES 3: A$1.5135 - High Oct 13

*RES 2: A$1.5105 - Hourly resistance Oct 13

*RES 1: A$1.5024- Alternating hourly support/resistance Oct 13

*PRICE: A$1.4986 @ 2000GMT

*SUP 1: A$1.4960 - 55-DMA 

*SUP 2: A$1.4934 - Daily Bull channel base 

*SUP 3: A$1.4902 - 100-DMA 

*SUP 4: A$1.4790 - Low Sept 21

*COMMENTARY: With the pair looking heavy heading into Friday bears were not

disappointed with the sell-off and bearish close below the 21-DMA (A$1.5022)

that sees pressure back on the 100-DMA, 55-DMA and bull channel base. bears now

need a close below the 100-DMA to shift initial focus to A$1.4790. Layers of

support have been left in the wake with bulls needing a close above A$1.5024 to

gain breathing room.

US DOLLAR-INDEX TECHS: 92.724 Support Remains Key

*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: 93.239 - High Oct 13

*PRICE: 93.091 @ 0430GMT

*SUP 1: 92.924 - Hourly support Oct 13

*SUP 2: 92.881 - Hourly resistance Oct 13 now support

*SUP 3: 92.724 - High Sept 25 now support

*SUP 4: 92.649 - Daily Bull channel base

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

21 (92.961) & 55 (92.900) 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: $1.1795 Support Remains Key

*RES 4: $1.2033 High Sept 20 

*RES 3: $1.1886 Daily Bear channel top 

*RES 2: $1.1880 High Oct 12 

*RES 1: $1.1849 Hourly resistance Oct 13

*PRICE: $1.1812 @ 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 around the daily bear channel top Thursday. The

$1.1795 support remains key. 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 bear channel top to shift focus to $1.2033-92 where 2017

highs are noted.

DOLLAR-YEN TECHS: Y111.48-69 Support Region Key

*RES 4: Y113.18 Hourly support Oct 6 now resistance 

*RES 3: Y112.89 Hourly resistance Oct 6 

*RES 2: Y112.58 High Oct 11 

*RES 1: Y112.31 Hourly resistance Oct 12, 21-DMA

*PRICE: Y111.72 @ 1930GMT

*SUP 1: Y111.69 Low Oct 13 

*SUP 2: Y111.48 Low Sept 25 

*SUP 3: Y111.12 100-DMA 

*SUP 4: Y110.72 55-DMA

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

with focus firmly on the 200-DMA (Y111.78). Bears need a close below the 200-DMA

to pressure Y111.48 and below this level to shift focus to 55 (Y110.72) & 100

(111.12) DMAs. Below the 55-DMA hints at a move back to 2017 lows with below

Y109.52 to confirm. Bulls now need a close above the 21-DMA to ease bearish

pressure and above Y112.89 to shift immediate focus back to Y113.44-70.

SPOT GOLD TECHS: $1277.6-1289.6 Support Region Key

*RES 4: $1334.8 - High Sept 13 

*RES 3: $1320.0 - High Sept 18 

*RES 2: $1319.0 - Bollinger band top 

*RES 1: $1313.6 - High Sept 26

*PRICE: $1304.5 @ 2030GMT

*SUP 1: $1298.3 - Hourly resistance Oct 13 now support 

*SUP 2: $1289.6 - Low Oct 12 

*SUP 3: $1284.5 - Low Oct 11 

*SUP 4: $1277.6 - Hourly resistance Oct 6 now support

*COMMENTARY: The break of $1296.4 gained momentum Friday with bulls now

targeting $1313.6-1320.0. A close above $1320.0 is needed to shift focus to

$1357.5 Sept highs. Support layers are building with bears now needing a close

below $1289.6 to ease bullish pressure and below $1277.6 to shift focus back to

$1243.7-1260.5 where the 200-DMA and bull channel base are situated.

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

[TOPICS: MTABLE]