MNI Asian Morning FX Technical Analysis

18 October 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bears Need Close Below 100-DMA

*RES 4: $0.7912 - 55-DMA

*RES 3: $0.7907 - Low Sept 22 now resistance

*RES 2: $0.7876 - Hourly resistance Oct 15

*RES 1: $0.7862 - Hourly resistance Oct 16

*PRICE: $0.7846 @ 2000GMT

*SUP 1: $0.7807 - 100-DMA 

*SUP 2: $0.7765 - Low Oct 11 

*SUP 3: $0.7733 - Low Oct 6 

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

*COMMENTARY: With bulls now needing a close above the 55-DMA to end bearish

hopes and initially target $0.7986, bears take comfort in the pair remaining

capped ahead of the 55-DMA to start the new week. Bears continue to look for a

close below the 100-DMA to shift focus back to $0.7682-0.7733. Daily studies are

currently lingering around neutral levels and providing few clues.

KIWI TECHS: 100-DMA Resistance Remains Key

*RES 4: $0.7264 - 100-DMA 

*RES 3: $0.7241 - 55-DMA 

*RES 2: $0.7207 - High Oct 17 

*RES 1: $0.7186 - Hourly resistance Oct 17

*PRICE: $0.7166 @ 2000GMT

*SUP 1: $0.7147 - Low Oct 17

*SUP 2: $0.7122 - Low Oct 13

*SUP 3: $0.7102 - Hourly support Oct 12

*SUP 4: $0.7055 - Low Oct 9

*COMMENTARY: Correcting O/S studies are providing support to the bullish case

but layers of resistance $0.7186-0.7264 where 55 & 100-DMAs are noted remain an

issue. Bulls need a close above the 100-DMA to end bearish hopes and shift focus

back to the bear channel top ($0.7363). Initial support is now noted at $0.7147

with bears needing a close below to confirm a break below the 200-DMA ($0.7160)

and retain focus on $0.7014-55 where the bear channel base is found.

AUSSIE-KIWI TECHS: NZ$1.1025 Resistance Key & Capping

*RES 4: NZ$1.1057 - Hourly support Sept 15a now resistance

*RES 3: NZ$1.1025 - Hourly support Sept 15 now resistance

*RES 2: NZ$1.1005 - High Oct 16

*RES 1: NZ$1.0956 - Hourly resistance Oct 16

*PRICE: NZ$1.0944 @ 2000GMT

*SUP 1: NZ$1.0928 - 21-DMA

*SUP 2: NZ$1.0923 - 55-DMA

*SUP 3: NZ$1.0900 - Hourly resistance Oct 3 now support

*SUP 4: NZ$1.0821 - Low Sept 21

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

week 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$1.09018) to

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

(NZ$1.0740) & 200 (NZ$1.0724) 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: Y88.34 - 21-DMA

*PRICE: Y88.03 @ 2000GMT

*SUP 1: Y87.63 - Low Oct 13, 55-DMA

*SUP 2: Y87.23 - Low Oct 10

*SUP 3: Y87.00 - Bollinger band base

*SUP 4: Y86.71 - 100-DMA

*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 need a close below the 55-DMA to ease bullish pressure and below

Y87.23 to shift initial focus to the 100-DMA (Y86.76).

EURO-AUSSIE TECHS: DMAs & Channel Base Supporting 

*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$1.5040 - High Oct 17

*PRICE: A$1.5024 @ 2000GMT

*SUP 1: A$1.4965 - 55-DMA 

*SUP 2: A$1.4950 - Daily Bull channel base 

*SUP 3: A$1.4903 - 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$1.5023)

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

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

of support are now building and adding to bullish confidence with a close above

A$1.5040 required to ease bearish pressure.

US DOLLAR-INDEX TECHS: Bears Need Close Below 93.251

*RES 4: 93.942 - Hourly support Oct 6 now resistance 

*RES 3: 93.844 - High Oct 9 

*RES 2: 93.729 - High Oct 17 

*RES 1: 93.593 - Hourly support Oct 17 now resistance

*PRICE: 93.502 @ 2030GMT

*SUP 1: 93.369 - Hourly support Oct 17

*SUP 2: 93.251 - Hourly support Oct 16

*SUP 3: 93.076 - Low Oct 16

*SUP 4: 92.924 - Hourly support Oct 13

*COMMENTARY: The recovery from dips below the 21 (93.099) & 55 (92.917) DMAs

provides bulls comfort and sees focus back on the 94.264-476 region where the

100-DMA (94.264) is situated. Overall bulls need a close above 94.476 to shift

focus to 95.167-464. The lack of topside follow through Tuesday is less than

ideal for bulls. Bears now look for a close below 93.251 to shift focus back to

92.724 and below this level to shift focus to 91.526-781.

EURO-DOLLAR TECHS: $1.1826-80 Resistance Region Key

*RES 4: $1.1880 High Oct 12

*RES 3: $1.1849 Hourly resistance Oct 13 

*RES 2: $1.1826 Hourly resistance Oct 13 

*RES 1: $1.1775 Hourly support Oct 17 now resistance

*PRICE: $1.1770 @ 1930GMT

*SUP 1: $1.1736 Low Oct 17 

*SUP 2: $1.1716 Hourly resistance Oct 6 now support 

*SUP 3: $1.1669 Low Oct 6 

*SUP 4: $1.1661 Low Aug 17

*COMMENTARY: The break of the $1.1862 resistance lacked follow through with the

pair capped around the daily bear channel top Thursday. Pressure on $1.1795 has

resulted in a break with bears again focused on a move back to the

$1.1583-1.1669 region where the channel base and 100-DMA are noted. Layers of

resistance remain with bulls needing a close above $$1.1826 to gain breathing

room and above $1.1880 to shift focus higher.

DOLLAR-YEN TECHS: Y112.48-89 Resistance 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: Y112.48 High Oct 17

*PRICE: Y112.23 @ 1930GMT

*SUP 1: Y112.04 Hourly support Oct 17 

*SUP 2: Y111.65 Low Oct 16 

*SUP 3: Y111.48 Low Sept 25 

*SUP 4: Y111.14 100-DMA

*COMMENTARY: Despite finding support on dips below the 200-DMA recently, bulls

failed to gain traction above the 21-DMA (Y112.36) Tuesday. Initial support is

noted at Y112.04 with bears needing a close below to retain focus on Y111.48-65

and below Y111.48 to initially pressure 100 (Y111.14) & 55 (Y110.77) DMAs. Bulls

now need a close above Y112.58 to ease bearish pressure and above Y112.89 to

shift immediate focus back to Y113.44-70. Bollinger bands are narrowing.

SPOT GOLD TECHS: Bears Need Close Below $1277.6

*RES 4: $1312.7 - Bollinger band top 

*RES 3: $1306.0 - High Oct 16 

*RES 2: $1298.3 - Alternating hourly support/resistance 

*RES 1: $1290.8 - Hourly resistance Oct 17

*PRICE: $1286.4 @ 2030GMT

*SUP 1: $1281.2 - Low Oct 17 

*SUP 2: $1277.6 - Hourly resistance Oct 6 now support 

*SUP 3: $1275.0 - 100-DMA 

*SUP 4: $1270.7 - Hourly support Oct 6

*COMMENTARY: Bulls have so far failed to gain traction above 21 & 55 ($1288.1 &

1295.9) DMAs with Tuesday's sell-off continuing to work through support layers.

The $1277.6 support remains key with a close below needed to shift focus back to

$1244.8-1260.5 where the 200-DMA ($1256.6) and bull channel base are situated.

Bulls now need a close above $1298.3 to retain focus on $1306.0-1320.0.

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

[TOPICS: MTABLE]