MNI Asian Morning FX Technical Analysis

19 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: $0.7909 - 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: $0.7811 - 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 $0.7684-0.7733 where the 200-DMA

and Oct lows are located. Daily studies are currently lingering around neutral

levels and providing few clues.

KIWI TECHS: $0.7186-0.7264 Resistance Region Key

*RES 4: $0.7264 - 100-DMA 

*RES 3: $0.7236 - 55-DMA 

*RES 2: $0.7207 - High Oct 17 

*RES 1: $0.7186 - Hourly resistance Oct 17

*PRICE: $0.7153 @ 2000GMT

*SUP 1: $0.7141 - Hourly support Oct 18

*SUP 2: $0.7119 - Low Oct 18

*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 ($0.7360). Bears now look for a close below $0.7119

to distance themselves from the 200-DMA ($0.7160) and retain focus on $0.7011-55

where the bear channel base is found.

AUSSIE-KIWI TECHS: Bulls Need Close Above NZ$1.1025

*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$1.0994 - Daily Bear channel top

*PRICE: NZ$1.0976 @ 2000GMT

*SUP 1: NZ$1.0949 - Hourly resistance Oct 18 now support

*SUP 2: NZ$1.0928 - 55-DMA, 21-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. Bulls take comfort in support emerging

ahead of 21 & 55-DMS following the bounce from the week's lows. Bears need a

close below NZ$1.0900 to confirm breaks of 21 & 55-DMAs and to shift focus back

to NZ$1.0798-1.0824 and below NZ$1.0798 to target 100 & 200DMAs.

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

*RES 4: Y89.67 - High Sept 25 

*RES 3: Y89.56 - Bollinger band top 

*RES 2: Y88.90 - High Sept 27 

*RES 1: Y88.74 - High Oct 5

*PRICE: Y88.58 @ 2000GMT

*SUP 1: Y88.48 - Hourly support Oct 18

*SUP 2: Y88.21 - Hourly resistance Oct 18 now support

*SUP 3: Y87.64 - 55-DMA

*SUP 4: Y87.23 - Low Oct 10

*COMMENTARY: The recovery from last week's low has resulted in a likely close

above the 21-DMA (Y88.30) and immediate focus back to key resistance layers.

Bulls need a close above Y88.90 to gain tracing above the 21-DMA and to shift

overall focus back to tests of 2017 highs. Bears now need a close below Y88.21

to ease bullish pressure and below Y87.23 to pressure the 100-DMA (Y86.83).

EURO-AUSSIE TECHS: DMAs & Channel Base Supporting 

*RES 4: A$1.5239 - High Oct 11

*RES 3: A$1.5178 - Hourly resistance Oct 12

*RES 2: A$1.5135 - High Oct 13

*RES 1: A$1.5105 - Hourly resistance Oct 13

*PRICE: A$1.5033 @ 2000GMT

*SUP 1: A$1.4965 - 55-DMA 

*SUP 2: A$1.4958 - Daily Bull channel base 

*SUP 3: A$1.4902 - 100-DMA 

*SUP 4: A$1.4790 - Low Sept 21

*COMMENTARY: Despite recently remaining heavy, bears have failed to trouble the

key A$1.4902-67 support region where 55 & 100-DMAs and the bull channel base are

situated. Bulls take comfort in the likely close above the 21-DMA (A$1.5026)

with bulls now needing a close above A$1.5104 to shift focus to tests of 2017

highs. Bears initially look for a close below the bull channel base to ease

bullish pressure and below the 100-DMA to shift immediate focus to A$1.4790.

US DOLLAR-INDEX TECHS: 21-DMA Support Key Today

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

*RES 3: 93.844 - High Oct 9 

*RES 2: 93.797 - High Oct 18 

*RES 1: 93.658 - Hourly support Oct 18 now resistance

*PRICE: 93.392 @ 2030GMT

*SUP 1: 93.251 - Hourly support Oct 16

*SUP 2: 93.176 - 21-DMA

*SUP 3: 93.076 - Low Oct 16

*SUP 4: 92.927 - 55-DMA

*COMMENTARY: The recovery from dips below the 21 (93.180) & 55 (92.929) DMAs

provided bulls comfort and sees focus back on the 94.229-476 region where the

100-DMA (94.229) is situated. Overall bulls need a close above 94.476 to shift

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

bulls. Bears now look for a close below the 21-DMA to shift focus back to 92.724

and below this level to initially target 91.526-781.

EURO-DOLLAR TECHS: Flirting with 21-DMA

*RES 4: $1.2033 High Sept 20 

*RES 3: $1.1880 High Oct 12 

*RES 2: $1.1849 Hourly resistance Oct 13a 

*RES 1: $1.1826 Hourly resistance Oct 13

*PRICE: $1.1799 @ 1930GMT

*SUP 1: $1.1782 Hourly resistance Oct 18 now support 

*SUP 2: $1.1731 Low Oct 18 

*SUP 3: $1.1716 Hourly resistance Oct 6 now support 

*SUP 4: $1.1669 Low Oct 6

*COMMENTARY: Downside follow through has been lacking the past two days as

support emerges on dips back to the 200-WMA ($1.1692). Wednesday's recovery sees

the pair flirting with the 21-DMA ($1.1802). Layers of resistance remain

$1.1826-80 with the 55-DMA at $1.1840. Bulls look for a close above the 21-DMA

to gain breathing room and above $1.1880 to shift focus to $1.2033. Bears now

need a close below $1.1731 to reconfirm focus on $1.1583-1.1669.

DOLLAR-YEN TECHS: 21-DMA Support Key Today

*RES 4: Y113.70 Low July 11 now resistance 

*RES 3: Y113.44 High Oct 6 

*RES 2: Y113.18 Hourly support Oct 6 now resistance 

*RES 1: Y113.08 Bollinger band top

*PRICE: Y112.92 @ 1930GMT

*SUP 1: Y112.75 Hourly support Oct 18 

*SUP 2: Y112.42 21-DMA 

*SUP 3: Y112.04 Hourly support Oct 17 

*SUP 4: Y111.65 Low Oct 16

*COMMENTARY: The pair found support on dips below the 200-DMA (Y111.75) this

week with bulls taking comfort gaining traction above the 21-DMA (Y112.42) . The

Bollinger band top is currently capping but daily studies remain well placed for

gains. The 21-DMA is key support today with bears needing a close below to ease

bullish pressure. Overall below Y111.48 is needed to shift focus to 55 &

100-DMAs. Bulls now look for a close above Y113.70 to pressure 2017 highs.

SPOT GOLD TECHS: 100-DMA Support Key Today

*RES 4: $1306.0 - High Oct 16 

*RES 3: $1298.3 - Alternating hourly support/resistance 

*RES 2: $1290.8 - Hourly resistance Oct 17 

*RES 1: $1284.4 - Hourly support Oct 18 now resistance

*PRICE: $1280.5 @ 2030GMT

*SUP 1: $1275.1 - 100-DMA 

*SUP 2: $1270.7 - Hourly support Oct 6 

*SUP 3: $1266.3 - Hourly resistance Oct 6 now support 

*SUP 4: $1260.6 - Low Oct 6

*COMMENTARY: Failure to gain traction above 21 & 55 ($1286.7 & 1296.1) DMAs has

resulted in further losses and immediate pressure on the 100-DMA. Bears need a

close below the 100-DMA to add weight to the case for a test of $1243.4-1260.1

where the daily bull channel base ($1245.3) and 200-DMA ($1257.1) are noted.

Bulls now need a close above $1290.8 to ease immediate bearish pressure and

above $1306.0 to pressure $1313.6-1320.0.

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

[TOPICS: MTABLE]