MNI Asian Morning FX Technical Analysis

20 October 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: $0.7809 & 55-DMA Levels Remain Key

*RES 4: $0.7952 - Bollinger band top

*RES 3: $0.7908 - 55-DMA

*RES 2: $0.7907 - Low Sept 22 now resistance

*RES 1: $0.7884 - High Oct 19

*PRICE: $0.7861 @ 2000GMT

*SUP 1: $0.7840 - Hourly resistance Oct 18 now support 

*SUP 2: $0.7816 - 100-DMA 

*SUP 3: $0.7809 - High Oct 11 now support 

*SUP 4: $0.7765 - Low Oct 11

*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 so far this week. Bears now look for a close below

$0.7809 to confirm a break of the 100-DMA and shift focus back to $0.7686-0.7733

where the 200-DMA and Oct lows are located. Overall a close below the 200-DMA

hints at a move initially targeting $0.7513.

KIWI TECHS: $0.6951 Support Now Key

*RES 4: $0.7207 - High Oct 17 

*RES 3: $0.7160 - 200-DMA 

*RES 2: $0.7119 - Low Oct 18 now resistance 

*RES 1: $0.7056 - Hourly resistance Oct 19

*PRICE: $0.7009 @ 2000GMT

*SUP 1: $0.6985 - Low May 23

*SUP 2: $0.6951 - High May 18 now support

*SUP 3: $0.6860 - Low May 16

*SUP 4: $0.6816 - 2017 Low May 11

*COMMENTARY: Recent topside failures around the 21-DMA and a lack of topside

follow through took its toll with a sharp selloff and bearish close that sees

the pair flirting with the bear channel base ($0.7007), Bolli base ($0.7008) &

the 100-WMA ($0.7032). bears now look for a close below $0.6951 to confirm focus

on 2017 lows. Bulls now need a close above $0.7056 to gain breathing room and

above $0.7119 to shift initial focus back to the 200-DMA.

AUSSIE-KIWI TECHS: Focus Shifts To Bull Channel Top

*RES 4: NZ$1.1389 - Daily Bull Channel top

*RES 3: NZ$1.1347 - Monthly High Sept 17 2015

*RES 2: NZ$1.1328 - 2016 High Mar 23

*RES 1: NZ$1.1272 - Monthly High Apr 25 2016

*PRICE: NZ$1.1212 @ 2000GMT

*SUP 1: NZ$1.1149 - Hourly support Oct 19

*SUP 2: NZ$1.1144- High Sept 7 now support

*SUP 3: NZ$1.1092 - High Sept 15 now support

*SUP 4: NZ$1.1025 - Previous key resistance now support

*COMMENTARY: The lack of follow through on the dip below the 21 (NZ$1.0943) & 55

(NZ$1.0937) DMAs has resulted in an aggressive break of the NZ$1.1025

resistance, fresh 2017 and 18mth highs with overall focus now on tests of the

bull channel top. Layers of support have been left in the wake with bears

needing a close below NZ$1.1144 to gain breathing room and below NZ$1.1092 to

shift focus back to NZ$1.1025.

AUSSIE-YEN TECHS: Topside Follow Through Lacking

*RES 4: Y89.67 - High Sept 25 

*RES 3: Y89.23 - Bollinger band top 

*RES 2: Y89.00 - High Oct 19 

*RES 1: Y88.74 - Hourly resistance Oct 19

*PRICE: Y88.59 @ 2000GMT

*SUP 1: Y88.37 - Low Oct 19

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

*SUP 3: Y87.73 - Daily Bull channel base

*SUP 4: Y87.66 - 55-DMA

*COMMENTARY: Bulls managed a break of the key Y88.90 resistance but follow

through has so far been lacking. Support layers are starting to build with bears

needing a close below Y88.21 to confirm a break of the 21-DMA (Y88.23) and shift

focus back to Y87.23-73 where the 55-DMA and bull channel base are situated.

Bulls now look for a close above Y89.00 to confirm focus on Y89.67-90.30.

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$1.5048 @ 2000GMT

*SUP 1: A$1.5011 - Hourly support Oct 19 

*SUP 2: A$1.4969 - 55-DMA 

*SUP 3: A$1.4967 - Daily Bull channel base 

*SUP 4: A$1.4900 - 100-DMA

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

key A$1.4900-69 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$1.5036)

with bulls now needing a close above A$1.5105 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: 92.724 Support Remains Key

*RES 4: 93.844 - High Oct 9 

*RES 3: 93.797 - High Oct 18 

*RES 2: 93.658 - Hourly support Oct 18 now resistance 

*RES 1: 93.550 - High Oct 19

*PRICE: 93.278 @ 2030GMT

*SUP 1: 93.055 - Low Oct 19

*SUP 2: 92.934 - 55-DMA

*SUP 3: 92.987 - Daily Bull channel base

*SUP 4: 92.724 - High Sept 25 now support

*COMMENTARY: Hesitation ahead of the 94.189-476 resistance region is less than

ideal for bulls with a close above 93.797 needed to add support to their case.

Daily studies are well placed for gains. The 92.724-934 support region remains

key. Bears need a close below 97.724 to confirm breaks of the 55-DMA and daily

bull channel base and to shift focus to 91.011-781 where 2017 lows are situated.

EURO-DOLLAR TECHS: Capped Ahead Of Key Resistance

*RES 4: $1.2033 High Sept 20 

*RES 3: $1.1923 Bollinger band top 

*RES 2: $1.1880 High Oct 12 

*RES 1: $1.1858 High Oct 19

*PRICE: $1.1826 @ 1930GMT

*SUP 1: $1.1822 Hourly resistance Oct 19 now support 

*SUP 2: $1.1769 Hourly support Oct 19 

*SUP 3: $1.1731 Low Oct 18 

*SUP 4: $1.1716 Hourly resistance Oct 6 now support

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

support emerges on dips back to the 200-WMA ($1.1692). The recovery from the

week's lows so far has stalled ahead of the daily bear channel top ($1.1853) and

key $1.1880 resistance. Bulls need a close 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: Bulls Need Close Above Y113.70

*RES 4: Y113.44 High Oct 6 

*RES 3: Y113.18 Hourly support Oct 6 now resistance 

*RES 2: Y113.11 Bollinger band top 

*RES 1: Y112.75 Hourly resistance Oct 19

*PRICE: Y112.66 @ 1930GMT

*SUP 1: Y112.30 Low Oct 19 

*SUP 2: Y112.04 Hourly support Oct 17 

*SUP 3: Y111.65 Low Oct 16 

*SUP 4: Y111.48 Low Sept 25

*COMMENTARY: Bulls take comfort in support emerging below the 21-DMA (Y112.45)

with support previously emerging on dips below the 200-DMA (Y111.74). Bears now

need a close below Y112.30 to ease bullish pressure and below Y111.48 to shift

focus to 55 & 100-DMAs. The Bollinger band top is currently capping but daily

studies remain well placed for gains. The Y113.70 resistance remains key with

bulls looking for a close above Y113.70 to pressure 2017 highs.

SPOT GOLD TECHS: Bears Need Close Below 100-DMA

*RES 4: $1306.0 - High Oct 16 

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

*RES 2: $1296.5 - 55-DMA 

*RES 1: $1290.8 - Hourly resistance Oct 17

*PRICE: $1288.1 @ 2030GMT

*SUP 1: $1275.2 - 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: Pressure on the 100-DMA has so far failed to produce the close

below needed to see bears confirm focus on tests of $1243.4-1260.1 where the

daily bull channel base ($1245.9) and 200-DMA ($1257.5) are noted. Bulls

continue to look for a close above $1290.8 to ease immediate bearish pressure

and above $1306.0 to pressure $1313.6-1320.0. Daily studies remain well placed

for further losses.

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

[TOPICS: MTABLE]