MNI Asian Morning FX Technical Analysis

23 October 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Focus On $0.7690-0.7733 This Week

*RES 4: $0.7904 - 55-DMA

*RES 3: $0.7884 - High Oct 19

*RES 2: $0.7856 - Hourly resistance Oct 20a

*RES 1: $0.7829 - Hourly resistance Oct 20

*PRICE: $0.7815 @ 2000GMT

*SUP 1: $0.7807 - Low Oct 20 

*SUP 3: $0.7765 - Low Oct 11 

*SUP 3: $0.7748 - Bollinger band base 

*SUP 4: $0.7733 - Low Oct 6

*COMMENTARY: The pair remains heavy as it trades below 21 ($0.7834) & 100

($0.7823) DMAs to start the new week. Having remained capped ahead of the 55-DMA

bears now focus on the $0.7690-0.7733 region where the 200-DMA and Oct lows are

noted. Below the 200-DMA hints at a move initially targeting $0.7513. Layers of

resistance are building and weighing with bulls needing a close above the 55-DMA

to end bearish hopes and shift initial focus back to $0.7986.

KIWI TECHS: Flirting With Key Support

*RES 4: $0.7158 - 200-DMA 

*RES 3: $0.7119 - Low Oct 18 now resistance 

*RES 2: $0.7056 - Hourly resistance Oct 19 

*RES 1: $0.7007 - Hourly resistance Oct 20

*PRICE: $0.6950 @ 2000GMT

*SUP 1: $0.6921 - Daily Bear channel base

*SUP 2: $0.6860 - Low May 16

*SUP 3: $0.6816 - 2017 Low May 11

*SUP 4: $0.6674 - Monthly Low May 30 2016

*COMMENTARY: Last week's sell off saw pressure return to the LT daily bull

channel base off 2017 lows ($0.6965) with bears taking comfort in the pair

trading below today. Bears need to gain traction below Friday's $0.6954 low to

confirm focus on 2017 lows. Daily studies have room to move before O/S is an

issue. Bulls now need a close above $0.7007 to gain breathing room and above

$0.7056 to hint at a correction back to $0.7119-58 where the 200-DMA is noted.

AUSSIE-KIWI TECHS: Focus Shifts To Bull Channel Top

*RES 4: NZ$1.1396 - 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$1.1242 @ 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$1.0978) & 55

(NZ$1.0956) DMAs 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: Y89.13 - Bollinger band top 

*RES 2: Y89.00 - High Oct 19 

*RES 1: Y88.69 - Hourly resistance Oct 20

*PRICE: Y88.59 @ 2000GMT

*SUP 1: Y88.37 - Low Oct 19

*SUP 2: Y88.20 - 21-DMA

*SUP 3: Y87.79 - Daily Bull channel base

*SUP 4: Y87.67 - 55-DMA

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

follow through remains lacking. Support layers are starting to build with bears

needing a close below the 21-DMA (Y88.23) to confirm an easing of bullish

pressure and to shift focus back to Y87.23-79 where the 55-DMA and bull channel

base are situated. Bulls still 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$1.5040 @ 2000GMT

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

*SUP 2: A$1.4976 - 55-DMA 

*SUP 3: A$1.4973 - Daily Bull channel base 

*SUP 4: A$1.4899 - 100-DMA

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

key A$1.4899-1.4976 support region where 55 & 100-DMAs and the bull channel base

are. Bulls still need 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: 94.476 Resistance Key This Week

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

*RES 3: 93.797 - High Oct 18 

*RES 2: 93.844 - High Oct 9 

*RES 1: 93.797 - High Oct 18

*PRICE: 93.701 @ 2030GMT

*SUP 1: 93.517 - Hourly support Oct 20

*SUP 2: 93.347 - Hourly support Oct 20A

*SUP 3: 93.055 - Low Oct 19

*SUP 4: 92.935 - 55-DMA

*COMMENTARY: Bulls take comfort in support emerging on dips back towards the

55-DMA last week and the index pressuring the week's highs Friday. The

94.158-476 resistance region is key. Bulls need a close above 94.476 to confirm

a break of the 100-DMA (94.158) and to shift immediate focus to 95.167-464.

Layers of support are again building. Bears need a close below 93.547 to ease

bullish pressure and below 92.724 to shift focus lower.

EURO-DOLLAR TECHS: Capped Ahead Of Key Resistance

*RES 4: $1.1880 High Oct 12 

*RES 3: $1.1858 High Oct 19 

*RES 2: $1.1826 Hourly resistance Oct 20 

*RES 1: $1.1790 Hourly resistance Oct 20a

*PRICE: $1.1759 @ 1930GMT

*SUP 1: $1.1731 Low Oct 18 

*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: Rallies the past two weeks have remained capped ahead of the daily

bears channel top with the pair ending the week on a heavy note with immediate

focus on $1.1731 to start the new week. Bears need a close below $1.1731 to

reconfirm focus on $1.1583-1.1669. Resistance layers building are weighing with

layers of resistance $1.1826-80 key. Bulls continue to look for a close above

$1.1880 to shift focus back to $1.2033.

DOLLAR-YEN TECHS: Immediate Focus On Y114.49

*RES 4: Y117.53 High Jan 9 

*RES 3: Y115.62 High Jan 19 

*RES 2: Y115.34 Falling LT weekly TL 

*RES 1: Y114.49 Monthly High July 11

*PRICE: Y113.87 @ 1930GMT

*SUP 1: Y113.26 Hourly support Oct 20 

*SUP 2: Y113.06 Hourly support Oct 20a 

*SUP 3: Y112.74 Hourly resistance Oct 19 now support 

*SUP 4: Y112.30 Low Oct 19

*COMMENTARY: Support on dips below the 21-DMA (Y112.58) last week resulted in a

bullish close Friday and a gapping move higher to start the new week that sees

immediate focus on Y114.49 July highs. Bulls now look for a close above Y114.49

to pressure the Y115.34-115.62 region where further monthly highs are noted.

Bears now look for a close below Y113.06 to ease immediate bullish pressure and

below Y112.30 to shift focus back to Y110.96-111.73 where key DMAs are noted.

SPOT GOLD TECHS: Bears Need Close Below 100-DMA

*RES 4: $1298.3 - Alternating hourly support/resistance 

*RES 3: $1296.9 - 55-DMA 

*RES 2: $1291.1 - Hourly resistance Oct 19 

*RES 1: $1285.9 - Hourly resistance Oct 20

*PRICE: $1280.8 @ 0930GMT

*SUP 1: $1275.4 - 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 ($1246.4) and 200-DMA ($1257.9) are noted. Bulls now

look for a close above $1291.1to 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]