MNI Asian Morning FX Technical Analysis

24 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: $0.7834 - High Oct 23

*PRICE: $0.7802 @ 2030GMT

*SUP 1: $0.7796 - Hourly support Oct 23 

*SUP 2: $0.7765 - Low Oct 11 

*SUP 3: $0.7747 - Bollinger band base 

*SUP 4: $0.7733 - Low Oct 6

*COMMENTARY: Bears gain confidence as the pair trades below 21 ($0.7833) & 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: Bears Focused On 2017 Low

*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: $0.6963 @ 2000GMT

*SUP 1: $0.6932 - Low Oct 23

*SUP 2: $0.6909 - Daily Bear channel base

*SUP 3: $0.6860 - Low May 16

*SUP 4: $0.6816 - 2017 Low May 11

*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. Bears now shift focus to tests of 2017 lows. Daily studies have

rom to move but the Bollinger base ($0.6974) is the key concern for bears. 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: Topside Hesitation Less Than Ideal

*RES 4: NZ$1.1403 - 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$1.1203 @ 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$1.0977) & 55

(NZ$1.0955) 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 Still Lacking

*RES 4: Y89.73 - Hourly support Sept 20 now resistance 

*RES 3: Y89.67 - High Sept 25 

*RES 2: Y89.09 - High Oct 23 

*RES 1: Y89.04 - Bollinger band top

*PRICE: Y88.55 @ 2000GMT

*SUP 1: Y88.37 - Low Oct 19

*SUP 2: Y88.20 - 21-DMA

*SUP 3: Y87.85 - Daily Bull channel base

*SUP 4: Y87.67 - 55-DMA

*COMMENTARY: Topside follow through has been lacking to start the new week with

the break of Y89.00 reversed and leaving the pair looking heavy. Bears need a

close below the 21-DMA (Y88.18) to confirm an easing of bullish pressure and to

shift focus back to Y87.23-85 where the 55-DMA and bull channel base are

situated. Below the 55-DMA hints at a move back to Y85.45-92 with below the

100-DMA (Y87.02) to confirm.

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$1.5050 @ 2000GMT

*SUP 1: A$1.5008 - Low Oct 23 

*SUP 2: A$1.4983 - Daily Bull channel base 

*SUP 3: A$1.4975 - 55-DMA 

*SUP 4: A$1.4899 - 100-DMA

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

key A$1.4899-1.4983 support region where 55 & 100-DMAs and the bull channel base

are situated. 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: 94.476 - Low July 18 now resistance 

*RES 3: 94.267 - High Oct 6 

*RES 2: 94.129 - 100-DMA 

*RES 1: 94.030 - Bollinger band top

*PRICE: 93.910 @ 2030GMT

*SUP 1: 93.799 - Hourly support Oct 23

*SUP 2: 93.679 - Low Oct 23

*SUP 3: 93.517 - Hourly support Oct 20

*SUP 4: 93.347 - Hourly support Oct 20A

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

55-DMA last week and the index closing above last week's high. The 94.129-476

resistance region is key. Bulls need a close above 94.476 to confirm a break of

the 100-DMA (94.129) and to shift immediate focus to 95.167-464. Layers of

support are again building. Bears need a close below 93.679 to ease bullish

pressure and below 92.724 to shift focus lower.

EURO-DOLLAR TECHS: Bears Focused On 1.1583-1.1669

*RES 4: $1.1858 High Oct 19 

*RES 3: $1.1826 Hourly resistance Oct 20 

*RES 2: $1.1790 Hourly resistance Oct 20a 

*RES 1: $1.1763 Hourly resistance Oct 23

*PRICE: $1.1745 @ 1930GMT

*SUP 1: $1.1716 Hourly resistance Oct 6 now support 

*SUP 2: $1.1669 Low Oct 6 

*SUP 3: $1.1661 Low Aug 17 

*SUP 4: $1.1658 100-DMA

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

bear channel top with the pair remaining heavy and focus now having shifted to

layers of support $1.1583-1.1669. Daily studies are well place for further

downside. Resistance layers building are weighing with layers of resistance

$1.1826-80 key. Bulls need a close above $1.1880 to confirm a break of the bear

channel top and shift focus back to $1.2033.

DOLLAR-YEN TECHS: Y112.30-113.06 Support Region Key

*RES 4: Y115.62 High Jan 19 

*RES 3: Y115.34 Falling LT weekly TL 

*RES 2: Y114.49 Monthly High July 11 

*RES 1: Y114.10 High Oct 23

*PRICE: Y113.55 @ 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 (Y112.57) 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 look for a close above Y114.49 to

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

now need 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: Flirting With 100-DMA

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

*RES 3: $1297.4 - 55-DMA 

*RES 2: $1291.1 - Hourly resistance Oct 19 

*RES 1: $1285.9 - Hourly resistance Oct 20

*PRICE: $1281.6 @ 2030GMT

*SUP 1: $1277.9 - Hourly resistance Oct 23 now support 

*SUP 2: $1275.4 - 100-DMA 

*SUP 3: $1272.5 - Low Oct 23 

*SUP 4: $1270.7 - Hourly support 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 ($1247.0) and 200-DMA ($1258.3) are noted. Bulls now

look for a close above $1291.1 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]