MNI Asian Morning FX Technical Analysis

25 October 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: 21 & 100-DMAs Capping

*RES 4: $0.7856 - Hourly resistance Oct 20a

*RES 3: $0.7834 - High Oct 23

*RES 2: $0.7826 - 21-DMA, 100-DMA

*RES 1: $0.7796 - Low Oct 23 now resistance

*PRICE: $0.7780 @ 2030GMT

*SUP 1: $0.7765 - Low Oct 11 

*SUP 2: $0.7754 - Bollinger band base 

*SUP 3: $0.7733 - Low Oct 6 

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

*COMMENTARY: Bears gain confidence as the pair remains capped by 21 & 100 DMAs

with immediate 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 $0.7834

to ease bearish pressure and below the 55-DMA to end bearish hopes and shift

initial focus back to $0.7986.

KIWI TECHS: Bears Focused On 2017 Low

*RES 4: $0.7119 - Low Oct 18 now resistance 

*RES 3: $0.7056 - Hourly resistance Oct 19 

*RES 2: $0.7007 - Hourly resistance Oct 20 

*RES 1: $0.6940 - Hourly resistance Oct 24

*PRICE: $0.6902 @ 2000GMT

*SUP 1: $0.6886 - Low Oct 24

*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 looking for a weekly close

below. Bears remain focused on tests of 2017 lows. Daily studies have room to

move but the Bollinger base ($0.6940) 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 $0.7119-57 where the 200-DMA is noted.

AUSSIE-KIWI TECHS: March Towards Bull Channel Top Resumes

*RES 4: NZ$1.1410 - 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$1.1280 @ 2000GMT

*SUP 1: NZ$1.1204 - Hourly support Oct 24

*SUP 2: NZ$1.1163 - Low Oct 24

*SUP 3: NZ$1.1149 - Hourly support Oct 19

*SUP 4: NZ$1.1144 - High Sept 7 now support

*COMMENTARY: Topside hesitation has come to an end with bulls regaining control

and focus reconfirmed on tests of NZ$1.1328-1.1429 where 2015 highs and the bull

channel top are situated. The Bollinger top (NZ$1.1235) remains the key concern

for bulls with potential to limit follow through. The NZ$1.1092-1.1163 support

region is now key. Bears need a close below NZ$1.1144 to gain breathing room and

below NZ$1.1092 to shift focus back to NZ$1.0946-1.1025.

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: Y89.01 - Bollinger band top

*PRICE: Y88.55 @ 2000GMT

*SUP 1: Y88.37 - Low Oct 19

*SUP 2: Y88.17 - 21-DMA

*SUP 3: Y87.92 - Daily Bull channel base

*SUP 4: Y87.71 - 55-DMA

*COMMENTARY: Topside follow through has been lacking so far this week with the

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

close below the 21-DMA to confirm an easing of bullish pressure and to shift

focus back to Y87.08-92 where the 55-DMA and bull channel base are situated.

Below the 55-DMA hints at a move back to Y85.45-93 with below the 100-DMA

(Y87.08) to confirm.

EURO-AUSSIE TECHS: Focus Returns to A$1.5178-1.5239 

*RES 4: A$1.5364 - High June 16 2016

*RES 3: A$1.5298 - High June 20 2016

*RES 2: A$1.5239 - 2017 High Oct 11

*RES 1: A$1.5178 - Hourly resistance Oct 12

*PRICE: A$1.5116 @ 2000GMT

*SUP 1: A$1.5097 - Hourly support Oct 24 

*SUP 2: A$1.5087 - High Oct 20 now support 

*SUP 3: A$1.5008 - Low Oct 23 

*SUP 4: A$1.4991 - Daily Bull channel base

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

key A$1.4900-1.4991 support region where 55 & 100-DMAs and the bull channel base

are situated. Bulls still need close above A$1.5105 to confirm a shift in focus

to tests of 2017 highs. Bears now look for a close below A$1.5087 to ease

immediate bullish pressure and return focus to A$1.4900-97 with 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: 94.101 - 100-DMA 

*RES 1: 94.045 - Bollinger band top

*PRICE: 93.873 @ 2030GMT

*SUP 1: 93.682 - Low Oct 24

*SUP 2: 93.517 - Hourly support Oct 20

*SUP 3: 93.347 - Hourly support Oct 20A

*SUP 4: 93.055 - Low Oct 19

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

55-DMA (92.949) last week although hesitation ahead of the 100-DMA is a concern.

94.101-476 resistance region is key. Bulls need a close above 94.476 to confirm

a break of the 100-DMA and to shift immediate focus to 95.167-464. Layers of

support are again building. Bears need a close below 93.682 to ease bullish

pressure and below 92.724 to confirm a break of the 55-DMA & shift focus lower.

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

*RES 4: $1.1858 High Oct 19 

*RES 3: $1.1829 Daily Bear channel top 

*RES 2: $1.1826 Hourly resistance Oct 20 

*RES 1: $1.1793 High Oct 24

*PRICE: $1.1766 @ 1930GMT

*SUP 1: $1.1742 Low Oct 24 

*SUP 2: $1.1725 Low Oct 23 

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

*SUP 4: $1.1669 Low Oct 6

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

bear channel top with focus having shifted to layers of support $1.1583-1.1669.

Bulls look for a close above the 21-DMA ($1.1780) to gain breathing room. The

$1.1826-80 resistance region remains key. Bulls need a close above $1.1880 to

confirm a break of the bear channel top ($1.1829) & 55-DMA ($1.1840) 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: Y113.66 @ 1930GMT

*SUP 1: Y113.25 Low Oct 24 

*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: Bulls take comfort in support emerging ahead of Y112.30-113.06 with

pressure back on Y114.09-49. Bulls look for a close above Y114.49 to pressure

Y115.34-115.62 where further monthly highs are noted. The Bolli top (Y113.54)

remains the key concern for bulls and limits follow through. Bears continue to

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: Supported Below 100-DMA For Now

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

*RES 3: $1297.8 - 55-DMA 

*RES 2: $1291.1 - Hourly resistance Oct 19 

*RES 1: $1285.9 - Hourly resistance Oct 20

*PRICE: $1277.3 @ 2030GMT

*SUP 1: $1275.3 - 100-DMA 

*SUP 2: $1272.5 - Low Oct 23 

*SUP 3: $1270.7 - Hourly support Oct 6 

*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 ($1247.6) and 200-DMA ($1258.7) are noted. Bulls need 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]