MNI Asian Morning FX Technical Analysis

26 October 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Flirting With 200-DMA

*RES 4: $0.7827 - 100-DMA

*RES 3: $0.7796 - Low Oct 23 now resistance

*RES 2: $0.7765 - Low Oct 11 now resistance

*RES 1: $0.7739 - Hourly resistance Oct 25

*PRICE: $0.7699 @ 2030GMT

*SUP 1: $0.7692 - 200-DMA 

*SUP 2: $0.7631 - 55-WMA 

*SUP 3: $0.7564 - Low June 26 

*SUP 4: $0.7513 - Low June 9

*COMMENTARY: Bears have dominated this week resulting in a break of $0.7712 and

pressure on the 200-DMA. Bears look for a close below the 200-WMA and a weekly

close below $0.7712 to shift focus back to $0.7325-0.7431 where the weekly bull

channel base & May lows are situated. The Bollinger base ($0.7727) is the key

concern for bears. Bulls now need a close above $0.7765 to ease bearish pressure

and above $0.7907 to end bearish hopes and shift initial focus 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: $0.6875 @ 2000GMT

*SUP 1: $0.6860 - Low May 16

*SUP 2: $0.6816 - 2017 Low May 11

*SUP 3: $0.6667 - Low Mar 28 2016

*SUP 4: $0.6543 - Low Feb 16 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 ($0.6900) is the key concern for bears. Bulls need a

close above $0.7007 to gain breathing room and above $0.7056 to hint at a

correction back to $0.7099-0.7155 where the 200-DMA is noted.

AUSSIE-KIWI TECHS: NZ$1.1092-1.1144 Support Remains Key

*RES 4: NZ$1.1347 - Monthly High Sept 17 2015

*RES 3: NZ$1.1328 - 2016 High Mar 23

*RES 2: NZ$1.1291 - 2017 High Oct 25

*RES 1: NZ$1.1221 - Hourly resistance Oct 25

*PRICE: NZ$1.1199 @ 2000GMT

*SUP 1: NZ$1.1163 - Low Oct 24

*SUP 2: NZ$1.1149 - Hourly support Oct 19

*SUP 3: NZ$1.1144 - High Sept 7 now support

*SUP 4: NZ$1.1092 - High Sept 15 now support

*COMMENTARY: Bullish confidence grew with Tuesday's tally but the Bollinger top

(NZ$1.1258) remains a concern for bulls and continues to limit follow through.

In saying that, bears still need a close below NZ$1.1144 to gain breathing room

and below NZ$1.1092 to shift focus back to NZ$1.0954-1.1025 where key DMAs and

the bull channel base are noted. While NZ$1.1144 supports bulls focus on the

NZ$1.1328-1.1429 where 2015 highs and the bull channel top are situated.

AUSSIE-YEN TECHS: Bears Need Close Below 100-DMA

*RES 4: Y88.69 - High Oct 24 

*RES 3: Y88.37 - Low Oct 19 now resistance 

*RES 2: Y88.15 - 21-DMA 

*RES 1: Y87.76 - Hourly support Oct 25 now resistance

*PRICE: Y87.57 @ 2030GMT

*SUP 1: Y87.31 - Low Oct 25

*SUP 2: Y87.23 - Low Oct 10

*SUP 3: Y87.13 - 100-DMA

*SUP 4: Y86.54 - Low Sept 26

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

in a likely close below the 55 (Y87.73) & 21 (Y88.13) DMAs and bull channel base

(Y87.98) that sees immediate focus now on the 100-DMA. Bears look for a close

below the 100-DMA to add weight to the case for a move back to Y85.45-94 where

the 200-DMA is noted. Bulls need a close above the 55-DMA to gain breathing room

and above Y88.37 to confirm a correction back to Y89.06.

EURO-AUSSIE TECHS: Above A$1.5364 Targets Bull Channel Top 

*RES 4: A$1.5645 - Monthly High May 24 2016

*RES 3: A$1.5542 - High June 2 2016

*RES 2: A$1.5513 - Daily Bull channel top

*RES 1: A$1.5364 - High June 16 2016

*PRICE: A$1.5331 @ 2000GMT

*SUP 1: A$1.5298 - High June 20 2016 now support 

*SUP 2: A$1.5252 - Hourly support Oct 25 

*SUP 3: A$1.5190 - Hourly support Oct 25a 

*SUP 4: A$1.5138 - High Oct 24 now support

*COMMENTARY: Support around the 55-DMA (A$1.4989) and bull channel base

(A$1.5513) in recent weeks has now provided the base for a move that sees bulls

looking for a close above A$1.5364 to confirm focus on A$1.5513-42 where the

daily bull channel top is noted. Support layers building add to bullish

confidence. Bears now need a close below A$1.5252 to gain breathing room and

below A$1.5190 to shift focus back to the 55-DMA and channel base.

US DOLLAR-INDEX TECHS: Remains Capped Ahead Of 100-DMA

*RES 4: 94.476 - Low July 18 now resistance 

*RES 3: 94.267 - High Oct 6 

*RES 2: 94.070 - 100-DMA 

*RES 1: 94.039 - Bollinger band top

*PRICE: 93.684 @ 2030GMT

*SUP 1: 93.608 - Low Oct 25

*SUP 2: 93.517 - Hourly support Oct 20

*SUP 3: 93.347 - Hourly support Oct 20A

*SUP 4: 93.055 - Low Oct 19

*COMMENTARY: Hesitation ahead of the 100-DMA is a concern for bulls who are

focused on the break of 94.476 needed to confirm a break of the 100-DMA and

shift focus 95.167-464. The break of 93.682 leaves the index looking heavy and

hints at a correction back towards the 55-DMA (92.949). Overall bears need a

close below 92.724 to confirm a break of the 55-DMA and shift focus back to

91.781. Bulls need a close above the 100-DMA to add support to their case.

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

*RES 4: $1.1880 High Oct 12 

*RES 3: $1.1858 High Oct 19 

*RES 2: $1.1826 Hourly resistance Oct 20 

*RES 1: $1.1821 Daily Bear channel top

*PRICE: $1.1800 @ 1930GMT

*SUP 1: $1.1785 Hourly support Oct 25 

*SUP 2: $1.1742 Low Oct 24 

*SUP 3: $1.1725 Low Oct 23 

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

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

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

likely close above the 21-DMA sees bulls gain breathing room but a close above

$1.1880 remains needed to confirm breaks of the channel top and 55-DMA

($1.1840), shifting focus back to $1.2033. Bears now need a close below $1.1800

to ease pressure on key resistance.

DOLLAR-YEN TECHS: Capped Ahead Of Key Resistance

*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: Y114.24 High Oct 25

*PRICE: Y113.71 @ 1930GMT

*SUP 1: Y113.48 Hourly support Oct 25 

*SUP 2: Y113.25 Low Oct 24 

*SUP 3: Y113.06 Hourly support Oct 20a 

*SUP 4: Y112.74 Hourly resistance Oct 19 now support

*COMMENTARY: Hesitation ahead of Y114.49 resistance is less than ideal for bulls

with the Bollinger band top (Y113.75) continuing to limit follow through. Daily

studies still have room to move before O/B is an issue. Bears continue to look

for a close below Y113.06 to ease immediate bullish pressure and below Y112.30

to shift focus back to Y111.08-73 where key DMAs are noted. While Y113.06

supports bulls focus on the break of Y114.49 needed to shift focus to

Y115.34-62.

SPOT GOLD TECHS: Remains Supported Below 100-DMA

*RES 4: $1291.1 - Hourly resistance Oct 19 

*RES 3: $1285.9 - Hourly resistance Oct 20 

*RES 2: $1282.5 - 21-DMA 

*RES 1: $1277.8 - Hourly resistance Oct 25

*PRICE: $1277.4 @ 2030GMT

*SUP 1: $1270.7 - Hourly support Oct 6 

*SUP 2: $1264.6 - Bollinger band base 

*SUP 3: $1260.6 - Low Oct 6 

*SUP 4: $1259.0 - 200-DMA

*COMMENTARY: Yet another dip below the 100-DMA ($1275.1) has again 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 ($1248.1) and 200-DMA ($1259.0)

are noted. Bulls need a close above the 21-DMA 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]