MNI Asian Morning FX Technical Analysis

27 October 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Focus Now On $0.7513-86

*RES 4: $0.7765 - Low Oct 11 now resistance

*RES 3: $0.7739 - Hourly resistance Oct 25tance

*RES 2: $0.7720 - Low Oct 11 now resistance

*RES 1: $0.7692 - 200-DMA

*PRICE: $0.7658 @ 2030GMT

*SUP 1: $0.7630 - 55-WMA 

*SUP 1: $0.7586 - Daily Bear channel base 

*SUP 3: $0.7564 - Low June 26 

*SUP 4: $0.7513 - Low June 9

*COMMENTARY: Bears have dominated this week with the close below the 200-DMA

seeing focus shift to $0.7513-86 where the daily bear channel base is noted. The

55-WMA comes in at $0.7630 and may slow the move. Overall bears look for a close

below $0.7312 to confirm focus on tests of 2017 lows. Bulls now need a close

above $0.7720 to ease bearish pressure and above $0.7775 to pressure the

$0.7808-0.7909 region where key DMAs and channel top are situated.

KIWI TECHS: Below 2017 Lows Shifts Overall Focus To 2016 Lows

*RES 4: $0.7007 - Hourly resistance Oct 20 

*RES 3: $0.6940 - Hourly resistance Oct 24 

*RES 2: $0.6912 - High Oct 25 

*RES 1: $0.6860 - Low May 16 now resistance

*PRICE: $0.6835 @ 2000GMT

*SUP 1: $0.6816 - 2017 Low May 11

*SUP 2: $0.6667 - Low Mar 28 2016

*SUP 3: $0.6543 - Low Feb 16 2016

*SUP 4: $0.6409 - Low Jan 21 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 with a close below shifting

immediate focus to $0.6667 and overall focus to tests of 2016 lows at $0.6346.

Layers of resistance are accumulating and weighing with bulls needing a close

above $0.6912 to ease immediate bearish pressure.

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$1.1240 - High Oct 26

*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$1.1277) 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$1.0961-1.1025 where key DMAs and

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

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: Y88.07 - 21-DMA 

*RES 1: Y87.76 - 55-DMA

*PRICE: Y87.38 @ 2030GMT

*SUP 1: Y87.23 - Low Oct 10

*SUP 2: Y87.17 - 100-DMA

*SUP 3: Y86.54 - Low Sept 26, Bear channel base

*SUP 4: Y85.94 - 200-DMA

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

in closes below 55 & 21-DMAs and bull channel base (Y88.04) 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: A$1.5190 Support Now Key 

*RES 4: A$1.5542 - High June 2 2016

*RES 3: A$1.5521 - Daily Bull channel top

*RES 2: A$1.5392 - 2017 High Oct 26

*RES 1: A$1.5298 - Alternating hourly support/resistance

*PRICE: A$1.5331 @ 2000GMT

*SUP 1: A$1.5190 - Hourly support Oct 25a 

*SUP 2: A$1.5138 - High Oct 24 now support 

*SUP 3: A$1.5097 - Hourly support Oct 24 

*SUP 4: A$1.5087 - High Oct 20 now support

*COMMENTARY: The dramatic sell-off after trading at fresh 2017 and 16mth highs

leaves the pair looking very heavy with bears now looking for a close below

A$1.5190 to confirm focus on A$1.4993-1.5007 where the 55-DMA and daily bull

channel base are situated. Overall below the 100-DMA is needed to shift

immediate focus to A$1.4790. Bulls now need a close above A$1.5298 to gain

breathing room and above 2017 highs to reconfirm a bullish bias targeting

A$1.5521-42.

US DOLLAR-INDEX TECHS: Focus Now On 95.167-464

*RES 4: 95.464 - Low July 13 now resistance 

*RES 3: 95.188 - Daily Bull channel top 

*RES 2: 95.167 - High July 20 

*RES 1: 94.717 - High Oct 26

*PRICE: 94.660 @ 2030GMT

*SUP 1: 94.306 - Hourly resistance Oct 26 now support

*SUP 2: 94.047 - 100-DMA

*SUP 3: 93.512 - 21-DMA

*SUP 4: 93.477 - Low Oct 26

*COMMENTARY: The pair dipped below the 21-DMA marginally Thursday before an

aggressive rally saw breaks of key resistance levels and a close above the

100-DMA that confirms bullish focus on 95.167-464 where the daily bull channel

top is noted. Bears now need a close below 94.306 to gain breathing room and

below the 100-DMA to shift focus back to 92.724-93.512. The Bollinger top

(94.290) is the key concern for bulls with potential to limit follow through.

EURO-DOLLAR TECHS: Bears Reconfirm Dominance

*RES 4: $1.1800 Hourly support Oct 25 now resistance 

*RES 3: $1.1785 Hourly resistance Oct 26 

*RES 2: $1.1725 Low Oct 23 now resistance 

*RES 1: $1.1690 Hourly support Oct 26 now resistance

*PRICE: $1.1648 @ 1930GMT

*SUP 1: $1.1611 Low July 26

*SUP 2: $1.1583 High July 18 now support 

*SUP 3: $1.1538 Daily bear channel base 

*SUP 4: $1.1478 Low July 20

*COMMENTARY: The marginal break of the bear channel top remained capped by the

55-DMA ($1.1838) and ahead of the key $1.1880 resistance. The sharp sell-off

leaves the pair looking heavy with the close below the 100-DMA ($1.1673) seeing

bearish focus shift to $1.1478-1.1583 where the daily bear channel base is

found. Layers of resistance add weight to the bearish case with bulls now

needing a close above $1.1725 to ease bearish pressure.

DOLLAR-YEN TECHS: Y112.30-113.06 Support Remains 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: Y114.24 High Oct 25

*PRICE: Y113.95 @ 1930GMT

*SUP 1: Y113.55 Hourly support Oct 26 

*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 top (Y113.94) limiting follow through. The Y112.30-113.06

support remains key. Bears look for a close below Y113.06 to ease bullish

pressure and below Y112.30 to shift focus back to Y111.17-73 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 with the close above Y113.82 adding to confidence.

SPOT GOLD TECHS: Immediate Pressure On 200-DMA

*RES 4: $1291.1 - Hourly resistance Oct 19 

*RES 3: $1283.7 - High Oct 24 

*RES 2: $1281.8 - 21-DMA 

*RES 1: $1270.7 - Hourly support Oct 6 now resistance

*PRICE: $1267.0 @ 2030GMT

*SUP 1: $1263.2 - Bollinger band base 

*SUP 2: $1260.6 - Low Oct 6 

*SUP 3: $1251.0 - Low Aug 8 

*SUP 4: $1248.7 - Daily Bull channel base

*COMMENTARY: Bears take comfort from a close below the 100-DMA that confirms

focus on $1243.8-1260.6 where the 200-DMA and channel base are situated. Bears

now need a close below $1243.8 to shift focus to $1194.9-1204.9 where July lows

are noted. Layers of resistance are weighing with bulls now needing a close

above $1283.7 to ease bearish pressure and hint at a correction back to

$1291.1-1297.3 where the 55-DMA is found.

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

[TOPICS: MTABLE]