MNI Asian Morning FX Technical Analysis

1 November 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: $0.7720-0.7807 Resistance Region Key

*RES 4: $0.7739 - Hourly resistance Oct 25

*RES 3: $0.7720 - Low Oct 11 now resistance

*RES 2: $0.7694 - 200-DMA

*RES 1: $0.7670 - Hourly resistance Oct 31

*PRICE: $0.7657 @ 2000GMT

*SUP 1: $0.7639 - Low Oct 31 

*SUP 2: $0.7622 - Low Oct 27 

*SUP 3: $0.7556 - Daily Bear channel base 

*SUP 4: $0.7564 - Low June 26

*COMMENTARY: Bears dominated last week with the close below the 200-DMA seeing

focus shift to $0.7513-56 where the daily bear channel base is noted. The 55-WMA

comes in at $0.7631 and may slow the move. Overall bears look for a close below

$0.7312 to confirm focus on tests of 2017 lows. Bulls still need a close above

$0.7720 to ease bearish pressure and above the bull channel top ($0.7797) to

pressure the $0.7833-0.7909 region where key DMAs are situated.

KIWI TECHS: Close Above $0.6912 To Ease Bearish Pressure

*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: $0.6882 - Hourly resistance Oct 31

*PRICE: $0.6844 @ 2000GMT

*SUP 1: $0.6816 - 2017 Low May 11 & Oct 27

*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: Bears take additional comfort last week in the weekly close below

the LT bull channel base ($0.6974) and now look for a close below 2017 lows to

shift immediate focus to $0.6667 and overall focus to tests of 2016 lows

($0.6346). O/S daily studies and the Bollinger base ($0.6796) are key concerns

for bears. Layers of resistance are accumulating and weighing with bulls needing

a close above $0.6912 to ease immediate bearish pressure.

AUSSIE-KIWI TECHS: Bears Need Close Below NZ$1.1092

*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$1.1187 @ 2000GMT

*SUP 1: NZ$1.1161 - Hourly support Oct 30

*SUP 2: NZ$1.1135 - Low Oct 30

*SUP 3: NZ$1.1092 - High Sept 15 now support

*SUP 4: NZ$1.1065 - 21-DMA

*COMMENTARY: Bullish confidence grew with last week's rally but the Bollinger

top (NZ$1.1303) remains a concern for bulls recently limiting follow through.

Bears still need a close below NZ$1.1135 to gain breathing room and below

NZ$1.1092 to shift focus back to NZ$1.0982-1.1065 where key DMAs and the bull

channel base are noted. While NZ$1.1135 supports bulls focus on NZ$1.1328-1.1438

where 2015 highs and the bull channel top are situated.

AUSSIE-YEN TECHS: Bulls Now Need Close Above Y87.46

*RES 4: Y87.97 - 21-DMA 

*RES 3: Y87.79 - 55-DMA 

*RES 2: Y87.46 - High Oct 27 

*RES 1: Y87.29 - 100-DMA

*PRICE: Y87.05 @ 2030GMT

*SUP 1: Y86.95 - Hourly resistance Oct 31 now support

*SUP 2: Y86.54 - Low Sept 26

*SUP 3: Y86.30 - Daily Bear channel base

*SUP 4: Y85.96 - 200-DMA

*COMMENTARY: Downside follow through was lacing on fresh 7 week lows for the

pair Tuesday with the Bollinger base (Y86.80) remaining a concern. Layers of

resistance remain with bulls needing a close above Y87.46 to ease bearish

pressure and above the 21-DMA to shift focus back to Y88..40-89.06 where the

daily bear channel top off Sept highs is noted. Bears remain focused on

Y85.45-86.60 while Y87.46 caps.

EURO-AUSSIE TECHS: Finding Support Ahead Of 21-DMA 

*RES 4: A$1.5546 - Daily Bull channel top

*RES 3: A$1.5392 - 2017 High Oct 26

*RES 2: A$1.5298 - Alternating hourly support/resistance

*RES 1: A$1.5255 - High Oct 27

*PRICE: A$1.5215 @ 2000GMT

*SUP 1: A$1.5182 - Hourly support Oct 31 

*SUP 2: A$1.5123 - Low Oct 31 

*SUP 3: A$1.5098 - 21-DMA 

*SUP 4: A$1.5032 - Daily Bull channel base

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

has failed to trouble the 21-DMA with support emerging ahead and the bounce

seeing focus back to A$1.5255 today. Bulls need a close above this level to

initially target 2017 highs and then the daily bull channel top above. Bears

continue to look for a close below the 21-DMA to add weight to their case and

below the 55-DMA (A$1.5003 to shift focus back to A$1.4790 Sept lows.

US DOLLAR-INDEX TECHS: Below 100-DMA Targets Deeper Correction

*RES 4: 95.374 - Daily Bull channel top 

*RES 3: 95.167 - High July 20 

*RES 2: 94.927 - Hourly resistance Oct 27 

*RES 1: 94.703 - High Oct 31

*PRICE: 94.519 @ 2030GMT

*SUP 1: 94.437 - Low Oct 30

*SUP 2: 93.973 - 100-DMA

*SUP 3: 93.714 - 21-DMA

*SUP 4: 93.477 - Low Oct 26

*COMMENTARY: Bulls have failed to capitalise on last week's test of the bull

channel top with the index looking a little heavy having closed back below

94.717. Bears continue to look for a close below the 100-DMA to shift focus to

92.724-93.714. Overall below 92.724 is needed to target 2017 lows. Bulls

continue to look for a close above 95.464 to shift focus to 96.205-97.045 where

the 200-DMA (96.815) is found.

EURO-DOLLAR TECHS: $1.1689-1.1725 Resistance Remains Key

*RES 4: $1.1785 Hourly resistance Oct 26 

*RES 3: $1.1725 Low Oct 23 now resistance 

*RES 2: $1.1689 Hourly support Oct 26 now resistance 

*RES 1: $1.1662 High Oct 31

*PRICE: $1.1652 @ 1930GMT

*SUP 1: $1.1625 Low Oct 31 

*SUP 2: $1.1575 Low Oct 27 

*SUP 3: $1.1514 Daily bear channel base 

*SUP 4: $1.1478 Low July 20

*COMMENTARY: Following the topside failure around the 55-DMA ($1.1830) last week

the pair headed lower with bears focused on $1.1478-1.1575 where the bear

channel base is noted. The weekly close below the 200-WMA ($1.1671) added weight

to the bearish case. The Bollinger base ($1.1620) remains the key concern and

currently limits follow through. Bulls need a close above $1.1689 to ease

bearish pressure and above $1.1725 to target the 55-DMA.

DOLLAR-YEN TECHS: 21-DMA Confirms Significance

*RES 4: Y115.62 High Jan 19 

*RES 3: Y115.24 Falling LT weekly TL 

*RES 2: Y114.49 Monthly High July 11 

*RES 1: Y114.00 Hourly resistance Oct 28

*PRICE: Y113.62 @ 1930GMT

*SUP 1: Y113.52 Alternating hourly support/resistance 

*SUP 2: Y113.22 Hourly support Oct 31 

*SUP 3: Y112.91 21-DMA 

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

*COMMENTARY: Despite looking heavy and pressuring the 21-DMA bears failed to

produce the close below to confirm focus on Y111.32-112.30. The bounce eases

bearish pressure with bulls needing a close above Y114.00 to return immediate

focus to the key Y114.49 level. The 21-DMA is now key support with bears needing

a close below to shift focus back to Y111.37-112.30 where key DMAs are situated.

The Bollinger band top is noted at (Y114.16) and is the key concern.

SPOT GOLD TECHS: Capped Ahead Of 21-DMA

*RES 4: $1296.9 - 55-DMA 

*RES 3: $1291.1 - Hourly resistance Oct 19 

*RES 2: $1283.7 - High Oct 24 

*RES 1: $1280.9 - 21-DMA

*PRICE: $1275.5 @ 2030GMT

*SUP 1: $1267.7 - Low Oct 31 

*SUP 2: $1261.9 - Bollinger band base 

*SUP 3: $1260.3 - 200-DMA 

*SUP 4: $1250.3 - Daily Bull channel base

*COMMENTARY: Hesitation ahead of the 200-DMA is less than ideal for bears who

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

Bulls continue to look for a close above $1283.7 to confirm a break of the

21-DMA, easing bearish pressure & initially correcting back to $1291.1-1296.9

where the 55-DMA is found. Bears now look for a close below the 200-DMA to add

weight to their case.

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

[TOPICS: MTABLE]