MNI Asian Morning FX Technical Analysis

2 November 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Consolidation Below 200-DMA Continues

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

*RES 3: $0.7739 - Hourly resistance Oct 25

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

*RES 1: $0.7694 - 200-DMA

*PRICE: $0.7668 @ 2000GMT

*SUP 1: $0.7639 - Low Oct 31 

*SUP 2: $0.7622 - Low Oct 27 

*SUP 3: $0.7564 - Low June 26 

*SUP 4: $0.7546 - Daily Bear channel base

*COMMENTARY: Bears remain in control with closes below the 200-DMA maintaining

focus on $0.7513-64 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 ($0.7787) to

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

KIWI TECHS: Topside Follow Through Lacking

*RES 4: $0.7007 - Hourly resistance Oct 20 

*RES 3: $0.6940 - Hourly resistance Oct 24 

*RES 2: $0.6930 - High Nov 1 

*RES 1: $0.6906 - Hourly resistance Nov 1

*PRICE: $0.6883 @ 2000GMT

*SUP 1: $0.6831 - Low Oct 31

*SUP 2: $0.6816 - 2017 Low May 11 & Oct 27

*SUP 3: $0.6667 - Low Mar 28 2016

*SUP 4: $0.6543 - Low Feb 16 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 ($0.6783) are key concerns

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

a close above $0.6940 to ease immediate bearish pressure.

AUSSIE-KIWI TECHS: Bounces From 21-DMA, Confirms Significance

*RES 4: NZ$1.1328 - 2016 High Mar 23

*RES 3: NZ$1.1291 - 2017 High Oct 25

*RES 2: NZ$1.1240 - High Oct 26

*RES 1: NZ$1.1161 - Hourly support Oct 30 now resistance

*PRICE: NZ$1.1145 @ 2000GMT

*SUP 1: NZ$1.1074 - 21-DMA

*SUP 2: NZ$1.1025 - Previous key resistance now support

*SUP 3: NZ$1.1005 - 55-DMA

*SUP 4: NZ$1.0989 - Daily Bull channel base

*COMMENTARY: The break of the NZ$1.1092 support has so far lacked follow through

with the pair bouncing from a test of the 21-DMA. Bears now need a close below

the 21-DMA to confirm focus on NZ$1.0989-1.1025 where the daily bull channel

base and 55-DMA are situated. Overall below the channel base is needed to target

NZ$1.0763-1.0827 where 100 & 200-DMAs are found. Bulls now need a close above

NZ$1.1161 to shift focus back to NZ$1.1240-91.

AUSSIE-YEN TECHS: Above 21-DMA to Target Channel Top

*RES 4: Y88.59 - Daily Bear channel top 

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

*RES 2: Y87.97 - 21-DMA 

*RES 1: Y87.79 - 55-DMA

*PRICE: Y87.54 @ 2030GMT

*SUP 1: Y87.31 - Hourly resistance Nov 1 now support

*SUP 2: Y87.16 - Hourly support Nov 1

*SUP 3: Y86.93 - Low Nov 1

*SUP 4: Y86.54 - Low Sept 26

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

pair Tuesday with the Bollinger base (Y86.76) remaining a concern. Layers of

resistance remain with bulls still needing a close above the 21-DMA to shift

focus back to Y88..40-89.06 where the daily bear channel top (Y88.59) off Sept

highs is noted. Bears now look for a close back below Y87.31 to reconfirm focus

on Y85.45-86.24.

EURO-AUSSIE TECHS: A$1.5008-1.5105 Support Region Key 

*RES 4: A$1.5554 - 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$1.5148 @ 2000GMT

*SUP 1: A$1.5115 - Hourly support Nov 1 

*SUP 2: A$1.5105 - 21-DMA 

*SUP 3: A$1.5040 - Daily Bull channel base 

*SUP 4: A$1.5008 - 55-DMA

*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 bounces seeing

focus back to A$1.5255. 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 to

shift focus back to A$1.4790 Sept lows.

US DOLLAR-INDEX: Below 94.437 To Pressure 100-DMA

*RES 4: 95.464 - Low July 13 now resistance 

*RES 3: 95.436 - Daily Bull channel top 

*RES 2: 95.167 - High July 20 

*RES 1: 94.927 - Hourly resistance Oct 27

*PRICE: 94.754 @ 2030GMT

*SUP 1: 94.437 - Low Oct 30

*SUP 2: 93.951 - 100-DMA

*SUP 3: 93.767 - 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 but take comfort in support emerging ahead of the 100-DMA on dips.

Bears need a close below the 100-DMA to shift focus to 92.724-93.457. Overall

below 92.724 is needed to target 2017 lows. Bulls now look for a close 94.927 to

reconfirm focus on 95.167-464 where the bull channel top is situated.

EURO-DOLLAR TECHS: Remains Capped Ahead of 100-DMA

*RES 4: $1.1785 Hourly resistance Oct 26 

*RES 3: $1.1725 Low Oct 23 now resistance 

*RES 2: $1.1690 100-DMA 

*RES 1: $1.1662 High Oct 31

*PRICE: $1.1621 @ 1930GMT

*SUP 1: $1.1575 Low Oct 27 

*SUP 2: $1.1506 Daily bear channel base 

*SUP 3: $1.1478 Low July 20 

*SUP 4: $1.1369 High July 5 now support

*COMMENTARY: Following the topside failure around the 55-DMA ($1.1828) 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 ($1.1601) remains the key concern and

currently limits follow through. Bulls need a close above the 100-DMA to ease

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

DOLLAR-YEN TECHS: Focus Back on Key Resistance

*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: Y114.26 Hourly resistance Nov 1

*PRICE: Y114.13 @ 1930GMT

*SUP 1: Y113.72 High Oct 31 now support 

*SUP 2: Y113.52 Alternating hourly support/resistance 

*SUP 3: Y113.22 Hourly support Oct 31 

*SUP 4: Y112.99 21-DMA

*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 with immediate focus having returned 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 (Y114.32) and is the key concern.

SPOT GOLD TECHS: Remains Capped Ahead Of 21-DMA

*RES 4: $1296.8 - 55-DMA 

*RES 3: $1291.1 - Hourly resistance Oct 19 

*RES 2: $1283.7 - High Oct 24 

*RES 1: $1281.1 - 21-DMA

*PRICE: $1269.5 @ 2030GMT

*SUP 1: $1267.7 - Low Oct 31 & Nov 1 

*SUP 2: $1262.4 - Bollinger band base 

*SUP 3: $1260.6 - 200-DMA 

*SUP 4: $1250.9 - Daily Bull channel base

*COMMENTARY: Hesitation ahead of the 200-DMA was 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 $1291.1-1296.8

where the 55-DMA is found. Bears 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]