MNI Asian Morning FX Technical Analysis

8 November 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Pressuring Key Support

*RES 4: $0.7747 - Daily Bear Channel Top

*RES 3: $0.7739 - Hourly resistance Oct 25

*RES 2: $0.7700 - High Nov 7

*RES 1: $0.7647 - Hourly support Nov 7 now resistance

*PRICE: $0.7642 @ 2030GMT

*SUP 1: $0.7622 - Low Oct 27 

*SUP 2: $0.7591 - Bollinger band base 

*SUP 3: $0.7564 - Low June 26 

*SUP 4: $0.7506 - Daily Bear channel base

*COMMENTARY: Hesitation ahead of the $0.7622 support remains a concern for bears

given daily studies looking to correct from O/S. Bears continue to look for a

close below $0.7622 to add weight to the case for a test of $0.7506-64 where the

channel base is located. O/S studies remain the key concern for bears. Bulls

still need a close above the channel top ($0.7747) to shift focus to

$0.7837-0.7909 where 100 & 55-DMAs are situated.

KIWI TECHS: Correcting O/S Daily Studies

*RES 4: $0.7007 - Hourly resistance Oct 20 

*RES 3: $0.6984 - 21-DMA 

*RES 2: $0.6958 - High Nov 6 

*RES 1: $0.6914 - Hourly support Nov 7 now resistance

*PRICE: $0.6905 @ 2030GMT

*SUP 1: $0.6875 - Low Nov 6

*SUP 2: $0.6831 - Low Oct 31

*SUP 3: $0.6816 - 2017 Low May 11 & Oct 27

*SUP 4: $0.6667 - Low Mar 28 2016

*COMMENTARY: Topside follow through is still lacking following the pair

remaining capped ahead of Monday's high and looking a little heavy as immediate

pressure returns to $0.6875. Bears need a close below $0.6875 to retain focus on

the channel base ($0.6716). Bulls now need a close above $0.6958 to gain

breathing room and above $0.7050 to shift focus to $0.7117-39 where 200 &

55-DMAs are situated.

AUSSIE-KIWI TECHS: Bears Focused On Channel Base

*RES 4: NZ$1.1291 - 2017 High Oct 25

*RES 3: NZ$1.1240 - High Oct 26

*RES 2: NZ$1.1170 - High Nov 2

*RES 1: NZ$1.1126 - High Nov 6

*PRICE: NZ$1.1070 @ 2030GMT

*SUP 1: NZ$1.1047 - Low Nov 3

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

*SUP 3: NZ$1.1023 - 55-DMA

*SUP 4: NZ$1.1017 - Daily Bull channel base

*COMMENTARY: The closes below the 21-DMA (NZ$1.1099) leave the pair looking

heavy and focus having returned to NZ$1.1003-25 where the daily bull channel

base and 55-DMA are situated. Bears now need a close below NZ$1.1003 to end

bullish hopes and shift immediate focus to NZ$1.0900. Bulls still need a close

above NZ$1.1126 to ease bearish pressure and above NZ$1.1170 to shift focus back

to NZ$1.1240-91.

AUSSIE-YEN TECHS: Y86.54 Support Key This Week

*RES 4: Y88.37 - Low Oct 19 now resistance, Channel top 

*RES 3: Y88.09 - High Nov 2 

*RES 2: Y87.72 - Alternating hourly support/resistance 

*RES 1: Y87.27 - Hourly support Nov 7 now resistance

*PRICE: Y87.01 @ 2030GMT

*SUP 1: Y86.93 - Low Nov 1

*SUP 2: Y86.54 - Low Sept 26

*SUP 3: Y86.02 - Daily Bear channel base

*SUP 4: Y85.99 - 200-DMA

*COMMENTARY: The recovery from last week's low faltered Friday, failing to

trouble the bear channel and looking heavy closing back below the 100-DMA

(Y87.46). Focus has returned to the Y85.45-86.54 support region where the

200-DMA (Y85.99) and channel base are noted. Bulls continue to look for a close

above the bear channel top to shift initial focus to Y89.06 and overall focus to

2017 highs. Modestly O/S studies are the key concern for bears.

EURO-AUSSIE TECHS: Bears Need Close Below 55-DMA 

*RES 4: A$1.5298 - Alternating hourly support/resistance

*RES 3: A$1.5255 - High Oct 27

*RES 2: A$1.5235 - High Oct 31

*RES 1: A$1.5206 - High Nov 3

*PRICE: A$1.5160 @ 2000GMT

*SUP 1: A$1.5148 - Hourly support Nov 7 

*SUP 2: A$1.5122 - Hourly resistance Nov 7 now support 

*SUP 3: A$1.5080 - Low Nov 7 

*SUP 4: A$1.5073 - Daily Bull channel base*COMMENTARY: The dramatic sell-off

after trading at fresh 2017 and 16mth highs continues to flirt with the 21-DMA

(A$1.5120) as key supports lurk below. Bears need a close below 55-DMA

(A$1.5027) to end bullish hopes and hint at a move back to A$1.4790 with below

the 100-DMA to confirm. Layers of resistance remain with bulls needing a close

above A$1.5255 to shift focus back to 2017 highs and a close above to target the

channel top (A$1.5587).

US DOLLAR-INDEX TECHS: O/B Daily Studies Looking To Correct

*RES 4: 95.685 - Daily Bull channel top 

*RES 3: 95.464 - Low July 13 now resistance 

*RES 2: 95.167 - High July 20 

*RES 1: 95.149 - High Nov 7

*PRICE: 94.940 @ 2030GMT

*SUP 1: 94.834 - Alternating hourly support/resistance

*SUP 2: 94.700 - Hourly support Nov 7

*SUP 3: 94.408 - Low Nov 3

*SUP 4: 94.267 - High Oct 6 now support

*COMMENTARY: Topside follow through is still lacking with the index remaining

capped ahead of 95.167. Bulls continue to look for a close above this level to

reconfirm a bullish bias and initially target the bull channel top. Layers of

support remain but 94.267 remains key. Bears need a close below the 94.267 to

initially pressure 100 & 21-DMAs and below the 100-DMA to shift focus to

92.724-93.477. Overall below 92.724 is needed to target 2017 lows.

EURO-DOLLAR TECHS: Bears Focused On Channel Base

*RES 4: $1.1690 High Nov 3 

*RES 3: $1.1639 Hourly support Nov 3 now resistance 

*RES 2: $1.1624 High Nov 6 

*RES 1: $1.1601 Hourly support Nov 7 now resistance

*PRICE: $1.1584 @ 2000GMT

*SUP 1: $1.1554 Low Nov 7 

*SUP 2: $1.1541 Bollinger band base 

*SUP 3: $1.1474 Daily bear channel base 

*SUP 4: $1.1369 High July 5 now support

*COMMENTARY: Bears took comfort in the 100-DMA capping  last week with focus

currently on the bear channel base ($1.1474). O/S daily studies and the

Bollinger band base ($1.1541) remain key concerns for bears with a close below

$1.1554 now needed to add weight to their case. Layers of resistance remain with

bulls needing a close above $1.1624 to ease immediate bearish pressure and above

the channel top ($1.1749) to shift focus to $1.1816-80.

DOLLAR-YEN TECHS: Bears Need Close Below Y113.52

*RES 4: Y115.62 High Jan 19 

*RES 3: Y115.15 Falling LT weekly TL 

*RES 2: Y114.72 Hourly resistance Nov 6 

*RES 1: Y114.42 Hourly resistance Nov 6a

*PRICE: Y113.89 @ 2000GMT

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

*SUP 2: Y113.22 21-DMA 

*SUP 3: Y112.95 Low Oct 31 

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

*COMMENTARY: The break of the key Y114.49 resistance lacked follow through with

the closes back below Y114.00 negating the break and leaving the pair looking

heavy as focus remains on Y112.95-113.52. Overall bears need a close below

Y112.95 confirm a break of the 21-DMA and confirm focus on Y111.46-112.30. Bulls

now look for a close above Y115.62 to shift focus to tests of 2017 highs. Daily

studies are well placed for a fresh leg lower.

US DOLLAR-INDEX TECHS: O/B Daily Studies Looking To Correct

*RES 4: 95.685 - Daily Bull channel top 

*RES 3: 95.464 - Low July 13 now resistance 

*RES 2: 95.167 - High July 20 

*RES 1: 95.149 - High Nov 7

*PRICE: 94.940 @ 2030GMT

*SUP 1: 94.834 - Alternating hourly support/resistance

*SUP 2: 94.700 - Hourly support Nov 7

*SUP 3: 94.408 - Low Nov 3

*SUP 4: 94.267 - High Oct 6 now support

*COMMENTARY: Topside follow through is still lacking with the index remaining

capped ahead of 95.167. Bulls continue to look for a close above this level to

reconfirm a bullish bias and initially target the bull channel top. Layers of

support remain but 94.267 remains key. Bears need a close below the 94.267 to

initially pressure 100 & 21-DMAs and below the 100-DMA to shift focus to

92.724-93.477. Overall below 92.724 is needed to target 2017 lows.

SPOT GOLD TECHS: Bulls Need Close Above $1284.1

*RES 4: $1299.6 - Bollinger band top 

*RES 3: $1295.9 - 55-DMA 

*RES 2: $1291.1 - Hourly resistance Oct 19 

*RES 1: $1284.1 - High Nov 2

*PRICE: $1275.8 @ 2030GMT

*SUP 1: $1271.8 - Low Nov 7 

*SUP 2: $1265.2 - Low Nov 3 

*SUP 3: $1262.2 - 200-DMA 

*SUP 4: $1260.6 - Monthly Low Oct 6

*COMMENTARY: Hesitation ahead of the 200-DMA continues which is less than ideal

for bears as pressure returns to the $1284.1 resistance. Bulls need a close

above $1284.1 to shift initial focus to $1291.1-1295.9 where the 55-DMA is found

and above $1306.0 to initially target $1320.0. Bears continue to look for a

close below the 200-DMA to add weight to their case for a test of the bull

channel base ($1253.1).

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

[TOPICS: MTABLE]