MNI Asian Morning FX Technical Analysis

9 November 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: $0.7622 Support Remains Key

*RES 4: $0.7768 - Low Oct 24 now resistance

*RES 3: $0.7739 - Hourly resistance Oct 25

*RES 2: $0.7737 - Daily Bear channel top

*RES 1: $0.7697 - 200-DMA

*PRICE: $0.7678 @ 2030GMT

*SUP 1: $0.7622 - Low Oct 27 

*SUP 2: $0.7584 - Bollinger band base 

*SUP 3: $0.7564 - Low June 26 

*SUP 4: $0.7496 - 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 $0.7496-0.7564 where

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

now need a close above $0.7768 to shift focus to $0.7838-0.7909 where 100 &

55-DMAs are situated.

KIWI TECHS: $0.7007-50 Resistance Region Key

*RES 4: $0.7050 - Low Oct 9 now resistance 

*RES 3: $0.7007 - Hourly resistance Oct 20 

*RES 2: $0.6977 - 21-DMA 

*RES 1: $0.6958 - High Nov 6

*PRICE: $0.6928 @ 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 with immediate pressure on $0.6875.

Bears need a close below $0.6875 to retain focus on the channel base ($0.6704).

Bulls now need a close above $0.7007 to ease bearish pressure and above $0.7050

to shift focus to $0.7117-38 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$1.1083 @ 2030GMT

*SUP 1: NZ$1.1047 - Low Nov 3

*SUP 2: NZ$1.1025 - Previous key res now support, 55-DMA

*SUP 3: NZ$1.1024 - Daily Bull channel base

*SUP 4: NZ$1.0992 - High Oct 18 now support

*COMMENTARY: The closes below the 21-DMA (NZ$1.1104) leave the pair looking

heavy and focus having returned to NZ$1.0992-1.1025 where the daily bull channel

base and 55-DMA are situated. Bears now need a close below NZ$1.0992 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 & Y88.37 Levels Now Key

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

*RES 3: Y88.31 - Daily Bear Channel Top 

*RES 2: Y88.09 - High Nov 2 

*RES 1: Y87.72 - Alternating hourly support/resistance

*PRICE: Y87.37 @ 2030GMT

*SUP 1: Y86.93 - Low Nov 1

*SUP 2: Y86.54 - Low Sept 26

*SUP 3: Y86.00 - 200-DMA

*SUP 4: Y85.96 - Daily Bear Channel Base

*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

(Y87.49). Focus has returned to the Y85.45-86.54 support region where the

200-DMA and channel base are noted. Bulls now look for a close above Y88.37 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$1.5235 - High Oct 31

*RES 3: A$1.5206 - High Nov 3

*RES 2: A$1.5175 - High Nov 7

*RES 1: A$1.5125 - Hourly resistance Nov 8

*PRICE: A$1.5099 @ 2000GMT

*SUP 1: A$1.5080 - Low Nov 7, Daily Bull channel base 

*SUP 2: A$1.5030 - 55-DMA 

*SUP 3: A$1.4941 - 100-DMA, 21-WMA 

*SUP 4: A$1.4790 - Monthly Low Sept 21

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

continues to flirt with the 21-DMA (A$1.5116) as key supports lurk below. Bears

need a close below 55-DMA to end bullish hopes and hint at a move back to

A$1.4790 with below the 100-DMA/21-WMA 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$1.5595).

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

*RES 4: 95.747 - 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: 94.877 @ 2030GMT

*SUP 1: 94.700 - Low Nov 7

*SUP 2: 94.408 - Low Nov 3

*SUP 3: 94.267 - High Oct 6 now support

*SUP 4: 94.060 - 21-DMA

*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 channel base 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: $1.1712 100-DMA 

*RES 3: $1.1690 High Nov 3 

*RES 2: $1.1639 Hourly support Nov 3 now resistance 

*RES 1: $1.1624 High Nov 6

*PRICE: $1.1594 @ 2000GMT

*SUP 1: $1.1554 Low Nov 7 

*SUP 2: $1.1526 Bollinger band base 

*SUP 3: $1.1466 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 on

the bear channel base ($1.1466). O/S daily studies and the Bollinger band base

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

($1.1741) to shift focus to $1.1813-80.

DOLLAR-YEN TECHS: Supported Ahead Of 21-DMA For Now

*RES 4: Y115.15 Falling LT weekly TL 

*RES 3: Y114.72 Hourly resistance Nov 6 

*RES 2: Y114.42 Hourly resistance Nov 6a 

*RES 1: Y114.00 Hourly resistance Nov 7

*PRICE: Y113.79 @ 2000GMT

*SUP 1: Y113.40 Low Nov 8 

*SUP 2: Y113.29 21-DMA 

*SUP 3: Y112.95 Low Oct 31 

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

*COMMENTARY: The break of the Y113.52 support has so far lacked follow through

having bounced from ahead of the 21-DMA. Bears now look for a close below

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

where key DMAs are situated. Layers of resistance remain with bulls needing a

close above Y114.00 to gain breathing room and above Y115.62 to shift focus to

tests of 2017 highs. Daily studies are well placed for a fresh leg lower.

SPOT GOLD TECHS: 55-DMA Resistance Now Key

*RES 4: $1299.2 - Bollinger band top 

*RES 3: $1295.8 - 55-DMA 

*RES 2: $1291.1 - Hourly resistance Oct 19 

*RES 1: $1287.2 - High Nov 8

*PRICE: $1282.3 @ 2030GMT

*SUP 1: $1278.6 - Hourly support Nov 8 

*SUP 2: $1271.8 - Low Nov 7 

*SUP 3: $1265.2 - Low Nov 3 

*SUP 4: $1262.6 - 200-DMA

*COMMENTARY: Hesitation ahead of the 200-DMA has seen pressure on the 21-DMA

($1280.9) and bulls now needing a close above the 55-DMA to hint at a move

initially targeting $1320.0 with above $1306.0 to confirm. The $1243.8 $1265.2

support region where the 200-DMA and channel base ($1253.8) are located remains

key. Bears need a close below $1243.8 to shift initial focus to Sept lows

($1204.6) and overall focus to 2017 lows ($1146.0).

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

[TOPICS: MTABLE]