MNI Asian Morning FX Technical Analysis

10 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: $0.7727 - Daily Bear channel top

*RES 1: $0.7697 - 200-DMA

*PRICE: $0.7682 @ 2030GMT

*SUP 1: $0.7622 - Low Oct 27 

*SUP 2: $0.7577 - Bollinger band base 

*SUP 3: $0.7564 - Low June 26 

*SUP 4: $0.7485 - 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 $0.7485-0.7564 where

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

still need a close above $0.7768 to shift focus to $0.7839-0.7909 where 100 &

55-DMAs are situated.

KIWI TECHS: $0.6980-0.7050 Resistance Region Key

*RES 4: $0.7119 - Low Oct 18 now resistance 

*RES 3: $0.7050 - Low Oct 9 now resistance 

*RES 2: $0.7007 - Hourly resistance Oct 20 

*RES 1: $0.6980 - Daily Bear channel top

*PRICE: $0.6958 @ 2030GMT

*SUP 1: $0.6933 - Hourly support Nov 9

*SUP 2: $0.6914 - Hourly support Nov 8

*SUP 3: $0.6875 - Low Nov 6

*SUP 4: $0.6831 - Low Oct 31

*COMMENTARY: Bulls take comfort in support having emerged on dips this week with

pressure having returned to the $0.6980-0.7050 resistance region. Bulls still

need a close above $0.7007 to confirm a break of the channel top and ease

bearish pressure and above $0.7050 to shift focus to $0.7117-36 where 200 &

55-DMAs are situated. Bears still need a close below $0.6875 to retain focus on

the channel base ($0.6692).

AUSSIE-KIWI TECHS: NZ$1.0992 Support Remains Key

*RES 4: NZ$1.1170 - High Nov 2

*RES 3: NZ$1.1126 - High Nov 6

*RES 2: NZ$1.1097 - High Nov 8

*RES 1: NZ$1.1050 - Alternating hourly support/resistance

*PRICE: NZ$1.1038 @ 2030GMT

*SUP 1: NZ$1.0992 - High Oct 18 now support

*SUP 2: NZ$1.0900 - Hourly resistance Oct 3 now support

*SUP 3: NZ$1.0859 - 100-DMA

*SUP 4: NZ$1.0821 - Low Sept 21

*COMMENTARY: The closes below the 21-DMA (NZ$1.1103) left the pair looking heavy

and focus having returned to NZ$1.0992-1.1031 where the daily bull channel base

and 55-DMA are situated. Bears still 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 Remain Key

*RES 4: Y88.26 - Daily Bear Channel Top 

*RES 3: Y88.09 - High Nov 2 

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

*RES 1: Y87.18 - Hourly resistance Nov 9

*PRICE: Y86.90 @ 2030GMT

*SUP 1: Y86.75 - Low Nov 9

*SUP 2: Y86.54 - Low Sept 26

*SUP 3: Y86.01 - 200-DMA

*SUP 4: Y85.91 - 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

(Y87.52). 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$1.5298 - 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$1.5089 - Daily Bull channel base 

*SUP 2: A$1.5080 - Low Nov 7 

*SUP 3: A$1.5034 - 55-DMA 

*SUP 4: A$1.4945 - 100-DMA, 21-WMA

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

continues to flirt with the 21-DMA (A$1.5113) 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$1.5603).

US DOLLAR-INDEX TECHS: Pressure Back On Key Supports

*RES 4: 95.167 - High July 20 

*RES 3: 94.965 - Hourly resistance Nov 8 

*RES 2: 94.855 - Hourly resistance Nov 9a 

*RES 1: 94.556 - Hourly resistance Nov 9

*PRICE: 94.457 @ 2030GMT

*SUP 1: 94.408 - Low Nov 3

*SUP 2: 94.267 - High Oct 6 now support

*SUP 3: 94.128 - 21-DMA

*SUP 4: 93.788 - 100-DMA

*COMMENTARY: The persistent lack of topside follow through has taken its toll

with a sell-off and likely bearish close that sees pressure back on support

layers. Bears need a close below 94.267 to pressure the channel base, 100 &

200-DMAs and below the channel base to pressure 92.724-93.477. Layers of

resistance are accumulating and weighing with bulls needing a close above 94.965

to return focus to 95.167-464.

EURO-DOLLAR TECHS: Risking Correction To $1.1690-1.1732

*RES 4: $1.1732 Daily Bear channel top 

*RES 3: $1.1725 Low Oct 23 now resistance 

*RES 2: $1.1717 100-DMA 

*RES 1: $1.1690 High Nov 3

*PRICE: $1.1648 @ 2000GMT

*SUP 1: $1.1622 Hourly support Nov 9 

*SUP 2: $1.1579 Low Nov 8 

*SUP 3: $1.1554 Low Nov 7 

*SUP 4: $1.1525 Bollinger band base

*COMMENTARY: The recovery from the week's low so far sees a likely close above

$1.1624 which eases immediate bearish pressure and increases the risk of a

correction back to layers of resistance $1.1690-1.1732 where the bear channel

top is located. Bulls continue to look for a close above the channel top to

shift focus to $1.1810-80 where the 55-DMA is situated. Bears now need a close

back below $1.1622 to return immediate pressure to $1.1554.

DOLLAR-YEN TECHS: Pressure Back On Y112.95

*RES 4: Y114.72 Hourly resistance Nov 6 

*RES 3: Y114.42 Hourly resistance Nov 6a 

*RES 2: Y114.07 High Nov 9 

*RES 1: Y113.69 Hourly resistance Nov 9

*PRICE: Y113.18 @ 2000GMT

*SUP 1: Y112.95 Low Oct 31 

*SUP 2: Y112.74 Hourly resistance Oct 19 now support 

*SUP 3: Y112.30 Low Oct 19 

*SUP 4: Y111.94 55-DMA

*COMMENTARY: Having supported bears take comfort in the likely close below the

21-DMA (Y113.33) that sees pressure on Y112.95. Bears need 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. Bulls now look for a close above Y114.07 to ease bearish

pressure and return focus to Y114.72 above which is needed to reconfirm a

bullish bias and above Y115.62 to shift focus to tests of 2017 highs.

SPOT GOLD TECHS: Support Layers Accumulating

*RES 4: $1306.0 - High Oct 16 

*RES 3: $1298.5 - Bollinger band top 

*RES 2: $1295.8 - 55-DMA 

*RES 1: $1291.1 - Hourly resistance Oct 19

*PRICE: $1287.5 @ 2030GMT

*SUP 1: $1281.7 - Hourly support Nov 9 

*SUP 2: $1278.6 - Hourly support Nov 8 

*SUP 3: $1271.8 - Low Nov 7 

*SUP 4: $1265.2 - Low Nov 3

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

($1280.6) 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 ($1254.2) 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]