MNI Asian Morning FX Technical Analysis

20 November 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Pressuring 100-WMA

*RES 4: $0.7695 - 200-DMA

*RES 3: $0.7666 - Bear channel top

*RES 2: $0.7609 - High Nov 16

*RES 1: $0.7579 - Hourly support Nov 17 now resistance

*PRICE: $0.7556 @ 2030GMT

*SUP 1: $0.7543 - 100-WMA 

*SUP 2: $0.7519 - Low June 9 

*SUP 3: $0.7456 - Weekly bull channel base 

*SUP 4: $0.7425 - Daily bull channel base

*COMMENTARY: Hesitation ahead of the 200-DMA is recent weeks retains the

integrity of the daily bear channel with pressure currently on the

$0.7456-0.7543 region where the 100-WMA and channel bases are situated. Bears

need a close below $0.7519 to retain the bearish bias and below the weekly bull

channel base to target $0.7319-65. Bulls now look for a close above $0.7609 to

gain breathing room and hint at a correction back to $0.7666-0.7729.

KIWI TECHS: Focus On Daily Bear Channel Base

*RES 4: $0.6979 - High Nov 9 

*RES 3: $0.6908 - Daily Bear channel top 

*RES 2: $0.6890 - 21-DMA 

*RES 1: $0.6835 - Low Nov 16 now resistance

*PRICE: $0.6791 @ 2030GMT

*SUP 1: $0.6779 - 2017 Low Nov 17

*SUP 2: $0.6674 - Monthly Low May 30 2016

*SUP 3: $0.6620 - Daily Bear channel base

*SUP 4: $0.6543 - Low Feb 16 2016

*COMMENTARY: The failure around the 21-DMA in past week's retained the integrity

of the bear channel top, resulting in fresh 2017 and 18mth lows Friday leaving

the pair looking heavy and bears focused on the daily bear channel base. The

Bollinger base ($0.6802) is the key concern for bears and limits follow through.

Bulls now need above $0.6835 to gain breathing room and above the bear channel

top to shift focus to $0.6979-0.7048.

AUSSIE-KIWI TECHS: Below NZ$1.0984 Initially Targets 100-DMA

*RES 4: NZ$1.1240 - High Oct 26

*RES 3: NZ$1.1185 - High Nov 1

*RES 2: NZ$1.1139 - High Nov 14

*RES 1: NZ$1.1116 - 21-DMA

*PRICE: NZ$1.1091 @ 2030GMT

*SUP 1: NZ$1.1032 - 55-DMA

*SUP 2: NZ$1.0984 - Low Nov 15

*SUP 3: NZ$1.0903 - 100-DMA

*SUP 4: NZ$1.0821 - Low Sept 21

*COMMENTARY: The break of the NZ$1.0992 support lacked follow through with the

pair failing to gain traction below the 55-DMA. Bears now look for a close below

NZ$1.0984 to confirm a bearish bias and initially target the 100-DMA. The

NZ$1.139 resistance is now key. Bulls need a close above to confirm a break of

the 21-DMA, ending bearish hopes and shifting focus back to tests of 2017 highs

(NZ$1.1290).

AUSSIE-YEN TECHS: Bears Focused On 100-WMA

*RES 4: Y86.12 - Hourly resistance Nov 15 

*RES 3: Y86.00 - 200-DMA 

*RES 2: Y85.45 - Hourly support Nov 17 now resistance 

*RES 1: Y85.05 - Hourly resistance Nov 17

*PRICE: Y84.77 @ 2030GMT

*SUP 1: Y84.65 - Low Nov 17

*SUP 2: Y83.72 - Low June 22

*SUP 3: Y83.21 - 100-WMA

*SUP 4: Y82.92 - Low June 15

*COMMENTARY: Losses defined last week with the pair distancing itself from the

200-DMA and immediate focus having shifted to the 100-WMA. Bears now look for a

close below this level to target 2017 lows (Y81.49). O/S daily studies and the

Bollinger base (Y85.30) remain key concerns for bears and hint the move is a

little overdone. In saying that, bulls need a close above the 200-DMA to ease

bearish pressure.

EURO-AUSSIE TECHS: Above A$1.5774 Targets 2016 High 

*RES 4: A$1.6244 - 2016 High Feb 11 2016

*RES 3: A$1.5968 - High Feb 12 2016

*RES 2: A$1.5774 - High Feb 17 2016

*RES 1: A$1.5656 - 2017 High Nov 17, Bull channel top

*PRICE: A$1.5576 @ 2000GMT

*SUP 1: A$1.5559 - High Nov 16 now support 

*SUP 2: A$1.5530 - Hourly support Nov 17 

*SUP 3: A$1.5447 - Low Nov 15 

*SUP 4: A$1.5392 - Monthly High Oct 26 now support

*COMMENTARY: Failure to trouble the 55-DMA (A$1.5093) in recent weeks retained

the integrity of the daily bull channel base (A$1.5138) and resulted in gains

testing the bull channel top. The A$1.5774 resistance is now key with bulls

needing a close above to confirm focus on tests of 2016 highs. Layers of support

remain with bears needing a close below A$1.5530 to ease immediate bullish

pressure and below A$1.5392 to shift focus back to the 21-DMA (A$1.5252).

US DOLLAR-INDEX TECHS: 55-DMA Supporting For Now

*RES 4: 95.167 - High July 20 

*RES 3: 94.650 - High Nov 10 

*RES 2: 94.347 - 21-DMA 

*RES 1: 93.998 - High Nov 16

*PRICE: 93.662 @ 2030GMT

*SUP 1: 93.372 - 55-DMA

*SUP 2: 93.055 - Low Oct 19

*SUP 3: 92.724 - High Sept 25 now support

*SUP 4: 91.781 - Low Sept 22

*COMMENTARY: Losses defined last week with the close below the 21-DMA seeing

pressure back on key supports. Bears continue to look for a close below the

55-DMA to add weight to the case for a move back to 2017 lows although a close

below 92.724 remains needed to confirm. Bulls need a close above the 21-DMA to

ease bearish pressure and above 94.650 to shift focus back to 95.167-464.

EURO-DOLLAR TECHS: $1.1880 Resistance Key To Further Gains

*RES 4: $1.2033 High Sept 20 

*RES 3: $1.1880 High Oct 12

*RES 2: $1.1861 High Nov 15 

*RES 1: $1.1822 High Nov 17

*PRICE: $1.1780 @ 1930GMT

*SUP 1: $1.1758 Low Nov 16 

*SUP 2: $1.1747 100-DMA 

*SUP 3: $1.1728 Hourly resistance Nov 14 now support 

*SUP 4: $1.1687 21-DMA

*COMMENTARY: The break of the bear channel top and 100-DMA last week saw a

rally, only to remain capped ahead of the previously noted $1.1880 resistance.

Bulls continue to look for a close above this level to confirm traction above

the 55-DMA ($1.1789) and initially target $1.2033. Daily studies approaching O/B

is less than ideal and the Bollinger top ($1.1842) currently limits topside

follow through. Bears need a close below the 21-DMA to target $1.1554.

DOLLAR-YEN TECHS: Y111.48 & Y112.72 Levels Key Today

*RES 4: Y113.49 21-DMA 

*RES 3: Y113.33 High Nov 16 

*RES 2: Y112.72 Low Nov 16 now resistance

*RES 1: Y112.34 55-DMA

*PRICE: Y112.05 @ 1930GMT

*SUP 1: Y111.71 100-DMA 

*SUP 2: Y111.65 Low Oct 16 

*SUP 3: Y111.48 Low Sept 25 

*SUP 4: Y110.40 100-WMA

*COMMENTARY: Losses last week resulted in a close below the 55-DMA with

immediate focus on Y111.48-74 where 100 & 200-DMAs are situated. Bears look for

a close below Y111.48 to confirm a break of 100 & 200-DMAs with initial focus

shifting to Y109.52 and overall focus to Y107.30 2017 lows. The 55-DMA is seen

as initial resistance but bulls look for a close above Y112.72 to ease bearish

pressure and shift initial focus to Y113.33-49 where the 21-DMA is noted.

SPOT GOLD TECHS: Closes Above 55-DMA

*RES 4: $1320.0 - High Sept 18 

*RES 3: $1313.6 - High Sept 26 

*RES 2: $1306.0 - High Oct 16 

*RES 1: $1297.0 - Hourly Nov 17

*PRICE: $1294.3 @ 2030GMT

*SUP 1: $1289.1 - High Nov 15 now support 

*SUP 2: $1281.9 - Hourly support Nov 17 

*SUP 3: $1275.0 - Low Nov 16 

*SUP 4: $1269.9 - Low Nov 14

*COMMENTARY: Having found support ahead of the 200-DMA ($1264.4) in recent weeks

bulls take comfort in Friday's close above the 55-DMA ($1292.5) with focus now

having shifted to layers of resistance $1306.0-1320.0. Initial support is noted

at $1289.1 with bears needing a close below to ease bullish pressure and hint at

a correction back to $1257.6-1264.4 where the bull channel base and 200-DMA are

noted.

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

[TOPICS: MTABLE]