MNI Asian Morning FX Technical Analysis

27 November 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: 21-DMA Resistance Key Today

*RES 4: $0.7773 - 55-DMA

*RES 3: $0.7730 - High Nov 2

*RES 2: $0.7694 - 200-DMA

*RES 1: $0.7634 - 21-DMA

*PRICE: $0.7619 @ 2000GMT

*SUP 1: $0.7589 - High Nov 21 now support 

*SUP 2: $0.7552 - Low Nov 22 

*SUP 3: $0.7532 - Low Nov 21 

*SUP 4: $0.7519 - Low June 9

*COMMENTARY: O/S daily studies and a lack of follow through below the Bollinger

base ($0.7547) resulted in a break of $0.7609 last week that sees pressure on

the 21-DMA. Bulls still need a close above the 21-DMA to shift focus to the

200-DMA. Initial support is noted at $0.7589 with a close below to ease pressure

on the 21-DMA. Bears need a close below $0.7519 to reconfirm the bearish bias

and below the weekly bull channel base ($0.7461) to target $0.7319-65.

KIWI TECHS: $0.6918 & $0.6851 Levels Key Today

*RES 4: $0.6979 - High Nov 9 

*RES 3: $0.6965 - Bollinger band top 

*RES 2: $0.6918 - High Nov 21 

*RES 1: $0.6905 - High Nov 24

*PRICE: $0.6875 @ 2030GMT

*SUP 1: $0.6866 - Low Nov 24

*SUP 2: $0.6851 - Hourly support Nov 22

*SUP 3: $0.6820 - Low Nov 22

*SUP 4: $0.6781 - 2017 Low Nov 17

*COMMENTARY: Bears failed to capitalise on recent 2017 and 18mth lows with the

pair flirting with the 21-DMA ($0.6885). Bulls still look for a close above

$0.6918 to confirm a break of key resistance layers and shift focus to

$0.6979-0.7048 where the 55-DMA ($0.7045) is noted. Support layers remain in

place with bears needing a close below $0.6851 to gain breathing room and below

$0.6820 to return pressure to 2017 lows.

AUSSIE-KIWI TECHS: 21-DMA Capping, NZ$1.1139 Resistance Key

*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$1.1089 - 21-DMA

*PRICE: NZ$1.1067 @ 2030GMT

*SUP 1: NZ$1.1031 - 55-DMA

*SUP 2: NZ$1.0984 - Low Nov 15

*SUP 3: NZ$1.0928 - 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 in recent weeks. Bears look for a

close below NZ$1.0984 to confirm a bearish bias and initially target the

100-DMA. The NZ$1.1139 resistance remains key. Bulls need a close above this

level 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: Y85.45-95 Resistance Key This Week

*RES 4: Y86.58 - High Nov 15 

*RES 3: Y86.12 - Hourly resistance Nov 15 

*RES 2: Y85.95 - 200-DMA 

*RES 1: Y85.45 - Hourly support Nov 17 now resistance

*PRICE: Y84.86 @ 2030GMT

*SUP 1: Y84.72 - Low Nov 24

*SUP 2: Y84.48 - Low Nov 20

*SUP 3: Y83.72 - Low June 22

*SUP 4: Y83.18 - 100-WMA

*COMMENTARY: A double daily bottom has been left in place around Y84.48 which is

less than ideal given daily studies looking to correct from very O/S levels. In

saying that, bulls need a close above Y85.45 to ease bearish pressure and above

the 200-DMA to hint at a move back to Y87.49-88.09 where 55 & 100-DMAs are

noted. While Y85.45 caps bears favour a break of Y84.48 but need a close below

the 100-WMA to target 2017 lows (Y81.49).

EURO-AUSSIE TECHS: Bulls Targeting 2016 High 

*RES 4: A$1.5968 - High Feb 12 2016

*RES 3: A$1.5774 - High Feb 17 2016

*RES 2: A$1.5693 - Daily Bull channel top

*RES 1: A$1.5673 - 2017 High Nov 24

*PRICE: A$1.5660 @ 2000GMT

*SUP 1: A$1.5602 - High Nov 20 now support 

*SUP 2: A$1.5565 - High Nov 22 now support 

*SUP 3: A$1.5504 - Low Nov 23

*SUP 4: A$1.5447 - Low Nov 15

*COMMENTARY: Pressure remains on the daily bull channel top with fresh 2017

highs seeing bullish focus shift to 2016 highs (A$1.6244). O/B studies and

Bollinger band top (A$1.5871) are key concerns for bulls. Layers of support

continue to build with bears now needing a close below A$1.5565 to ease bullish

pressure and target a correction back to A$1.5392-1.5447. Bulls now look for a

close above the bull channel top to add support to their case.

US DOLLAR-INDEX TECHS: Bulls Need Close Above 100-DMA

*RES 4: 93.962 - High Nov 22 

*RES 3: 93.512 - 100-DMA 

*RES 2: 93.303 - High Nov 23 

*RES 1: 93.018 - Hourly support Nov 24

*PRICE: 92.782 @ 2030GMT

*SUP 1: 92.675 - Low Nov 24

*SUP 3: 91.781 - Low Sept 22

*SUP 4: 91.526 - Low Oct 19 

*SUP 4: 91.011 - 2017 Low Sept 8

*COMMENTARY: Closes below the 55-DMA (93.500) & 100-DMA resulted in a marginal

break of 92.724 leaving the index looking heavy despite follow through lacking.

Bears now focus on 91.011-781 where 2017 lows are situated. Layers of resistance

are accumulating and weighing. Bulls now need a close above 93.018 to gain

breathing room and above the 100-DMA to shift initial focus to 94.165-650 where

the 21-DMA (94.229) is located.

EURO-DOLLAR TECHS: Focus Shifts To 1.2033-92

*RES 4: $1.2092 2017High Sept 8

*RES 3: $1.2033 High Sept 20

*RES 2: $1.2004 High Sept 22

*RES 1: $1.1978 Daily Bull channel top

*PRICE: $1.1936 @ 1930GMT

*SUP 1: $1.1920 Hourly support Nov 24 

*SUP 2: $1.1880 High Oct 12 now support 

*SUP 3: $1.1836 Low Nov 24 

*SUP 4: $1.1813 Hourly support Nov 23

*COMMENTARY: Gains defined last week with the pair finding support ahead of the

21-DMA ($1.1718) and bulls taking comfort in the close above $1.1880 that sees

focus shift to $1.2033-1.2092 where 2017 highs are situated. O/B daily studies

and Bollinger top ($1.1928) are concerns for bulls. Bears now need a close below

$1.1880 to ease bullish pressure and below $1.1813 to shift focus back to

$1.1690-1.1718.

DOLLAR-YEN TECHS: Bulls Still Need Close Above 200-DMA

*RES 4: Y112.18 Hourly resistance Nov 22 

*RES 3: Y111.87 Low Nov 20 now resistance 

*RES 2: Y111.70 200-DMA 

*RES 1: Y111.62 100-DMA

*PRICE: Y111.49 @ 1930GMT

*SUP 1: Y111.27 Hourly support Nov 24 

*SUP 2: Y111.07 Low Nov 23 

*SUP 3: Y110.87 Low Sept 18 

*SUP 4: Y110.22 100-WMA

*COMMENTARY: Following closes below 100 & 200-DMAs last week bulls continue to

look for a close above the 200-DMA to ease bearish pressure and above Y112.72 to

shift initial focus to Y113.01-33 where the 21-DMA (Y113.01) is noted. While the

200-DMA caps bears remain focused on Y110.22-87 where the 100-WMA is located. A

close below Y110.87 hints at a move back to Y107.31 with below the 100-WMA

confirming.

SPOT GOLD TECHS: Bulls Still Need Close Above $1297.0

*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: $1287.8 @ 2030GMT

*SUP 1: $1285.8 - Low Nov 24 

*SUP 2: $1279.0 - Low Nov 22 

*SUP 3: $1274.9 - Low Nov 20 

*SUP 4: $1269.9 - Low Nov 14

*COMMENTARY: Bulls took comfort in the bounce from $1274.9 returning pressure to

$1297.0. Bulls continue to look for a close above $1297.0 to confirm a break of

the 55-DMA ($1287.5) and confirm focus on $1306.0-1320.0. Bears now need a close

below $1285.8 to ease pressure on $1297.0 and below $1274.9 to shift pressure

back to $1260.2-1265.7 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]