MNI Asian Morning FX Technical Analysis

28 November 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Topside Follow Through Lacking

*RES 4: $0.7773 - 55-DMA

*RES 3: $0.7730 - High Nov 2

*RES 2: $0.7694 - 200-DMA

*RES 1: $0.7644 - High Nov 28

*PRICE: $0.7606 @ 2030GMT

*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 ($0.7546) resulted in a break of $0.7609 last week that saw pressure on the

21-DMA. Topside follow through above the 21-DMA ($0.7633) was lacking with bulls

now needing a close above $0.7644 to confirm breaks of the channel top and

21-DMA, shifting immediate focus to the 200-DMA and overall focus to

$0.7694-0.7773. Bears need a close below $0.7519 to reconfirm the bearish bias.

KIWI TECHS: Bears Need Close Below $0.6851

*RES 4: $0.7007 - Hourly resistance Oct 20 

*RES 3: $0.6979 - High Nov 9 

*RES 2: $0.6967 - Bollinger band top 

*RES 1: $0.6926 - High Nov 24

*PRICE: $0.6908 @ 2030GMT

*SUP 1: $0.6896 - Alternating hourly support/resistance

*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 now look for a close above

$0.6926 to shift focus to $0.6979-0.7048 where the 55-DMA ($0.7046) 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 immediate pressure to 2017 lows.

AUSSIE-KIWI TECHS: 21-DMA Capping, Above NZ$1.1139 To Shift Focus Higher

*RES 4: NZ$1.1185 - High Nov 1

*RES 3: NZ$1.1139 - High Nov 14

*RES 2: NZ$1.1082 - 21-DMA

*RES 1: NZ$1.1030 - 55-DMA

*PRICE: NZ$1.1011 @ 2030GMT

*SUP 1: NZ$1.0990 - Bollinger band base

*SUP 2: NZ$1.0984 - Low Nov 15

*SUP 3: NZ$1.0928 - 100-DMA

*SUP 4: NZ$1.0821 - Low Sept 21

*COMMENTARY: As the 21-DMA continues to cap pressure returns to the NZ$1.0984

support. Bears look for a close below NZ$1.0984 to confirm a bearish bias and

initially target NZ$1.0900 with below the 100-DMA (NZ$1.0934) to add weight to

their case. Overall focus shifts to NZ$1.0798-1.0827 on a close below NZ$1.0984.

Bulls now need a close above the 21-DMA to ease bearish pressure and above

NZ$1.1139 to target 2017 highs.

AUSSIE-YEN TECHS: Bears Focused On 100-WMA

*RES 4: Y85.45 - Hourly support Nov 17 now resistance 

*RES 3: Y85.06 - High Nov 27 

*RES 2: Y84.80 - Hourly support Nov 27a now resistance 

*RES 1: Y84.54 - Hourly support Nov 27 now resistance

*PRICE: Y84.46 @ 2030GMT

*SUP 1: Y83.71 - Low June 22

*SUP 2: Y83.15 - 100-WMA

*SUP 3: Y82.56 - Low June 12

*SUP 4: Y81.76 - Monthly Low June 6

*COMMENTARY: The double daily bottom around Y84.48 has been taken out with the

pair remaining heavy and immediate focus now on the Y83.15-71 region where the

100-WMA is situated. Bears continue to look for a close below the 100-WMA to

target 2017 lows (Y81.49). Layers of resistance are building with bulls needing

a close above Y85.45 to ease bearish pressure and above Y86.58 to confirm breaks

of 21 & 200-DMAs, shifting focus to Y87.47-72.

EURO-AUSSIE TECHS: Bears Need Close Below A$1.5565 

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

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

*RES 2: A$1.5701 - Daily Bull channel top

*RES 1: A$1.5696 - 2017 High Nov 24

*PRICE: A$1.5640 @ 2030GMT

*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 on 2016 highs (A$1.6244). O/B studies and Bollinger

band top (A$1.5748) are key concerns for bulls. Layers of support remain with

bears 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.

EURO-DOLLAR TECHS: Below $1.1880 Pressures $1.1772-1.1813

*RES 4: $1.2033 High Sept 20

*RES 3: $1.2004 High Sept 22

*RES 2: $1.1992 Daily Bull channel top

*RES 1: $1.1961 High Nov 27

*PRICE: $1.1899 @ 2000GMT

*SUP 1: $1.1880 High Oct 12 now support 

*SUP 2: $1.1836 Low Nov 24 

*SUP 3: $1.1813 Hourly support Nov 23 

*SUP 4: $1.1772 Daily Bull channel base

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

21-DMA ($1.1717) 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 ($1.1921) are concerns for bulls. Bears need a close below

$1.1880 to ease bullish pressure and shift initial focus back to $1.1772-1.1813

where the bull channel base is noted.

DOLLAR-YEN TECHS: Below 100-WMA Targets Y107.31

*RES 4: Y112.18 Hourly resistance Nov 22 

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

*RES 2: Y111.69 200-DMA 

*RES 1: Y111.46 Hourly resistance Nov 27

*PRICE: Y111.04 @ 2000GMT

*SUP 1: Y110.84 Hourly support Nov 24 

*SUP 2: Y110.60 Daily Bear channel base 

*SUP 3: Y110.22 100-WMA 

*SUP 4: Y109.52 Low Sept 15

*COMMENTARY: Bearish confidence grows with the 200-DMA capping to start the new

week and focus on the 100-WMA. Bears need a close below the 100-WMA to confirm

focus on tests of Y107.31 2017 lows. O/S studies and the Bollinger band base

(Y110.93) remain key concerns for bears. Bulls look for a close above the

200-DMA to ease bearish pressure and above the 21-DMA (Y112.98) to shift overall

focus back to tests of Y114.72 with above Y113.33 confirming.

EURO-YEN TECHS: Focus Back On Key Supports

*RES 4: Y133.23 High Nov 24

*RES 3: Y132.91 Hourly resistance Nov 27

*RES 2: Y132.62 55-DMA

*RES 1: Y132.39 21-DMA

*PRICE: Y132.10 @ 2000GMT

*SUP 1: Y131.93 Hourly support Nov 24 

*SUP 2: Y131.64 Hourly support Nov 23

*SUP 3: Y131.37 100-DMA, 21-WMA 

*SUP 4: Y131.20 Low Nov 23

*COMMENTARY: Friday's gains have largely been reversed with the likely close

below 21 & 55-DMAs easing renewed bullish pressure and shift focus back to the

key Y131.21-37 region where the 100-DMA is noted. Bears need a close below

Y131.21 to end bullish hopes and shift overall focus back to Y127.54 with below

Y130.59 to add weight to their case. Bulls now need a close above Y133.23 to

shift focus back to Y113.88-134.50.

US DOLLAR-INDEX TECHS: Bulls Need Close Above 55-DMA

*RES 4: 93.962 - High Nov 22 

*RES 3: 93.518 - 55-DMA 

*RES 2: 93.303 - High Nov 23 

*RES 1: 93.018 - Hourly support Nov 24

*PRICE: 92.895 @ 2030GMT

*SUP 1: 92.496 - Low Nov 27

*SUP 2: 91.781 - Low Sept 22

*SUP 3: 91.526 - Low Oct 19 

*SUP 4: 91.011 - 2017 Low Sept 8

*COMMENTARY: Closes below the 55-DMA & 100-DMA (93.481) resulted in a marginal

break of 92.724 leaving the index looking heavy Friday. Bears currently focus on

91.011-781 where 2017 lows are situated. Layers of resistance are accumulating

and weighing. Bulls need a close above 93.018 to gain breathing room and above

the 55-DMA to shift initial focus to 94.133-650 where the 21-DMA (94.133) is

located.

SPOT GOLD TECHS: Below $1285.8 To Ease Bullish Pressure

*RES 4: $1320.0 - High Sept 18 

*RES 3: $1313.6 - High Sept 26 

*RES 2: $1306.0 - High Oct 16 

*RES 1: $1299.1 - High Nov 27

*PRICE: $1294.5 @ 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: The break of $1297.0 is lacking a little follow through but wit the

55-DMA ($1286.9) now supporting bullish focus shifts to $1306.0-1320.0. The

Bollinger top ($1295.1) is the key concern for bulls with potential to limit

follow through. Bears need a close below $1285.8 to ease bullish pressure and

below $1274.9 to shift pressure back to $1260.2-1265.9 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]