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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]