MNI Asian Morning FX Technical Analysis

29 November 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bulls Need Close Above $0.7644

*RES 4: $0.7765 - 55-DMA

*RES 3: $0.7730 - High Nov 2

*RES 2: $0.7693 - 200-DMA

*RES 1: $0.7644 - High Nov 28

*PRICE: $0.7596 @ 2030GMT

*SUP 1: $0.7587 - Low Nov 28 

*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 ($0.7544) resulted in a break of $0.7609 last week that saw pressure on the

21-DMA. Topside follow through above the 21-DMA ($0.7629) 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

$0.7694-0.7768. Bears need a close below $0.7519 to reconfirm the bearish bias.

KIWI TECHS: Topside Follow Through Lacking

*RES 4: $0.7007 - Hourly resistance Oct 20 

*RES 3: $0.6979 - High Nov 9 

*RES 2: $0.6970 - Bollinger band top 

*RES 1: $0.6945 - High Nov 28

*PRICE: $0.6906 @ 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 trading above the 21-DMA ($0.6888). 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 $0.6896 to gain

breathing room and below $0.6851 to return pressure to 2017 lows and then

$0.6674.

AUSSIE-KIWI TECHS: Support Emerging Ahead Of 100-DMA

*RES 4: NZ$1.1185 - High Nov 1

*RES 3: NZ$1.1139 - High Nov 14

*RES 2: NZ$1.1072 - 21-DMA

*RES 1: NZ$1.1029 - 55-DMA

*PRICE: NZ$1.0993 @ 2030GMT

*SUP 1: NZ$1.0979 - Bollinger band base

*SUP 2: NZ$1.0957 - Low Nov 28

*SUP 3: NZ$1.0938 - 100-DMA, 21-WMA

*SUP 4: NZ$1.0821 - Low Sept 21

*COMMENTARY: Bears took comfort in Monday's close below the 55-DMA but the

Bollinger base is an issue and currently limits follow through as support

emerges ahead of the 100-DMA. Bears now look for a close below the 100-DMA to

add weight to the case for a test of NZ$1.0798-1.0827 where the 200-DMA

(NZ$1.0813) is noted. Bulls now need a close above the 55-DMA to ease bearish

pressure and above the 21-DMA to initially target NZ$1.1139.

AUSSIE-YEN TECHS: Y85.45-86.58 Resistance Region Key

*RES 4: Y85.92 - 200-DMA 

*RES 3: Y85.45 - Hourly support Nov 17 now resistance 

*RES 2: Y85.06 - High Nov 27 

*RES 1: Y84.80 - Hourly support Nov 27a now resistance

*PRICE: Y84.75 @ 2030GMT

*SUP 1: Y84.33 - Low Nov 27

*SUP 2: Y83.71 - Low June 22

*SUP 3: Y83.15 - 100-WMA

*SUP 4: Y82.56 - Low June 12

*COMMENTARY: The double daily bottom around Y84.48 was taken out with the pair

remaining heavy and immediate focus 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 Y87.45-72.

EURO-AUSSIE TECHS: Double Daily Top, Channel Top Capping 

*RES 4: A$1.5709 - Daily Bull channel top

*RES 3: A$1.5696 - 2017 High Nov 24

*RES 2: A$1.5642 - Hourly resistance Nov 28a

*RES 1: A$1.5607 - Hourly resistance Nov 28

*PRICE: A$1.5576 @ 2030GMT

*SUP 1: A$1.5565 - High Nov 22 now support 

*SUP 2: A$1.5504 - Low Nov 23 

*SUP 3: A$1.5447 - Low Nov 15 

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

*COMMENTARY: A double daily top has been left in place following Tuesday's

failure to better Monday's fresh 2017 & 18mth highs with the pair remaining

heavy. Bears continue to look for a close below A$1.5565 to ease bullish

pressure and target a correction back to A$1.5367-1.5447. Correcting O/B studies

add weight to the bearish case. Bulls now need a close above A$1.5642 to retain

focus on A$1.5696-1.5709.

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

*RES 4: 94.178 - Hourly resistance Nov 14 

*RES 3: 93.962 - High Nov 22 

*RES 2: 93.542 - 55-DMA 

*RES 1: 93.458 - 100-DMA

*PRICE: 93.304 @ 2030GMT

*SUP 1: 92.827 - Low Nov 28

*SUP 2: 92.496 - Low Nov 27

*SUP 3: 91.781 - Low Sept 22

*SUP 4: 91.526 - Low Oct 19

*COMMENTARY: Closes below the 55-DMA & 100-DMA resulted in a marginal break of

92.724 but follow through has been lacking. Bulls take comfort in the correction

back towards the 55-DMA but need a close above to shift initial focus to

94.068-165 where the 21-DMA (94.068) is located. While the 55-DMA caps bears

remain focused on 91.011-781 where 2017 lows are situated. Correcting O/S

studies are the key concern for bears and increase correction risk.

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: $1292.6 @ 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 lacked follow through but with the 55-DMA

($1286.2) now supporting bullish focus shifts to $1306.0-1320.0. The Bollinger

top ($1296.6) is the key concern for bulls and limits follow through. Bears need

a close below $1285.8 to ease bullish pressure and below $1274.9 to shift

pressure back to $1260.2-1266.3 where the bull channel base and 200-DMA are

noted.

EURO-DOLLAR TECHS: Focus Back On $1.1774-1.1813

*RES 4: $1.2007 Daily Bull channel top

*RES 3: $1.2004 High Sept 22

*RES 2: $1.1961 High Nov 27

*RES 1: $1.1920 High Nov 28

*PRICE: $1.1832 @ 2000GMT

*SUP 1: $1.1813 Hourly support Nov 23 

*SUP 2: $1.1787 Daily Bull channel base 

*SUP 3: $1.1774 100-DMA 

*SUP 4: $1.1725 21-DMA

*COMMENTARY: Hesitation ahead of the daily bull channel top sees the pair

trading back below $1.1880 with a close below needed to see immediate pressure

shift to $1.1774-1.1813 where the daily bull channel base, 55 & 100-DMAs are

found. Overall bears now need a close below $1.1690 to target $1.1553 Nov 7

lows. Bulls now look for a close above $1.1920 to gain breathing room and above

$1.1961 to target the channel top once more.

DOLLAR-YEN TECHS: Below 100-WMA To Target Y107.31

*RES 4: Y112.63 55-DMA 

*RES 3: Y112.18 Hourly resistance Nov 22 

*RES 2: Y111.87 Low Nov 20 now resistance 

*RES 1: Y111.68 200-DMA

*PRICE: Y111.62 @ 2000GMT

*SUP 1: Y110.84 Hourly support Nov 24 

*SUP 2: Y110.44 Daily Bear channel base 

*SUP 3: Y110.22 100-WMA 

*SUP 4: Y109.52 Low Sept 15

*COMMENTARY: Bearish confidence grew 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

(Y110.76) remain key concerns for bears. Bulls look for a close above the

200-DMA to ease bearish pressure and above the 21-DMA (Y112.89) to shift overall

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

EURO-YEN TECHS: Y133.23 Resistance Now Key

*RES 4: Y133.50 Bollinger band top

*RES 3: Y133.23 High Nov 24

*RES 2: Y132.91 Hourly resistance Nov 27

*RES 1: Y132.62 55-DMA

*PRICE: Y132.00 @ 2000GMT

*SUP 1: Y131.64 Hourly support Nov 23 

*SUP 2: Y131.39 100-DMA 

*SUP 3: Y131.21 Low Nov 23 

*SUP 4: Y130.59 Low Sept 15

*COMMENTARY: Friday's gains have largely been reversed with the close below 21 &

55-DMAs easing renewed bullish pressure and shifting focus back to the key

Y131.21-39 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 Y133.88-134.50.

SPOT GOLD TECHS: 

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

[TOPICS: MTABLE]