MNI Asian Morning FX Technical Analysis

30 November 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: $0.7519 Support Remains Key

*RES 4: $0.7692 - 200-DMA

*RES 3: $0.7644 - High Nov 28

*RES 2: $0.7625 - 21-DMA

*RES 1: $0.7582 - Hourly support Nov 29 now resistance

*PRICE: $0.7576 @ 2030GMT

*SUP 1: $0.7550 - Low Nov 29 

*SUP 2: $0.7532 - Low Nov 21 

*SUP 3: $0.7519 - Low June 9 

*SUP 4: $0.7410 - Low June 5

*COMMENTARY: The lack of topside follow through around the 21-DMA resulted in a

move back towards the key $0.7519 support. Bears continue to look for a close

below $0.7519 to reconfirm focus on tests of $0.7319-65 where the daily bear

channel base is situated. The $0.7644 resistance remains key. Bulls need a close

above to confirm a break of the bear channel top and 21-DMA, shifting immediate

bullish focus to the 200-DMA and then $0.7730-68 with the 55-DMA at $0.7758.

KIWI TECHS: Topside Hesitation A Concern for Bulls

*RES 4: $0.7007 - Hourly resistance Oct 20 

*RES 3: $0.6979 - High Nov 9 

*RES 2: $0.6968 - Bollinger band top 

*RES 1: $0.6945 - High Nov 28

*PRICE: $0.6890 @ 2030GMT

*SUP 1: $0.6875 - Low Nov 29

*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 ($0.6889). Bulls now look for a close above

$0.6944 to shift focus to $0.6979-0.7048 where the 55-DMA ($0.7032) is noted.

Bears still need 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: Remains Supported Ahead Of 100-DMA

*RES 4: NZ$1.1185 - High Nov 1

*RES 3: NZ$1.1139 - High Nov 14

*RES 2: NZ$1.1063 - 21-DMA

*RES 1: NZ$1.1035 - High Nov 29

*PRICE: NZ$1.0993 @ 2030GMT

*SUP 1: NZ$1.0977 - Bollinger band base

*SUP 2: NZ$1.0946 - Low Nov 28

*SUP 3: NZ$1.0942 - 100-DMA

*SUP 4: NZ$1.0904 - Low Oct 17

*COMMENTARY: Bears take comfort in closes 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 still 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$1.0814) is noted. The

21-DMA remains key resistance with bulls needing a close above to shift initial

focus back to NZ$1.1139 and overall focus to 2017 highs.

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

*RES 4: Y85.91 - 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: Y84.72 @ 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: O/S daily studies remain the key concern for bears as the pair

consolidates ahead of the weekly low so far. Bears now need a close below Y84.33

to reconfirm the bearish bias, initially pressuring Y83.71. Below the 100-WMA is

needed to confirm focus on 2017 lows (Y81.49). Bulls need a close above Y85.45

to ease bearish pressure and above Y86.58 to confirm breaks of 21 & 200-DMAs,

shifting focus to Y87.40-72.

EURO-AUSSIE TECHS: A$1.5565 Support Confirms Significance 

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

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

*RES 2: A$1.5717 - Daily Bull channel top

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

*PRICE: A$1.5655 @ 2000GMT

*SUP 1: A$1.5601 - Alternating hourly support/resistance 

*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: The A$1.5565 support confirmed significance with the pair bouncing

from this level to return pressure to 2017 highs and the daily bull channel top.

Bulls now look for a close above A$1.5774 to confirm a break of the channel top

and to shift initial focus to tests of A$1.5968. 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 remain a concern for bulls.

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: 93.556 - 55-DMA 

*RES 1: 93.431 - 100-DMA

*PRICE: 93.176 @ 2030GMT

*SUP 1: 92.992 - Low Nov 29

*SUP 2: 92.827 - Low Nov 28

*SUP 3: 92.496 - Low Nov 27

*SUP 4: 91.781 - Low Sept 22

*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

94.006-165 where the 21-DMA (94.006) 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.

SPOT GOLD TECHS: Bears Need Close Below 21-DMA

*RES 4: $1306.0 - High Oct 16 

*RES 3: $1299.1 - High Nov 27 

*RES 2: $1293.6 - Hourly support Nov 29 now resistance 

*RES 1: $1288.4 - Hourly resistance Nov 29

*PRICE: $1284.4 @ 2030GMT

*SUP 1: $1282.3 - 21-DMA 

*SUP 2: $1279.0 - Low Nov 22 

*SUP 3: $1274.9 - Low Nov 20 

*SUP 4: $1269.9 - Low Nov 14

*COMMENTARY: Pressure has returned to the 21-DMA with bears needing a close

below to confirm an easing of bullish pressure and shift focus back to

$1260.2-1266.5 where the bull channel base and 200-DMA are situated. Bulls now

need a close above $1288.4 to ease pressure on the 21-DMA and above $1299.1 to

reconfirm focus on $1306.0-1320.0. Above $1320.0 targets $1357.5 2017 highs.

EURO-DOLLAR TECHS: $1.1884-1.1920 Resistance Key Today

*RES 4: $1.2022 Daily Bull channel top

*RES 3: $1.1961 High Nov 27

*RES 2: $1.1920 High Nov 28

*RES 1: $1.1884 High Nov 29

*PRICE: $1.1862 @ 2000GMT

*SUP 1: $1.1813 Hourly support Nov 23 

*SUP 2: $1.1802 Daily Bull channel base 

*SUP 3: $1.1778 100-DMA 

*SUP 4: $1.1736 21-DMA

*COMMENTARY: Bulls take comfort in the $1.1813 level confirming significance and

the pair bouncing from ahead of the bull channel base. The $1.1690-1.1813

support region remains key with bears needing a close below $1.1690 to target

$1.1553 Nov 7 lows. Bulls now look for a close above $1.1884 to gain breathing

room and above $1.1920 to target $1.1961-1.2033 where the bull channel top is

noted.

DOLLAR-YEN TECHS: A Close Above 200-DMA To Target 21 & 55-DMAs

*RES 4: Y112.92 21-DMA 

*RES 3: Y112.65 55-DMA 

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

*RES 1: Y112.18 Hourly resistance Nov 22, Bear channel top

*PRICE: Y111.85 @ 2000GMT

*SUP 1: Y111.68 200-DMA 

*SUP 2: Y111.35 Low Nov 29 

*SUP 3: Y110.84 Hourly support Nov 24 

*SUP 4: Y110.30 Daily Bear channel base

*COMMENTARY: Pressure returning to the 200-DMA has resulted in a break above

with bulls looking for a close above now to add support to the case for a

correction back to 55 & 21-DMAs. Correcting O/S studies add to the bigger

correction risk. Initial support is now noted at the 200-DMA but bears need a

close below Y111.35 Wednesday lows to signal a false break and reconfirm initial

focus on Y110.30-84 where the bear channel base is situated.

EURO-YEN TECHS: Y133.23 Resistance Remains Key

*RES 4: Y133.88 High Nov 14

*RES 3: Y133.51 Bollinger band top

*RES 2: Y133.23 High Nov 24

*RES 1: Y132.91 Hourly resistance Nov 27

*PRICE: Y132.63 @ 2000GMT

*SUP 1: Y132.38 Hourly resistance Nov 29 now support 

*SUP 2: Y131.71 Low Nov 28 

*SUP 3: Y131.41 100-DMA 

*SUP 4: Y131.21 Low Nov 23

*COMMENTARY: Support emerging on dips back towards the 100-DMA provides bulls

breathing room but the Y133.23 resistance remains key. Bulls need a close above

to gain traction above the 55-DMA (Y132.65) and return initial pressure to

Y133.88-134.50. Bears now need a close below Y132.38 to retain focus on

Y131.21-41 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.

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

[TOPICS: MTABLE]