MNI Asian Morning FX Technical Analysis

1 December 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: $0.7619 - 21-DMA

*RES 1: $0.7601 - Daily Bear channel top

*PRICE: $0.7565 @ 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 $0.7319-42 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 $0.7750.

KIWI TECHS: Below 2017 Lows To Target $0.6569-0.6730

*RES 4: $0.6968 - Bollinger band top 

*RES 3: $0.6945 - High Nov 28 

*RES 2: $0.6875 - Low Nov 29 now resistance 

*RES 1: $0.6851 - Alternating hourly support/resistance

*PRICE: $0.6835 @ 2030GMT

*SUP 3: $0.6820 - Low Nov 22

*SUP 4: $0.6804 - Bollinger band base

*SUP 3: $0.6781 - 2017 Low Nov 17

*SUP 4: $0.6730 - Weekly Bear channel base

*COMMENTARY: Topside hesitation around $0.6945 left the pair looking heavy and

sees focus back on the $0.6781-0.6820 support region. Bears need a close below

2017 lows to shift focus to $0.6569-0.6730 where daily and weekly bear channel

bases are situated. Daily studies are well placed for a fresh leg lower. Bulls

now need a close above $0.6875 to ease immediate bearish pressure and above

$0.6944 to shift focus to $0.6979-0.7048 where the 55-DMA ($0.7025) is noted.

AUSSIE-KIWI TECHS: Bullish Focus Returns To NZ$1.1139 Resistance

*RES 4: NZ$1.1291 - 2017 High Oct 25

*RES 3: NZ$1.1240 - High Oct 26

*RES 2: NZ$1.1185 - High Nov 1

*RES 1: NZ$1.1139 - High Nov 14, Bollinger band top

*PRICE: NZ$1.1067 @ 2030GMT

*SUP 1: NZ$1.1035 - High Nov 29 now support

*SUP 2: NZ$1.1028 - 55-DMA

*SUP 3: NZ$1.0947 - 100-DMA

*SUP 4: NZ$1.0904 - Low Oct 17

*COMMENTARY: The lack of follow through and support emerging on dips back to the

100-DMA have resulted in likely closes above 21 & 55-DMAs that see immediate

focus back on NZ$1.1139. Bulls need a close above NZ$1139 to shift focus to

tests of 2017 highs. Daily studies are well placed for further gains. Bears now

need a close below the 55-DMA to ease bullish pressure and below NZ$1.0904 to

initially target NZ$1.0798-1.0827 where the 200-DMA (NZ$1.0816) is noted.

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

*RES 4: Y86.58 - High Nov 15 

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

*RES 2: Y85.91 - 200-DMA 

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

*PRICE: Y85.10 @ 2030GMT

*SUP 1: Y84.98 - Hourly support Nov 30

*SUP 2: Y84.65 - Low Nov 30

*SUP 3: Y84.33 - Low Nov 27

*SUP 4: Y83.71 - Low June 22

*COMMENTARY: O/S daily studies appear to be impacting with the pair finding

support on dips this week and focus shifting to the Y85.45 resistance. The

Y85.45-85.68 resistance region remains key. 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 Y87.34-72 where 55 & 100-DMAs are noted. Bears now look for a

close below Y84.65 to retain immediate focus on Y84.33.

EURO-AUSSIE TECHS: Bulls Now Targeting A$1.6250 2016 Highs 

*RES 4: A$1.6250 - 2016 High Feb 11

*RES 3: A$1.5968 - High Feb 12 2016

*RES 2: A$1.5840 - Bollinger band top

*RES 1: A$1.5774 - High Feb 17 2016

*PRICE: A$1.5730 @ 2000GMT

*SUP 1: A$1.5696 - High Nov 24 now support 

*SUP 2: A$1.5601 - Alternating hourly support/resistance 

*SUP 3: A$1.5565 - High Nov 22 now support 

*SUP 4: A$1.5504 - Low Nov 23

*COMMENTARY: The A$1.5565 support confirmed significance with the bounce from

this level resulting in a likely close above previous 2017 highs (A$1.5696) and

bullish focus now on the $1.5968-1.6250 region where 2016 highs are located.

Daily studies at modestly O/B levels is less than ideal. In saying that, bears

now need a close below A$1.5696 to ease immediate bullish pressure and below

A$1.5565 to target a correction back to A$1.5392-1.5447.

US DOLLAR-INDEX TECHS: 55-DMA Caps, Index Looks Offered

*RES 4: 94.178 - Hourly resistance Nov 14 

*RES 3: 93.962 - High Nov 22 

*RES 2: 93.574 - 55-DMA 

*RES 1: 93.122 - Hourly resistance Nov 30

*PRICE: 93.020 @ 2030GMT

*SUP 1: 92.930 - Hourly support Nov 30

*SUP 2: 92.279 - Low Nov 30

*SUP 3: 92.496 - Low Nov 27

*SUP 4: 91.781 - Low Sept 22

*COMMENTARY: Bears take comfort in the 55-DMA capping the recovery from 92.496

and the index left looking offered. Bears continue to look for a close below

92.496 to add weight to the case for a test of 2017 lows although initially

focus shifts to 91.526-781. Bulls still need a close above the 55-DMA to shift

initial focus to 93.921-165 where the 21-DMA (93.921) is located. Correcting O/S

studies remain the key concern for bears but the 55-DMA remains key.

EURO-DOLLAR TECHS: Bull Channel Base Supports

*RES 4: $1.2092 2017 High Sept 8

*RES 3: $1.2037 Daily Bull channel top

*RES 2: $1.1961 High Nov 27

*RES 1: $1.1931 High Nov 30

*PRICE: $1.1892 @ 2000GMT

*SUP 1: $1.1884 High Nov 29 now support 

*SUP 2: $1.1817 Daily Bull channel base 

*SUP 3: $1.1813 Hourly support Nov 23 

*SUP 4: $1.1749 21-DMA

*COMMENTARY: The $1.1813 level confirmed significance with Thursday's bounce

retaining the integrity of the daily bull channel base. Immediate focus is now

on $1.1961 with a close above to see bulls targeting $1.2031-92 where the bull

channel top is noted. Bears now look for a close below $1.1813 to ease immediate

bullish pressure and below $1.1690 to confirm traction below key DMAs and shift

focus to tests of $1.1552 Nov lows.

DOLLAR-YEN TECHS: 200-DMA Now Supporting

*RES 4: Y114.07 High Nov 9 

*RES 3: Y113.33 High Nov 16 

*RES 2: Y112.75 21-DMA 

*RES 1: Y112.70 55-DMA

*PRICE: Y112.59 @ 2000GMT

*SUP 1: Y112.28 Hourly support Nov 30 

*SUP 2: Y111.68 200-DMA 

*SUP 3: Y111.35 Low Nov 29 

*SUP 4: Y110.83 Monthly Low Nov 27

*COMMENTARY: The break of the 200-DMA was reinforced with the 200-DMA providing

the base for an aggressive bounce that sees pressure  on 21 & 55-DMAs. Bulls now

need a close above the 21-DMA to end bearish hopes, shifting immediate focus to

Y113.33 and overall focus to tests of Y114.74 Nov highs. Initial support is

noted at Y112.28 with bears needing a close below to gain breathing room but

below the 200-DMA remains needed to return pressure to Y110.83 Nov lows.

EURO-YEN TECHS: Initial Focus On 2017 High

*RES 4: Y136.95 Monthly High Oct 9 2015

*RES 3: Y136.40 High Oct 21 2015

*RES 2: Y135.84 Low Oct 21 2015 now resistance

*RES 1: Y134.50 2017 High Oct 25

*PRICE: Y133.96 @ 2000GMT

*SUP 1: Y133.31 Hourly resistance Nov 30 now support 

*SUP 2: Y132.65 Hourly support Nov 30 

*SUP 3: Y132.48 21-DMA 

*SUP 4: Y131.71 Low Nov 28

*COMMENTARY: Support emerging on dips back to the 100-DMA has now provided the

base for a likely close above Y133.23 that sees immediate bullish focus back on

tests of 2017 highs. Bulls now need a close above Y134.50 to shift overall focus

to the Y139.02-141.04 region last seen in 2015. Bulls will need a close above

Y136.95 to add support to their case. Bears now look for a close below Y133.31

to ease pressure on 2017 highs and target a correction back to Y130.59-131.71.

SPOT GOLD TECHS: Pressure On Channel Base & 200-DMA

*RES 4: $1299.1 - High Nov 27 

*RES 3: $1293.6 - Hourly support Nov 29 now resistance 

*RES 2: $1288.4 - Hourly resistance Nov 29 

*RES 1: $1285.4 - High Nov 30

*PRICE: $1274.8 @ 2030GMT

*SUP 1: $1269.9 - Low Nov 14 

*SUP 2: $1267.9 - Bollinger band base 

*SUP 3: $1266.6 - 200-DMA 

*SUP 4: $1263.4 - Daily Bull channel base

*COMMENTARY: Pressure on the 21-DMA ($1282.2) took its toll with a break below

that sees immediate focus back on the $1260.2-1269.9 region where the 200-DMA.

bull channel base off Dec 20 2916 lows and Bollinger base are situated. Bears

now need a close below $1243.4 to confirm focus on retests of 2017 lows. Daily

studies are well placed for a fresh leg lower. Bulls need a close above $1288.4

to ease bearish pressure.

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

[TOPICS: MTABLE]