MNI Asian Morning FX Technical Analysis

4 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: $0.7736 - 55-DMA

*RES 3: $0.7730 - High Nov 2

*RES 2: $0.7692 - 200-DMA

*RES 1: $0.7644 - High Nov 28

*PRICE: $0.7597 @ 2000GMT

*SUP 1: $0.7550 - Low Dec 1 

*SUP 2: $0.7535 - Bollinger band base 

*SUP 3: $0.7519 - Low June 9 

*SUP 4: $0.7410 - Low June 5

*COMMENTARY: Despite remaining heavy bears have failed to produce the close

below $0.7519 needed to reconfirm focus on tests of $0.7319-32 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 ($0.7591) and 21-DMA

($0.7612), shifting immediate bullish focus to the 200-DMA and then $0.7730-68

with the 55-DMA at $0.7736.

KIWI TECHS: Below 2017 Lows To Target $0.6559-0.6728

*RES 4: $0.6979 - Monthly High Nov 9 

*RES 3: $0.6965 - Bollinger band top 

*RES 2: $0.6945 - High Nov 28 

*RES 1: $0.6901 - Daily Bear channel top

*PRICE: $0.6864 @ 2030GMT

*SUP 1: $0.6840 - Hourly support Dec 1

*SUP 2: $0.6817 - Low Dec 1

*SUP 3: $0.6801 - Bollinger band base

*SUP 4: $0.6781 - 2017 Low Nov 17

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

sees focus on the $0.6781-0.6817 support region. Bears need a close below 2017

lows to shift focus to $0.6559-0.6728 where daily and weekly bear channel bases

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

need a close above $0.6944 to shift focus to $0.6979-0.7048 where the 55-DMA

($0.7010) is noted.

AUSSIE-KIWI TECHS: NZ$1.0904-62 Support Region Key Today

*RES 4: NZ$1.1240 - High Oct 26

*RES 3: NZ$1.1185 - High Nov 1

*RES 2: NZ$1.1139 - High Nov 14

*RES 1: NZ$1.1093 - High Dec 1

*PRICE: NZ$1.1048 @ 2030GMT

*SUP 1: NZ$1.1028 - 55-DMA

*SUP 2: NZ$1.0962 - Daily Bull channel base

*SUP 3: NZ$1.0951 - 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 resulted in 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$1.0818) is noted.

AUSSIE-YEN TECHS: Bulls Need Close Above 200-DMA

*RES 4: Y86.58 - High Nov 15 

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

*RES 2: Y85.91 - 200-DMA 

*RES 1: Y85.79 - 21-DMA

*PRICE: Y85.68 @ 2030GMT

*SUP 1: Y84.94 - Low Dec 1

*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 last week and focus on the close above the 200-DMA needed to

confirm an easing of bearish pressure. Overall a close above Y86.58 is needed to

confirm a return in focus to Y87.28-67 where 55 & 100-DMAs and the bear channel

top are situated. The Y84.94 support is key today. Bears need a close below to

ease pressure on the 200-DMA and retain initial focus on Y84.33.

EURO-AUSSIE TECHS: A$1.5565 Support Remains Key 

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

*RES 3: A$1.5771 - 2017 High Dec 1

*RES 2: A$1.5730 - Hourly resistance Dec 1

*RES 1: A$1.5681 - Hourly support Dec 1 now resistance

*PRICE: A$1.5608 @ 2000GMT

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

*SUP 2: A$1.5504 - Low Nov 23 

*SUP 3: A$1.5462 - 21-DMA 

*SUP 4: A$1.5447 - Low Nov 15

*COMMENTARY: A bearish key day reversal Friday provides bears confidence but a

close below A$1.5565 remains needed to target a correction back to

A$1.5392-1.5462 where the 21-DMA is located. Layers of resistance were left in

the wake Friday with bulls now needing a close above A$1.5687 to ease pressure

on A$1.5565 and above A$1.5774 to confirm focus on tests of 2017 highs.

Correcting O/B Slow Stochastic study adds weight to the bearish case.

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: 93.591 - 55-DMA 

*RES 1: 93.245 - High Dec 1

*PRICE: 92.892 @ 2030GMT

*SUP 1: 92.604 - Low Dec 1

*SUP 2: 92.496 - Low Nov 27

*SUP 3: 91.781 - Low Sept 22

*SUP 4: 91.526 - Low Oct 19

*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 93.836-165 where the 21-DMA is located. Correcting O/S studies

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

EURO-DOLLAR TECHS: 55-DMA Support Key This Week

*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: $1.1867 @ 1930GMT

*SUP 1: $1.1831 Daily Bull channel base 

*SUP 2: $1.1813 Hourly support Nov 23 

*SUP 3: $1.1771 55-DMA 

*SUP 4: $1.1713 Low Nov 21

*COMMENTARY: $1.1813 confirmed significance with Thursday's bounce retaining the

integrity of the daily bull channel base. Topside follow through has been

lacking with the pair correcting back towards the bull channel base. The 55-DMA

is key support this week. Bears need a close below the 55-DMA to confirm an

easing of bullish pressure and below $1.1690 to confirm initial focus on $1.1552

Nov lows. Above $1.1961 is needed to confirm focus on $1.2033-92.

DOLLAR-YEN TECHS: Above 55-DMA To Target Y114.72

*RES 4: Y114.72 High Nov 6 

*RES 3: Y114.42 Hourly resistance Nov 6a 

*RES 2: Y114.07 High Nov 9 

*RES 1: Y113.33 High Nov 16

*PRICE: Y112.77 @ 1930GMT

*SUP 1: Y111.82 Hourly support Dec 1 

*SUP 2: Y111.35 Low Nov 29 

*SUP 3: Y110.83 Monthly Low Nov 27 

*SUP 4: Y110.74 Bollinger band base

*COMMENTARY: Friday saw a recovery from a dip below the 200-DMA (Y111.68) to

flirt with the 55-DMA (Y112.74). Bulls take comfort in Friday's bounce with

focus remaining on Y113.33. Bulls need a close above this level to add support

to the case for a move initially targeting Y114.72 Nov highs. Bears look for a

close below Y111.82 to ease pressure on resistance layers and below Y110.83 to

end bullish hopes, initially targeting Y109.52 with overall focus on 2017 lows.

EURO-YEN TECHS: Bears Need Close Below 21-DMA

*RES 4: Y136.40 High Oct 21 2015

*RES 3: Y135.84 Low Oct 21 2015 now resistance

*RES 2: Y134.50 2017 High Oct 25

*RES 1: Y134.05 Hourly support Dec 1 now resistance

*PRICE: Y133.74 @ 1930GMT

*SUP 1: Y133.51 Hourly resistance Dec 1 now support 

*SUP 2: Y132.91 Low Dec 1 

*SUP 3: Y132.72 55-DMA 

*SUP 4: Y132.56 21-DMA

*COMMENTARY: The rejection ahead of 2017 highs is less than ideal for bulls who

currently look for a close above current 2017 highs 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. The 21-DMA is key support today. Bears

need a close below the 21-DMA to return pressure to the Y130.59-71 region where

the bull channel base off Aug lows and 100-DMA (Y131.55) are situated.

SPOT GOLD TECHS: Oct Lows Remain Key Support

*RES 4: $1299.1 - High Nov 27 

*RES 3: $1296.5 - Bollinger band top 

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

*RES 1: $1289.3 - High Dec 1

*PRICE: $1280.1 @ 2030GMT

*SUP 1: $1269.9 - Low Nov 14 

*SUP 2: $1268.4 - Bollinger band base 

*SUP 3: $1266.7 - 200-DMA 

*SUP 4: $1263.1 - Daily Bull channel base

*COMMENTARY: Pressure returning to the $1260.2-1269.9 region where the 200-DMA.

bull channel base off Dec 20 2916 lows and Bollinger base are situated has so

far failed to produce a break lower. Bears still 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 now need a close above $1289.3 to ease bearish pressure.

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

[TOPICS: MTABLE]