MNI Asian Morning FX Technical Analysis

5 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: $0.7691 - 200-DMA

*RES 1: $0.7644 - High Nov 28

*PRICE: $0.7596 @ 2030GMT

*SUP 1: $0.7550 - Low Dec 1 

*SUP 2: $0.7534 - 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 ($0.7323) is situated. The $0.7644 resistance remains key.

Bulls need a close above to confirm a break of the bear channel top ($0.7582)

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 $0.6549-0.6728

*RES 4: $0.6965 - Bollinger band top 

*RES 3: $0.6945 - High Nov 28 

*RES 2: $0.6891 - Daily Bear channel top 

*RES 1: $0.6872 - Hourly resistance Dec 5

*PRICE: $0.6847 @ 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 $0.6549-0.6728 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 confirm a break of the channel top & shift focus

to $0.6979-0.7048 where the 55-DMA ($0.7010) is noted.

AUSSIE-KIWI TECHS: NZ$1.0904-67 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$1.1123 - Bollinger band top

*PRICE: NZ$1.1093 @ 2030GMT

*SUP 1: NZ$1.1032 - 55-DMA

*SUP 2: NZ$1.0967 - Daily Bull channel base

*SUP 3: NZ$1.0956 - 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$1.0820) is noted.

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

*RES 4: Y87.22 - 55-DMA 

*RES 3: Y86.58 - High Nov 15 

*RES 2: Y86.12 - Hourly resistance Nov 15 

*RES 1: Y85.89 - 200-DMA

*PRICE: Y85.57 @ 2030GMT

*SUP 1: Y85.47 - Hourly resistance Dec 1 now support

*SUP 2: Y84.94 - Low Dec 1

*SUP 3: Y84.65 - Low Nov 30

*SUP 4: Y84.33 - Low Nov 27

*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 Y87.22-67 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: Bulls Need Close Above A$1.5681 

*RES 4: A$1.5771 - 2017 High Dec 1

*RES 3: A$1.5730 - Hourly resistance Dec 1

*RES 2: A$1.5681 - Hourly support Dec 1 now resistance

*RES 1: A$1.5639 - High Dec 4

*PRICE: A$1.5607 @ 2000GMT

*SUP 1: A$1.5560 - Low Dec 4 

*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 provided bears confidence and

leaves the pair looking heavy on the marginal break of A$1.5565 Monday. A close

below A$1.5560 is now needed to target a correction back to A$1.5392-1.5462.

Layers of resistance were left in the wake Friday with bulls now needing a close

above A$1.5681 to ease pressure on A$1.5560 and above A$1.5774 to confirm focus

on tests of 2017 highs.

US DOLLAR-INDEX TECHS: Capped Ahead Of Key DMAs

*RES 4: 93.962 - High Nov 22 

*RES 3: 93.752 - 21-DMA 

*RES 2: 93.611 - 55-DMA 

*RES 1: 93.362 - 100-DMA

*PRICE: 93.178 @ 2030GMT

*SUP 1: 92.952 - Hourly resistance Dec 1 now support

*SUP 2: 92.604 - Low Dec 1

*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 gently offered. Bears 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 now need a close above the 21-DMA (93.753) to shift

initial focus to 94.165 and overall focus to 95.167-464 where monthly highs are

located.

EURO-DOLLAR TECHS: Below 55-DMA To Hint at Correction

*RES 4: $1.2033 High Sept 20

*RES 3: $1.1961 High Nov 27

*RES 2: $1.1940 High Dec 1

*RES 1: $1.1879 Hourly resistance Dec 4

*PRICE: $1.1855 @ 2000GMT

*SUP 1: $1.1828 Low Dec 5 

*SUP 2: $1.1813 Hourly support Nov 23 

*SUP 3: $1.1771 55-DMA 

*SUP 4: $1.1713 Low Nov 21

*COMMENTARY: The daily bull channel top ($1.2066) capped last week and resulted

in a dip below the channel base ($1.1846) Monday. Bears continue to look for 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. The $1.1961 resistance is

key this week with bulls needing a close above to reconfirm a bullish bias and

focus on $1.2033-92.

DOLLAR-YEN TECHS: Close Below Y112.30 To Ease Bullish Pressure

*RES 4: Y114.42 Hourly resistance Nov 6a 

*RES 3: Y114.07 High Nov 9 

*RES 2: Y113.33 High Nov 16 

*RES 1: Y113.10 High Dec 4

*PRICE: Y112.63 @ 2000GMT

*SUP 1: Y112.30 Hourly resistance Dec 1 now support 

*SUP 2: Y111.82 Hourly support Dec 1 

*SUP 3: Y111.35 Low Nov 29 

*SUP 4: Y110.83 Monthly Low Nov 27

*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 Y113.363 to add support to

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

close below Y112.30 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: Y133.55 @ 0530GMT

*SUP 1: Y132.91 Low Dec 1 

*SUP 2: Y132.72 55-DMA 

*SUP 3: Y132.55 21-DMA 

*SUP 4: Y131.75 Daily Bull channel base

*COMMENTARY: The rejection ahead of 2017 highs Friday was less than ideal for

bulls who currently look for a close above 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 remains key support. Bears need

a close below the 21-DMA to return pressure to the Y130.59-75 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: $1293.6 - Hourly support Nov 29 now resistance 

*RES 2: $1289.3 - High Dec 1 

*RES 1: $1277.9 - Hourly resistance Dec 1

*PRICE: $1275.5 @ 2030GMT

*SUP 1: $1269.9 - Low Nov 14 

*SUP 2: $1268.4 - Bollinger band base 

*SUP 3: $1266.9 - 200-DMA 

*SUP 4: $1263.7 - 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]