MNI Asian Morning FX Technical Analysis

6 December 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Topside Follow Through Remains Lacking

*RES 4: $0.7691 - 200-DMA

*RES 3: $0.7677 - Bollinger band top

*RES 2: $0.7654 - High Dec 5

*RES 1: $0.7624 - Hourly support Dec 5 now resistance

*PRICE: $0.7606 @ 2030GMT

*SUP 1: $0.7624 - Hourly support Dec 5 

*SUP 2: $0.7578 - Low Dec 4 

*SUP 3: $0.7550 - Low Dec 1 

*SUP 4: $0.7539 - Bollinger band base

*COMMENTARY: The break of the $0.7644 resistance lacked follow through Tuesday

with the correction lower leaving resistance layers in its wake and retaining

focus on the $0.7519-78 support region. Bears look for a close below $0.7519 to

reconfirm focus on $0.7319-84 where the redrawn daily bear channel base

($0.7384) is situated. Overall bulls need a close above $0.7768 to end bearish

hopes and above the 100-DMA ($0.7827) to focus on $0.7906.

KIWI TECHS: Bulls Need Close Above $0.6945

*RES 4: $0.7002 - 55-DMA 

*RES 3: $0.6957 - Bollinger band top 

*RES 2: $0.6945 - High Nov 28 

*RES 1: $0.6911 - High Dec 1

*PRICE: $0.6874 @ 2030GMT

*SUP 1: $0.6869 - Hourly resistance Dec 4 now support

*SUP 2: $0.6840 - Hourly support Dec 1

*SUP 3: $0.6817 - Low Dec 1

*SUP 4: $0.6802 - Bollinger band base

*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 $0.6540-0.6728 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 $0.6945 to confirm a break of the channel top & shift focus

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

AUSSIE-KIWI TECHS: Bollinger Band Top Capping, 55-DMA Support Key

*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$1.1119 - Bollinger band top

*PRICE: NZ$1.1062 @ 2030GMT

*SUP 1: NZ$1.1034 - 55-DMA

*SUP 2: NZ$1.0973 - Daily Bull channel base

*SUP 3: NZ$1.0958 - 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. The Bollinger top is the key concern and currently caps. Bears 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$1.0822) is noted.

AUSSIE-YEN TECHS: Rejected Above 200-DMA, Y85.34 Support Key Today

*RES 4: Y87.25 - Daily Bear channel top 

*RES 3: Y87.15 - 55-DMA 

*RES 2: Y86.58 - High Nov 15 

*RES 1: Y86.19 - High Dec 5

*PRICE: Y85.65 @ 2030GMT

*SUP 1: Y85.34 - Low Dec 4

*SUP 2: Y84.94 - Low Dec 1

*SUP 3: Y84.65 - Low Nov 30

*SUP 4: Y84.33 - Low Nov 27

*COMMENTARY: The recovery from recent 5mth lows continues to struggle around the

200-DMA with follow through lacking on pops above. The Y85.34 support is key

today with bears needing a close below to ease bullish pressure and below Y84.94

to shift focus back to Y83.72-84.33 where the Nov lows and bear channel base are

situated. Bulls continue to look for a close above Y86.58 to confirm focus on

Y87.15-25 where key DMAs and bear channel top are located.

EURO-AUSSIE TECHS: Pressure Back On 21-DMA 

*RES 4: A$1.5730 - Hourly resistance Dec 1

*RES 3: A$1.5681 - Hourly support Dec 1 now resistance

*RES 2: A$1.5639 - High Dec 4

*RES 1: A$1.5560 - Low Dec 4 now resistance

*PRICE: A$1.5534 @ 2000GMT

*SUP 1: A$1.5483 - 21-DMA 

*SUP 2: A$1.5447 - Low Nov 15 

*SUP 3: A$1.5392 - Monthly High Oct 26 now support 

*SUP 4: A$1.5236 - Daily Bull channel base (off July Lows)

*COMMENTARY: A bearish key day reversal Friday provided bears confidence and

leaves the pair looking heavy and now pressuring the 21-DMA. In saying that,

bears continue to look for a close below A$1.5392 to end bullish hopes and shift

focus back to A$1.5195.1.5253 where the bull channel base is located. Bulls now

need a close above A$1.5560 to gain breathing room and above A$1.5639 to return

focus to 2017 highs.

US DOLLAR-INDEX TECHS: Bulls Need Close Above 21-DMA

*RES 4: 94.178 - Hourly resistance Nov 14 

*RES 3: 93.962 - High Nov 22 

*RES 2: 93.686 - 21-DMA 

*RES 1: 93.640 - 55-DMA

*PRICE: 93.366 @ 2030GMT

*SUP 1: 93.246 - Hourly support Dec 5

*SUP 2: 92.952 - Hourly resistance Dec 1 now support

*SUP 3: 92.604 - Low Dec 1

*SUP 4: 92.496 - Low Nov 27

*COMMENTARY: Pressure continues to return to key DMAs with bulls still needing a

close above the 21-DMA to ease bearish pressure and shift initial focus to

94.165 and overall focus to 95.167-464 where monthly highs are located. While

the 21-DMA caps bears retain the advantage but now need a close below 92.952 to

reconfirm initial focus on the break of 92.496 needed to shift overall focus

back to 2017 lows.

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

*RES 4: $1.1961 High Nov 27

*RES 3: $1.1940 High Dec 1

*RES 2: $1.1884 Alternating hourly support/resistance

*RES 1: $1.1843 Hourly resistance Dec 5

*PRICE: $1.1813 @ 2000GMT

*SUP 1: $1.1793 100-DMA 

*SUP 2: $1.1768 55-DMA 

*SUP 3: $1.1713 Low Nov 21 

*SUP 4: $1.1690 High Nov 3 now support

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

the pair trading below the channel base ($1.1861) and pressuring key DMAs. 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. Layers

of resistance are weighing with bulls needing a close above $1.1884 to ease

bearish pressure.

DOLLAR-YEN TECHS: Y112.30 & Y113.33 Levels Remain Key

*RES 4: Y114.07 High Nov 9 

*RES 3: Y113.33 High Nov 16 

*RES 2: Y113.10 High Dec 4 

*RES 1: Y112.87 Hourly resistance Dec 5

*PRICE: Y112.60 @ 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 (Y111.67) to

flirt with the 55-DMA (Y112.75). Bulls take comfort in Friday's bounce with

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

the case for a move initially targeting Y114.72 Nov highs. Bears need 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: 21-DMA Remains Key Support Today

*RES 4: Y135.84 Low Oct 21 2015 now resistance

*RES 3: Y134.50 2017 High Oct 25

*RES 2: Y134.05 Hourly support Dec 1 now resistance

*RES 1: Y133.74 Hourly support Dec 1 now resistance

*PRICE: Y133.05 @ 0530GMT

*SUP 1: Y132.91 Low Dec 1 

*SUP 2: Y132.70 55-DMA 

*SUP 3: Y132.59 21-DMA 

*SUP 4: Y131.80 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 Y130.59-80 region where the

bull channel base off Aug lows and 100-DMA (Y131.59) are situated.

SPOT GOLD TECHS: Oct Lows Remain Key Support

*RES 4: $1293.6 - Hourly support Nov 29 now resistance 

*RES 3: $1289.3 - High Dec 1 

*RES 2: $1277.9 - Hourly resistance Dec 1 

*RES 1: $1269.9 - Low Nov 14 now resistance

*PRICE: $1266.5 @ 2030GMT

*SUP 1: $1260.1 - Monthly Low Oct 6 

*SUP 2: $1256.1 - 100-WMA 

*SUP 3: $1251.0 - Monthly Low Aug 8 

*SUP 4: $1243.4 - Low July 26

*COMMENTARY: The dip below the bull channel base ($1263.4) and 200-DMA ($1266.9)

have lacked follow through with support emerging ahead of Oct lows. Bears need a

close below $1260.1 to confirm breaks of the channel base and 200-DMA with

overall focus shifting to 2017 lows. Bears will then need a close below $1243.4

to add weight to their case. Bulls now need a close above $1277.9 to ease

renewed bearish pressure.

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

[TOPICS: MTABLE]