MNI Asian Morning FX Technical Analysis

13 December 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bulls Need Close Above Bear Channel Top

*RES 4: $0.7654 - High Dec 5

*RES 3: $0.7607 - Daily Bear channel top

*RES 2: $0.7598 - Hourly support Dec 5 now resistance

*RES 1: $0.7578 - 21-DMA

*PRICE: $0.7557 @ 2030GMT

*SUP 1: $0.7537 - Hourly resistance Dec 12 now support 

*SUP 2: $0.7500 - Low Dec 8 

*SUP 3: $0.7474 - LT Bull channel base (Jan 20 2016 low) 

*SUP 4: $0.7410 - Low June 5

*COMMENTARY: Having closed below $0.7519 last week confirmed immediate bearish

focus on the LT bull channel base. A close below the channel base sees bears

targeting $0.7326-65 where the MT bear channel base is noted. In saying that,

the 21-DMA is now capping. Overall bulls still need a close above the bear

channel top to shift initial focus back to $0.7653-0.7768 where 55 ($0.7691) &

200 ($0.7689) DMAs are situated.

KIWI TECHS: $0.6979-0.7048 Resistance Region Remains Key

*RES 4: $0.7007 - Hourly resistance Oct 20 

*RES 3: $0.6979 - Monthly High Nov 9 

*RES 2: $0.6964 - 55-DMA 

*RES 1: $0.6952 - High Dec 12

*PRICE: $0.6930 @ 2030GMT

*SUP 1: $0.6901 - Low Dec 12

*SUP 2: $0.6886 - Hourly support Dec 11a

*SUP 3: $0.6870 - High Dec 8 now support

*SUP 4: $0.6852 - Alternating hourly support/resistance

*COMMENTARY: The bounce from ahead of last week's low is less than ideal for

bears with the pair correcting back towards layers of resistance $0.6964-0.7048

where the 55-DMA is situated. Overall bulls need a close above $0.7048 to target

$0.7200-25 although 100 ($0.7116) & 200 ($0.7101) DMAs may slow the move. While

$0.6979 caps bears remain focused on the weekly bear channel base ($0.6709) with

below $0.6815 to add weight to their case.

AUSSIE-KIWI TECHS: 100-WMA Key Support

*RES 4: NZ$1.1045 - Low Dec 5 now resistance

*RES 3: NZ$1.1027 - Hourly resistance Dec 6

*RES 2: NZ$1.0990 - High Dec 11

*RES 1: NZ$1.0927 - Hourly resistance Dec 11

*PRICE: NZ$1.0899 @ 2030GMT

*SUP 1: NZ$1.0858 - Low Dec 12

*SUP 2: NZ$1.0826 - 200-DMA

*SUP 3: NZ$1.0798 - Low Aug 16

*SUP 4: NZ$1.0760 - 200-WMA

*COMMENTARY: The lack of topside follow through in past week's has finally taken

its toll with a close below key supports that sees focus on NZ$1.0720-1.0826

where key WMAs and the 200-DMA are noted. Overall bears need a close below the

100-WMA(NZ$1.0720) to end bullish hopes and shift focus back to 2017 lows

(NZ$1.0320). Bulls now need a close above NZ$1.0927 to ease bearish pressure and

above NZ$1.1045 to initially target NZ$1.1139.

AUSSIE-YEN TECHS: Layers Of Resistance Y85.68-87.19

*RES 4: Y86.58 - High Nov 15 

*RES 3: Y86.19 - High Dec 5 

*RES 2: Y85.86 - 200-DMA 

*RES 1: Y85.68 - High Dec 6

*PRICE: Y85.49 @ 2030GMT

*SUP 1: Y85.05 - Hourly resistance Dec 8 now support

*SUP 2: Y84.65 - Low Nov 30

*SUP 3: Y84.33 - Monthly Low Nov 27

*SUP 4: Y83.72 - Low June 22

*COMMENTARY: The bounce Monday is less than ideal for bears given the lack of

follow through and bounce from last week's low. Layers of resistance remain

Y85.68-87.19. Bulls need a close above Y86.19 to confirm a break of the 200-DMA,

easing bearish pressure and above the 100-DMA (Y87.19) to shift focus to

Y87.67-89.06. The Y85.05 support is now key with bears needing a close below to

reconfirm focus on Y83.60-84.65 where the bear channel base (Y83.60) is noted.

EURO-AUSSIE TECHS: Focus Returns To A$1.5392-1.5489 

*RES 4: A$1.5695 - High Dec 7

*RES 3: A$1.5614 - Hourly resistance Dec 12a

*RES 2: A$1.5587 - 21-DMA

*RES 1: A$1.5556 - Hourly resistance Dec 12

*PRICE: A$1.5524 @ 2030GMT

*SUP 1: A$1.5487 - Low Dec 5 

*SUP 2: A$1.5447 - Low Nov 15 

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

*SUP 4: A$1.5288 - 55-DMA

*COMMENTARY: Bears take comfort in the likely close below the 21-DMA that sees

focus back on A$1.5392-1.5489 with the pair looking heavy having left a head and

shoulders setup in place. Overall bears need a close below A$1.5392 is needed to

target the 55-DMA and daily bull channel base (A$1.5277). Layers of resistance

building add weight to the bearish case with bulls now needing a close above

A$1.5614 to ease bearish pressure.

US DOLLAR-INDEX TECHS: Focus Shifts To 95.167-464

*RES 4: 95.167 - High July 20 

*RES 3: 94.650 - High Nov 10 

*RES 2: 94.307 - Bollinger band top 

*RES 1: 94.165 - High Nov 21

*PRICE: 94.109 @ 2030GMT

*SUP 1: 93.983 - High Dec 11 now support

*SUP 2: 93.666 - Low Dec 11

*SUP 3: 93.488 - High Dec 5 now support

*SUP 4: 93.171 - Low Dec 6

*COMMENTARY: Pressure returning to key DMAs last week saw a close above the

55-DMA (93.764) confirming an easing of bearish pressure and seeing immediate

focus on 94.165. Focus has now shifted to 95.167-464 with bulls now needing a

close above 95.650 to add support to their case. Bears still need a close below

93.488 to ease bullish pressure and below 93.035 to shift pressure back to the

92.496-604 region where Nov lows are situated.

EURO-DOLLAR TECHS: Below $1.1690 Targets Nov Lows

*RES 4: $1.1848 High Dec 6

*RES 3: $1.1815 21-DMA

*RES 2: $1.1793 High Dec 12

*RES 1: $1.1764 Hourly support Dec 12 now resistance

*PRICE: $1.1731 @ 2000GMT

*SUP 1: $1.1713 Low Nov 21 

*SUP 2: $1.1690 High Nov 3 now support 

*SUP 3: $1.1621 Low Nov 10 

*SUP 4: $1.1554 Monthly Low Nov 7

*COMMENTARY: With the 21-DMA having capped since Thursday's close below the pair

remains heavy with immediate focus on $1.1690. Below $1.1690 remains needed to

confirm initial focus on $1.1552 Nov lows. Layers of resistance are building and

weighing with bulls needing a close above $1.1764 to gain breathing room. A

close above the 21-DMA is needed to hint at a correction with above $1.1884 to

shift focus back to $1.1940-61.

DOLLAR-YEN TECHS: Bulls Focused On Y114.07-72

*RES 4: Y115.62 High Jan 19 

*RES 3: Y114.72 High Nov 6, LT TL off 2015 High 

*RES 2: Y114.07 High Nov 9 

*RES 1: Y113.95 Bollinger band top

*PRICE: Y113.58 @ 2000GMT

*SUP 1: Y113.24 Low Dec 11 

*SUP 2: Y113.04 Hourly support Dec 7 

*SUP 3: Y112.77 Daily Bull channel base (Off Nov 28 low) 

*SUP 4: Y112.57 Hourly support Dec 7a

*COMMENTARY: The bounce from the channel base confirmed significance last week

with the pair having broken Y113.33. Bulls initially target Y114.07-72 where Nov

monthly highs and the LT falling TL are noted. Bears still need a close below

Y113.04 to gain breathing room and below Y112.57 to add weight to the case for a

correction back to Y110.83-111.65 where monthly lows, 100 & 200-DMAs are noted.

The Bollinger top remains the key concern for bulls.

EURO-YEN TECHS: Looking A Little Heavy

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

*RES 3: Y134.50 2017 High Oct 25

*RES 2: Y133.88 High Dec 11

*RES 1: Y133.47 Hourly resistance Dec

*PRICE: Y133.26 @ 2000GMT

*SUP 1: Y132.98 Hourly resistance Dec 7 now support 

*SUP 2: Y132.58 Hourly support Dec 7 

*SUP 3: Y132.24 Low Dec 6 

*SUP 4: Y132.07 Daily Bull channel base off Aug Low

*COMMENTARY: The pair is looking a little heavy having failed to trouble 2017

highs on the recovery from dips below 21 & 55 (Y132.70-84) DMAs. The Y132.98

support is key today with bears needing a close below to shift initial focus

back to Y131.71-132.24 where the 100-DMA and bull channel base are situated.

Bulls now need a close above Y133.47 to gain breathing room and above Y133.88 to

reconfirm initial focus on 2017 highs.

SPOT GOLD TECHS: Bears Focused On 2017 Low

*RES 4: $1277.9 - Hourly resistance Dec 1 

*RES 3: $1269.9 - Low Nov 14 now resistance 

*RES 2: $1260.1 - Monthly Low Oct 6 now resistance 

*RES 1: $1252.4 - High Dec 8

*PRICE: $1242.9 @ 2030GMT

*SUP 1: $1227.8 - Low July 17 

*SUP 2: $1214.0 - Low July 12 

*SUP 3: $1209.4 - Daily Bear channel base (Oct 6 Low) 

*SUP 4: $1204.7 - Monthly Low July 10

*COMMENTARY: Pressure on $1243.4 took its toll with initial focus shifting to

$1180.6-1214.0 where the bear channel base and monthly lows are situated. O/S

studies and Bollinger base ($1240.8) are key concerns for bears. Bulls look for

a close above $1252.4 to ease immediate bearish pressure and above $1269.9 to

shift focus back to $1274.8-1286.3 where DMAs and bear channel top are noted.

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

[TOPICS: MTABLE]