MNI Asian Morning FX Technical Analysis

19 December 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: 200-DMA Capping For Now

*RES 4: $0.7768 - Low Oct 24 now resistance

*RES 3: $0.7730 - High Nov 2

*RES 2: $0.7691 - 200-DMA

*RES 1: $0.7677 - 55-DMA

*PRICE: $0.7663 @ 2030GMT

*SUP 1: $0.7623 - Hourly support Dec 14 

*SUP 2: $0.7596 - Hourly support Dec 13 

*SUP 3: $0.7580 - Hourly breakout level Dec 12 

*SUP 4: $0.7543 - Hourly support Dec 12

*COMMENTARY: The recovery from $0.7500 saw closes above the channel top & the

pair pressuring 55 & 200-DMAs. Layers of resistance remain $0.7677-0.7794 with

bulls needing a close above the 100-DMA ($0.7794) to shift overall focus to 2017

highs. Key supports remain with bears still needing a close below $0.7623 to

ease immediate bullish pressure and below $0.7580 to return initial focus to

$0.7482-00 where the weekly bull channel base is noted.

KIWI TECHS: 55-DMA & $0.7050 Levels Remain Key

*RES 4: $0.7200 - High Oct 17 

*RES 3: $0.7117 - Low Oct 18 now resistance 

*RES 2: $0.7103 - 200-DMA 

*RES 1: $0.7050 - Low Oct 9 now resistance

*PRICE: $0.6991 @ 2030GMT

*SUP 1: $0.6979 - Monthly High Nov 9 now support

*SUP 2: $0.6949 - 55-DMA

*SUP 3: $0.6923 - Hourly support Dec 12

*SUP 4: $0.6901 - Low Dec 12

*COMMENTARY: The bounce from ahead of last week's low has resulted in closes

above the 55-DMA with immediate focus shifting to the $0.7050 resistance. Bulls

need a close above $0.7050 to target $0.7200-25 although 100 ($0.7095) & 200

($0.7103) DMAs may slow the move. Bears look for a close below the 55-DMA to

ease bullish pressure and below $0.6901 to reconfirm focus on 2017 lows and the

weekly bear channel base ($0.6693).

AUSSIE-KIWI TECHS: NZ$1.1045 Resistance Key To Further Topside

*RES 4: NZ$1.1139 - High Nov 14

*RES 3: NZ$1.1045 - Low Dec 5 now resistance

*RES 2: NZ$1.1027 - Hourly resistance Dec 6

*RES 1: NZ$1.0990 - High Dec 11

*PRICE: NZ$1.0956 @ 2030GMT

*SUP 1: NZ$1.0904 - Low Dec 18

*SUP 2: NZ$1.0858 - Low Dec 12

*SUP 3: NZ$1.0827 - 200-DMA

*SUP 4: NZ$1.0798 - Low Aug 16

*COMMENTARY: Hesitation ahead of the 200-DMA and key WMAs NZ$1.0720-63 took its

toll with an aggressive bounce Thursday that eased immediate bearish pressure.

Bulls need a close above NZ$1.1045 to confirm breaks of 21 (NZ$1.1003) & 55

(NZ$1.1043) DMAs and initially target NZ$1.1139. Bears now need a close below

NZ$1.0904 to retain focus on the NZ$1.0721-1.0858 support region. Below the

100-WMA (NZ$1.0722) shifts focus back to NZ$1.0364 June lows.

AUSSIE-YEN TECHS: Above 100-DMA Targets 2017 High

*RES 4: Y87.06 - 100-DMA 

*RES 3: Y86.75 - Daily Bear channel top 

*RES 2: Y86.64 - 55-DMA 

*RES 1: Y86.58 - High Nov 15

*PRICE: Y86.29 @ 2030GMT

*SUP 1: Y85.94 - Low Dec 15

*SUP 2: Y85.64 - Low Dec 13

*SUP 3: Y85.52 - Hourly resistance Dec 12 now support

*SUP 4: Y85.05 - Hourly resistance Dec 8 now support

*COMMENTARY: Despite gaining confidence on the recovery from Y84.65 hesitation

ahead of Y86.58-87.06 where the 55 & 100-DMAs and bear channel top are located

is a concern with the Bollinger top noted at (Y86.32). Bulls look for a close

above the 100-DMA to shift focus to Y87.67-89.06. The Y85.05-64 support region

is key with bears needing a close below Y85.05 to reconfirm focus on

Y83.32-84.33 where the bear channel base (Y83.32) is noted.

EURO-AUSSIE TECHS: 55-DMA & Bull Channel Base Support For Now 

*RES 4: A$1.5564 - 21-DMA

*RES 3: A$1.5559 - High Dec 13

*RES 2: A$1.5484 - Hourly resistance Dec 14

*RES 1: A$1.5424 - High Dec 18

*PRICE: A$1.5365 @ 2030GMT

*SUP 1: A$1.5317 - 55-DMA 

*SUP 2: A$1.5309 - Daily Bull channel base 

*SUP 3: A$1.5195 - Low Nov 13 

*SUP 4: A$1.5145 - 100-DMA

*COMMENTARY: Since closing below the 21-DMA Tuesday the pair has remained heavy

with immediate focus on the 55-DMA and bull channel base since the close below

A$1.5392 Thursday. Below the channel base is needed to hint at deeper sell-off

with below A$1.5079 to target the 200-DMA (A$1.4874). Bulls still need a close

above A$1.5484 to ease immediate bearish pressure and above the 21-DMA to return

focus to A$1.5695-1.5774.

US DOLLAR-INDEX TECHS: 92.496 & 94.219 Levels Key

*RES 4: 95.167 - High July 20 

*RES 3: 94.650 - High Nov 10 

*RES 2: 94.219 - High Dec 12 

*RES 1: 94.107 - High Dec 13

*PRICE: 93.731 @ 2030GMT

*SUP 1: 93.282 - Low Dec 14

*SUP 2: 93.171 - Low Dec 6

*SUP 3: 93.035 - Low Dec 5

*SUP 4: 92.958 - Daily Bull channel base

*COMMENTARY: Bulls take comfort in pressure on the 100-DMA (93.341) failing to

produce a close below needed to pressure the 92.496-604 support region. Bears

continue to look for a close below 92.496 to confirm focus on tests of 2017

lows. The bounce Friday provided bulls breathing room but a close above 94.219

is still needed to reconfirm a bullish bias targeting 95.167-654 where the

200-DMA (94.615) is noted.

EURO-DOLLAR TECHS: $1.1690 Support Remains Key

*RES 4: $1.1940 High Dec 1

*RES 3: $1.1884 Alternating hourly support/resistance

*RES 2: $1.1862 High Dec 14

*RES 1: $1.1834 Hourly resistance Dec 15

*PRICE: $1.1786 @ 2000GMT

*SUP 1: $1.1759 Hourly support Dec 18 

*SUP 2: $1.1713 Low Nov 21 

*SUP 3: $1.1690 High Nov 3 now support 

*SUP 4: $1.1621 Low Nov 10

*COMMENTARY: Support continues to emerge on dips back towards the key $1.1690

support. Bears continue to look for a close below $1.1690 to initially target

$1.1552 Nov lows. Modestly O/S daily studies are the key concern for bears.

Topside follow through was lacking Monday with bulls continuing to look for a

close above $1.1884 to see focus return to the $1.1940-1.1962 region with above

$1.1962 to pressure 2017 highs.

DOLLAR-YEN TECHS: Bulls Need Close Above Y112.88

*RES 4: Y114.07 High Nov 9 

*RES 3: Y113.74 High Dec 12 

*RES 2: Y113.30 Hourly resistance Dec 13a 

*RES 1: Y112.88 High Dec 14

*PRICE: Y112.55 @ 2000GMT

*SUP 1: Y112.33 21-DMA 

*SUP 2: Y111.98 Low Dec 6 

*SUP 3: Y111.61 200-DMA 

*SUP 4: Y111.35 Low Nov 29

*COMMENTARY: Recent topside hesitation saw the pair head lower but the Y111.98

support remains in play. Thursday's losses see bears focused on Y110.83-111.98

where monthly lows, 100 & 200-DMAs are noted. Bears look for a close below

Y110.83 to target 2017 lows (Y107.31). The pair was rejected above the 55-DMA

with bulls now needing a close above Y112.88 to ease bearish pressure and above

Y114.07 to reconfirm initial focus on Y114.72 Nov highs.

EURO-YEN TECHS: Bulls Initially Need Close Above Y133.11

*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: Y133.11 Hourly support Dec 14 now resistance

*PRICE: Y132.61@ 2030GMT

*SUP 1: Y132.38 Hourly support Dec 18 

*SUP 2: Y132.03 Low Dec 15 

*SUP 3: Y131.86 100-DMA 

*SUP 4: Y131.71 Low Nov 28

*COMMENTARY: The previously noted Y133.88 resistance confirmed significance with

the pair capped ahead last week and pressure returning to layers of support

Y130.59-131.86 where 100-DMA and 21-WMA are noted. Bears still need a close

below Y131.71 to hint at a move back to the 200-DMA (Y127.73) with below Y130.59

confirming. Layers of resistance remain with bulls still needing a close above

Y133.11 to ease pressure on key supports and pressure Y133.88.

SPOT GOLD TECHS: Bears Need Close Below $1249.2

*RES 4: $1284.1 - Daily Bear channel top 

*RES 3: $1277.9 - Hourly resistance Dec 1 

*RES 2: $1276.2 - 55-DMA 

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

*PRICE: $1260.8 @ 2030GMT

*SUP 1: $1256.5 - Hourly support Dec 18 

*SUP 2: $1249.2 - Hourly breakout level Dec 13 

*SUP 3: $1240.2 - Low Dec 13 

*SUP 4: $1235.9 - Low Dec 12

*COMMENTARY: Bears failed to capitalise further on recent fresh 6mth lows with

the bounce easing immediate bearish pressure. Correcting O/S daily studies add

support to the case for a move back to layers of resistance $1269.9-1289.5 where

DMAs and bear channel top are noted. The $1235.9-1249.2 support is key. Bears

need a close below $1249.2 to gain breathing room and below $1235.9 to target

$1204.6-1214.0.

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

[TOPICS: MTABLE]