-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI Asian Morning FX Technical Analysis
22 December 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: Bulls Flexing Their Muscle
*RES 4: $0.7906 - Low Sept 22 now resistance
*RES 3: $0.7785 - 100-DMA
*RES 2: $0.7768 - Low Oct 24 now resistance
*RES 1: $0.7730 - High Nov 2
*PRICE: $0.7705 @ 2030GMT
*SUP 1: $0.7692 - 200-DMA
*SUP 2: $0.7623 - Hourly support Dec 14
*SUP 3: $0.7596 - Hourly support Dec 13
*SUP 4: $0.7580 - Hourly breakout level Dec 12
*COMMENTARY: Pressure on the 55 ($0.7669) & 200-DMAs has taken its toll with a
likely close above the 200-DMA adding support to the bullish case. Bulls
continue to look for a close above the 100-DMA to shift overall focus to 2017
highs. Key supports remain. Bears now need a close below the 200-DMA to gain
breathing room and below $0.7623 to hint at a move back to $0.7482-00 with below
$0.7580 to confirm.
KIWI TECHS: Bears Need Close Below 55-DMA
*RES 4: $0.7117 - Low Oct 18 now resistance
*RES 3: $0.7103 - 200-DMA
*RES 2: $0.7054 - 100-WMA
*RES 1: $0.7033 - High Dec 15
*PRICE: $0.7009 @ 2030GMT
*SUP 1: $0.6985 - Low Dec 21
*SUP 2: $0.6941 - 55-DMA
*SUP 3: $0.6923 - Hourly support Dec 12
*SUP 4: $0.6901 - Low Dec 12
*COMMENTARY: Topside hesitation ahead of $0.7050 is less than ideal for bulls
and saw dips back to the 55-DMA as daily studies correct from modestly O/B and
resistance layers build. 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). Bulls need a close above $0.7050 to target $0.7200-25
although 100 ($0.7082) & 200 ($0.7103) DMAs may slow the move.
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$1.1012 - High Dec 20
*PRICE: NZ$1.0991 @ 2030GMT
*SUP 1: NZ$1.0923 - Low Dec 21
*SUP 2: NZ$1.0904 - Low Dec 18
*SUP 3: NZ$1.0858 - Low Dec 12
*SUP 4: NZ$1.0827 - 200-DMA
*COMMENTARY: Hesitation ahead of the 200-DMA and key WMAs NZ$1.0722-63 took its
toll with an aggressive bounce last week that eased bearish pressure. Bulls need
a close above NZ$1.1045 to confirm breaks of 21 (NZ$1.0986) & 55 (NZ$1.1044)
DMAs and initially target NZ$1.1139. Bears need a close below NZ$1.0904 to
retain focus on the NZ$1.0722-1.0858 support region. Below the 100-WMA
(NZ$1.0722) shifts focus back to NZ$1.0364 June lows.
AUSSIE-YEN TECHS: Overall Focus Shifts to 2017 High
*RES 4: Y89.09 - High Oct 23
*RES 3: Y88.37 - Low Oct 19 now resistance
*RES 2: Y88.09 - High Nov 2
*RES 1: Y87.72 - Alternating hourly support/resistance
*PRICE: Y87.34 @ 2030GMT
*SUP 1: Y87.03 - 100-DMA
*SUP 2: Y86.56 - 55-DMA
*SUP 3: Y86.28 - Hourly support Dec 19
*SUP 4: Y85.85 - 200-DMA
*COMMENTARY: Gains continue with pressure on the 100-DMA taking its toll and the
likely close above shifting overall focus to tests of 2017 highs (Y90.30). O/B
daily studies and the Bollinger top (Y87.08) are key concerns for bulls with
potential to limit follow through. Bears now need a close below the 100-DMA to
gain breathing room and below the 55-DMA to shift initial focus back to
Y85.55-85 where 21 & 200-DMAs are situated.
EURO-AUSSIE TECHS: Focus Remains On Key Supports
*RES 4: A$1.5553 - 21-DMA
*RES 3: A$1.5526 - High Dec 20
*RES 2: A$1.5467 - Hourly support Dec 21 now resistance
*RES 1: A$1.5441 - Hourly resistance Dec 21
*PRICE: A$1.5406 @ 2030GMT
*SUP 1: A$1.5342 - 55-DMA
*SUP 2: A$1.5334 - Daily Bull channel base
*SUP 3: A$1.5195 - Low Nov 13
*SUP 4: A$1.5163 - 100-DMA
*COMMENTARY: The 55-DMA and bull channel base reconfirmed significance with
bulls taking comfort in Tuesday's bounce. In saying that, bulls still need a
close above the 21-DMA to return focus to A$1.5695-1.5774 where 2017 highs are
located. Fresh 2017 highs initially target the bull channel top (A$1.5891).
Bears continue to look for a close below the channel base to hint at deeper
sell-off with below A$1.5079 to target the 200-DMA (A$1.4896).
US DOLLAR-INDEX TECHS: 92.496 & 94.219 Levels Remain Key
*RES 4: 94.219 - High Dec 12
*RES 3: 94.107 - High Dec 13
*RES 2: 93.775 - 55-DMA
*RES 1: 93.535 - High Dec 20
*PRICE: 93.288 @ 2030GMT
*SUP 1: 93.163 - Low Dec 20
*SUP 2: 93.039 - Daily Bull channel base
*SUP 3: 93.035 - Low Dec 5
*SUP 4: 92.604 - Low Dec 1
*COMMENTARY: Bulls have so far failed to capitalise on bounces from the 100-DMA
(93.356) with the failure to take out 94.219 seeing pressure back on supports.
Bears look for a close below 93.163 to add weight to their case with a close
below 92.496 to confirm focus on tests of 2017 lows. Bulls still look for a
close above the 55-DMA to ease bearish pressure and above 94.219 to reconfirm a
bullish bias targeting 95.167-654 where the 200-DMA (94.502) is noted.
EURO-DOLLAR TECHS: Bears Need Close Below $1.1827
*RES 4: $1.1961 High Nov 27
*RES 3: $1.1940 High Dec 1
*RES 2: $1.1922 Daily Bear channel top
*RES 1: $1.1901 High Dec 20
*PRICE: $1.1869 @ 2000GMT
*SUP 1: $1.1848 Low Dec 21
*SUP 2: $1.1827 Low Dec 20
*SUP 3: $1.1805 Hourly support Dec 19
*SUP 4: $1.1775 Low Dec 19
*COMMENTARY: Support emerging on dips back towards the key $1.1690 level
provided the base for a move that sees the pair flirting with the $1.1884
resistance. Bulls focus on the $1.1922-61 region with a close above shifting
focus to $1.2033-1.2092 2017 highs. Daily studies are well placed for gains.
Bears continue to look for a close below $1.1827 to ease bullish pressure and
see focus return to the key $1.1690 support.
DOLLAR-YEN TECHS: Initial Focus On Y113.74-114.07
*RES 4: Y114.72 High Nov 6
*RES 3: Y114.61 LT TL off 2015 High
*RES 2: Y114.07 High Nov 9
*RES 1: Y113.74 High Dec 12
*PRICE: Y113.37 @ 0530GMT
*SUP 1: Y113.08 High Dec 19 now support
*SUP 2: Y112.87 55-DMA
*SUP 3: Y112.50 21-DMA
*SUP 4: Y111.98 Low Dec 6
*COMMENTARY: Follow through has been lacking on dips with the marginal close
above the 55-DMA Tuesday seeing bulls initially focused on Y113.74-114.07. Bulls
look for a close above Y114.72 to target Y115.62 and then Y118.60 2017 highs.
Bears need a close below the 55-DMA to ease bullish pressure and return focus to
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).
EURO-YEN TECHS: Overall Focus On Y139.02-141.05
*RES 4: Y139.02 Monthly High Aug 2015
*RES 3: Y136.40 High Oct 21 2015
*RES 2: Y135.84 Low Oct 21 2015 now resistance
*RES 1: Y134.88 2017 High Dec 21
*PRICE: Y134.59 @ 2030GMT
*SUP 1: Y134.25 Hourly Breakout level Dec 20
*SUP 2: Y133.88 Hourly support Dec 20
*SUP 3: Y133.60 Hourly support Dec 19
*SUP 4: Y133.11 Alternating hourly support/resistance
*COMMENTARY: Continued fresh 2017 & 2+ year highs open up for a potential move
targeting monthly highs Y139.02-141.05. The Bolli top (Y134.61) is the key
concern for bulls. Layers of support are following the pair higher with bears
now needing a close below Y133.88 to ease bullish pressure and shift focus back
to the key Y130.59-132.45 support region where the 100-DMA and bull channel base
are noted. Immediate bullish focus is on Y135.84-136.40 while Y133.88 supports.
SPOT GOLD TECHS: Capped Ahead Of Key Resistance Region
*RES 4: $1278.7 - Daily Bear channel top
*RES 3: $1277.9 - Hourly resistance Dec 1
*RES 2: $1275.9 - 55-DMA
*RES 1: $1269.9 - Low Nov 14 now resistance
*PRICE: $1266.7 @ 2030GMT
*SUP 1: $1259.2 - Low Dec 19
*SUP 2: $1256.5 - Hourly support Dec 18
*SUP 3: $1249.2 - Hourly breakout level Dec 13
*SUP 4: $1240.2 - Low Dec 13
*COMMENTARY: Correcting O/S studies provided the impetus for a correction back
towards layers of resistance $1269.9-1289.5 where DMAs and bear channel top are
noted. Layers of support have accumulated with bears needing a close below
$1259.2 to gain breathing room, below $1249.2 to shift immediate focus to
$1235.9 and overall focus to $1204.6-1214.0. Bulls need a close above $1269.9 to
add to confidence.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.