MNI Asian Morning FX Technical Analysis

26 December 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bullish Confidence Growing

*RES 4: $0.7906 - Low Sept 22 now resistance

*RES 3: $0.7781 - 100-DMA

*RES 2: $0.7768 - Low Oct 24 now resistance

*RES 1: $0.7730 - High Nov 2

*PRICE: $0.7712 @ 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 ($0.7667) & 200-DMAs has taken its toll with the

closes 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: $0.7060 - 100-WMA 

*RES 1: $0.7033 - High Dec 15

*PRICE: $0.7019 @ 2030GMT

*SUP 1: $0.6985 - Low Dec 21

*SUP 2: $0.6939 - 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.

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$1.0981 @ 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 in previous weeks that eased bearish pressure.

Bulls need a close above NZ$1.1045 to confirm breaks of 21 (NZ$1.0978) & 55

(NZ$1.1045) 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$1.0723) 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: Y87.43 @ 2030GMT

*SUP 1: Y87.02 - 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

close above shifting overall focus to tests of 2017 highs (Y90.30). O/B daily

studies and the Bollinger top (Y87.57) 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$1.5533 - 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$1.5351 - 55-DMA 

*SUP 2: A$1.5350 - Daily Bull channel base 

*SUP 3: A$1.5195 - Low Nov 13 

*SUP 4: A$1.5173 - 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$1.5908).

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$1.4911).

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: 93.757 - 55-DMA 

*RES 1: 93.555 - Hourly resistance Dec 22

*PRICE: 93.265 @ 2030GMT

*SUP 1: 93.163 - Low Dec 20

*SUP 2: 93.092 - 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

(93.352) 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 (95.431) is noted.

EURO-DOLLAR TECHS: Bears Need Close Below 100-DMA

*RES 4: $1.1961 High Nov 27

*RES 3: $1.1940 High Dec 1

*RES 2: $1.1918 Daily Bear channel top

*RES 1: $1.1901 High Dec 20

*PRICE: $1.1868 @ 2000GMT

*SUP 1: $1.1805 Hourly support Dec 19, 100-DMA 

*SUP 2: $1.1775 Low Dec 19 

*SUP 3: $1.1713 Low Nov 21 

*SUP 4: $1.1690 High Nov 3 now support

*COMMENTARY: Hesitation ahead of the $1.1901-61 resistance region is less than

ideal for bulls who look for a close above $1.1961 to confirm focus on tests of

2017 highs. Bulls take comfort in support emerging on dips with bears needing a

close below the 100-DMA to confirm pressure back on $1.1690. A close below

$1.1690 remains needed to shift focus to $1.1472-1.1552 where the 200-DMA and

Nov low are situated.

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: Y113.23 @ 2000GMT

*SUP 1: Y113.08 High Dec 19 now support 

*SUP 2: Y112.89 55-DMA 

*SUP 3: Y112.67 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: Y133.88 Support Remains Key

*RES 4: Y136.40 High Oct 21 2015

*RES 3: Y135.84 Low Oct 21 2015 now resistance

*RES 2: Y134.88 2017 High Dec 21

*RES 1: Y134.54 High Dec 25

*PRICE: Y134.37 @ 2030GMT

*SUP 1: Y133.88 Hourly support Dec 20 

*SUP 2: Y133.60 Hourly support Dec 19 

*SUP 3: Y133.11 Alternating hourly support/resistance 

*SUP 4: Y132.54 Hourly support Dec 18

*COMMENTARY: Recent fresh 2017 & 2+ year highs opened up for a potential move

targeting monthly highs Y139.02-141.05. The Bolli top (Y134.83) is the key

concern for bulls. Layers of support are following the pair higher with bears

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: Pressuring Key Resistance Region

*RES 4: $1286.3 - 100-DMA 

*RES 3: $1277.9 - Hourly resistance Dec 1 

*RES 2: $1276.9 - Daily Bear channel top 

*RES 1: $1275.7 - 55-DMA

*PRICE: $1274.9 @ 2030GMT

*SUP 1: $1265.7 - 21-DMA 

*SUP 2: $1259.2 - Low Dec 19 

*SUP 3: $1256.5 - Hourly support Dec 18 

*SUP 4: $1249.2 - Hourly breakout level Dec 13

*COMMENTARY: Pressure on the 200-DMA ($1269.6) took its toll with a break higher

Friday that sees pressure firmly on the 55-DMA. Bulls continue to look for a

close above $1289.5 to confirm breaks of the 55 & 100-DMAs and bear channel top

with above $1299.1 then needed to shift overall focus back to 2017 highs. Bears

now need a close below the 21-DMA to ease pressure on resistance layers.

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

[TOPICS: MTABLE]