MNI Asian Morning FX Technical Analysis

28 December 2017

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Close Above 100-DMA To Target 2017 High

*RES 4: $0.7986 - High Sept 22

*RES 3: $0.7906 - Low Sept 22 now resistance

*RES 2: $0.7863 - 200-WMA

*RES 1: $0.7778 - 100-DMA

*PRICE: $0.7775 @ 2030GMT

*SUP 1: $0.7760 - Hourly support Dec 27 

*SUP 2: $0.7692 - 200-DMA 

*SUP 3: $0.7623 - Hourly support Dec 14 

*SUP 4: $0.7596 - Hourly support Dec 13

*COMMENTARY: Bulls take comfort in the recovery from Dec lows now pressuring the

100-DMA. Bulls continue to look for a close above the 100-DMA to shift overall

focus to 2017 highs. Key supports remain with bears needing a close below

$0.7760 to gain breathing room. Bears still need a close below the 200-DMA to

shift initial focus to $0.7623 and hint at a move back to $0.7482-00 with below

$0.7580 to confirm.

KIWI TECHS: Bulls Need Close Above $0.7117

*RES 4: $0.7243 - High Sept 29 

*RES 3: $0.7200 - High Oct 17 

*RES 2: $0.7117 - Low Oct 18 now resistance 

*RES 1: $0.7103 - 200-DMA

*PRICE: $0.7066 @ 2030GMT

*SUP 1: $0.7042 - High Dec 27 now support

*SUP 2: $0.7008 - Low Dec 26

*SUP 3: $0.6985 - Low Dec 21

*SUP 4: $0.6938 - 55-DMA

*COMMENTARY: Bulls took comfort in support emerging on dips back towards the

55-DMA last week with pressure remaining on $0.7069-0.7117 where the 100-WMA and

key DMAs are situated. Bulls need a close above $0.7117 to end bearish hopes and

shift focus to $0.7200-25. O/B daily studies are the key concern for bulls.

Support layers are building with bears still needing a close below $0.7008 to

ease immediate bullish pressure.

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$1.0997 @ 2030GMT

*SUP 1: NZ$1.0963 - Low Dec 26

*SUP 2: NZ$1.0923 - Low Dec 21

*SUP 3: NZ$1.0904 - Low Dec 18

*SUP 4: NZ$1.0858 - Low Dec 12

*COMMENTARY: Hesitation ahead of the 200-DMA and key WMAs NZ$1.0723-71 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 return focus to NZ$1.0722-1.0858. Below the 100-WMA (NZ$1.0723)

shifts focus back to NZ$1.0364 June lows.

AUSSIE-YEN TECHS: Bulls Targeting 2017 High

*RES 4: Y89.30 - 2017 High Sept 21 

*RES 3: Y89.67 - High Sept 25 

*RES 2: Y89.09 - High Oct 23 

*RES 1: Y88.37 - Low Oct 19 now resistance

*PRICE: Y88.04 @ 2030GMT

*SUP 1: Y87.75 - Hourly resistance Dec 27 now support

*SUP 2: Y87.04 - 100-DMA

*SUP 3: Y86.57 - 55-DMA

*SUP 4: Y86.28 - Hourly support Dec 19

*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 (Y88.03) are key concerns for bulls with potential

to limit follow through. Bears now need a close below Y87.75 to gain breathing

room and below the 55-DMA to shift initial focus back to Y85.86-86.09 where 21 &

200-DMAs are situated.

EURO-AUSSIE TECHS: Bears Need Close Below A$1.5319 

*RES 4: A$1.5526 - High Dec 20

*RES 3: A$1.5467 - Hourly support Dec 21 now resistance

*RES 2: A$1.5441 - Hourly resistance Dec 21

*RES 1: A$1.5393 - Low Dec 21 now resistance

*PRICE: A$1.5301 @ 2030GMT

*SUP 1: A$1.5275 - Low Dec 27 

*SUP 2: A$1.5195 - Low Nov 13 

*SUP 3: A$1.5182 - 100-DMA 

*SUP 4: A$1.5079 - Monthly Low Nov 9

*COMMENTARY: Pressure on the bull channel base & 55-DMA (A$1.5356) has taken its

toll with a close below A$1.5319 confirming a shift in immediate focus to

A$1.5079-1.5195 where the 100-DMA is noted. O/S daily studies remain the key

concern for bears. Layers of resistance are accumulating and adding weight to

the bearish case. Bulls look for a close above A$1.5393 to ease immediate

bearish pressure and above A$1.5586 to return focus to tests of 2017 highs.

US DOLLAR-INDEX TECHS: Closing Below Channel Base

*RES 4: 93.759 - 55-DMA 

*RES 3: 93.452 - 21-DMA 

*RES 2: 93.309 - High Dec 27 

*RES 1: 93.122 - Hourly resistance Dec 27

*PRICE: 93.023 @ 2030GMT

*SUP 1: 92.811 - Bollinger band base

*SUP 2: 92.604 - Low Dec 1

*SUP 3: 92.496 - Low Nov 27

*SUP 4: 91.781 - Low Sept 22

*COMMENTARY: The 21-DMA capping recently has resulted in a break of the bull

channel base (93.146) with bears now needing a close below 92.496 to confirm a

return in focus to tests of 2017 lows. Modestly O/S daily studies are less than

ideal for bears. Bulls continue to look for a close above the 21-DMA to gain

breathing room and above the 55-DMA to shift initial focus to 94.219 and overall

focus to 95.167-464.

EURO-DOLLAR TECHS: Channel Top Capping For Now

*RES 4: $1.2033 High Sept 20

*RES 3: $1.1961 High Nov 27

*RES 2: $1.1940 High Dec 1

*RES 1: $1.1913 Daily Bear channel top

*PRICE: $1.1899 @ 2000GMT

*SUP 1: $1.1879 Hourly support Dec 27 

*SUP 2: $1.1807 100-DMA 

*SUP 3: $1.1775 Low Dec 19 

*SUP 4: $1.1713 Low Nov 21

*COMMENTARY: The daily bear channel top confirmed significance and currently

caps with the $1.1913-61 resistance region remaining key. Bulls need 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 ($1.1483) and Nov low are situated.

DOLLAR-YEN TECHS: 55-DMA Remains Key Support

*RES 4: Y114.61 LT TL off 2015 High 

*RES 3: Y114.07 High Nov 9 

*RES 2: Y113.74 High Dec 12 

*RES 1: Y113.44 High Dec 22

*PRICE: Y113.27 @ 2000GMT

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

*SUP 2: Y112.91 55-DMA 

*SUP 3: Y112.86 21-DMA 

*SUP 4: Y111.98 Low Dec 6

*COMMENTARY: Follow through was lacking on dips last week with closes above the

55-DMA 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 still 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: 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: Y134.97 2017 High Dec 27

*PRICE: Y134.74 @ 2030GMT

*SUP 1: Y134.58 High Dec 25 now support 

*SUP 2: Y134.28 Hourly support Dec 27 

*SUP 3: Y133.88 Hourly support Dec 20 

*SUP 4: Y133.60 Hourly support Dec 19

*COMMENTARY: Fresh 2017 & 2+ year highs continue, adding support for a potential

move targeting monthly highs Y139.02-141.05. The Bolli top (Y135.02) is the key

concern for bulls. Layers of support followed the pair higher with bears needing

a close below Y133.88 to ease bullish pressure and shift focus back to the key

Y130.59-132.67 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: Bulls Firmly In Control

*RES 4: $1320.0 - High Sept 18 

*RES 3: $1306.1 - Monthly High Oct 16 

*RES 2: $1299.1 - Monthly High Nov 27 

*RES 1: $1289.5 - Monthly High Dec 1

*PRICE: $1285.1 @ 2030GMT

*SUP 1: $1281.5 - Low Dec 27 

*SUP 2: $1272.8 - Hourly support Dec 26 

*SUP 3: $1265.5 - 21-DMA 

*SUP 4: $1259.2 - Low Dec 19

*COMMENTARY: The recovery from Dec lows has resulted in closes above the 55-DMA

($1275.8) and bear channel top ($1276.7) with immediate focus on $1289.5. Bulls

look for a close above this level to hint at a move back to the $1306.0-1320.0

region. Daily studies have a little room to move before O/B becomes an issue.

Bears now need a close below $1281.5 to ease bullish pressure and below $1259.2

to shift focus back to $1235.9.

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

[TOPICS: MTABLE]