MNI Asian Morning FX Technical Analysis

2 January 2018

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Immediate Bullish Focus On $7906

*RES 4: $0.7986 - High Sept 22

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

*RES 2: $0.7857 - 200-WMA

*RES 1: $0.7828 - High Dec 29

*PRICE: $0.7803@ 2000GMT

*SUP 1: $0.7760 - Hourly support Dec 27 

*SUP 2: $0.7729 - Highs Dec 25 & 26 now support 

*SUP 3: $0.7695 - 200-DMA 

*SUP 4: $0.7623 - Hourly support Dec 14

*COMMENTARY: Bulls took comfort in the recovery from Dec lows closing above the

100-DMA ($0.7776) and shifting overall focus to 2017 highs. Bulls now look for a

close above $0.7906 to add support to their case. 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

$0.7495-00 with below $0.7580 to confirm.

KIWI TECHS: Bulls Need Close Above $0.7123

*RES 4: $0.7243 - High Sept 29 

*RES 3: $0.7200 - High Oct 17 

*RES 2: $0.7180 - Daily Bear channel top 

*RES 1: $0.7123 - High Dec 29

*PRICE: $0.7096 @ 2030GMT

*SUP 1: $0.7073 - Hourly support Dec 28

*SUP 2: $0.7054 - Low Dec 28

*SUP 3: $0.7042 - High Dec 27 now support

*SUP 4: $0.7008 - Low Dec 26

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

55-DMA resulting in a pop above the 200-DMA ($0.7104). Bulls need a close above

$0.7123 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 needing a

close below $0.7054 to ease bullish pressure and below $0.7008 to target the

55-DMA ($0.6935).

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$1.1003 @ 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$1.0973) & 55

(NZ$1.1047) 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$1.0727)

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: Y87.89 @ 2030GMT

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

*SUP 2: Y87.08 - 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 (Y88.43) are key concerns for bulls with potential

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

and below the 55-DMA to shift initial focus back to Y85.90-94 where the 200-DMA

is situated.

EURO-AUSSIE TECHS: Bulls Need Close Above A$1.5393 

*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$1.5381 @ 2030GMT

*SUP 1: A$1.5275 - Low Dec 27 

*SUP 2: A$1.5195 - Low Nov 13 

*SUP 3: A$1.5193 - 100-DMA 

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

*COMMENTARY: Pressure on the bull channel base & 55-DMA (A$1.5373) took its toll

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

A$1.5093-1.5195 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: Bears Need Close Below 92.496

*RES 4: 93.122 - Hourly resistance Dec 27 

*RES 3: 92.956 - Low Dec 27 now resistance 

*RES 2: 92.788 - Hourly resistance Dec 28 

*RES 1: 92.518 - Hourly support Dec 29 now resistance

*PRICE: 92.238 @ 2030GMT

*SUP 1: 92.080 - Low Dec 29

*SUP 2: 91.781 - Low Sept 22

*SUP 3: 91.526 - Low Oct 19 

*SUP 4: 91.011 - 2017 Low Sept 8

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

channel base (93.173) with the close below 92.496 confirming 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: Bulls Focused On 2017 HIgh

*RES 4: $1.2371 Low Dec 11 2014 now resistance

*RES 3: $1.2254 High Dec 25 2014

*RES 2: $1.2092 2017 High Sept 8

*RES 1: $1.2033 High Sept 20

*PRICE: $1.2006 @ 2000GMT

*SUP 1: $1.1961 High Nov 27 now support 

*SUP 2: $1.1910 High Dec 27 now support 

*SUP 3: $1.1879 Hourly support Dec 27 

*SUP 4: $1.1810 100-DMA

*COMMENTARY: The close above $1.1961 confirms initial focus on tests of 2017

highs and fresh 2017 highs to target $1.2254. Bulls take comfort in support

emerging on dips with bears needing a close below $1.1961 to ease bullish

pressure and 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

($1.1500) and Nov low are situated.

DOLLAR-YEN TECHS: Bears Focusing On Y110.83-111.98

*RES 4: Y114.07 High Nov 9 

*RES 3: Y113.74 High Dec 12 

*RES 2: Y113.44 High Dec 22 

*RES 1: Y113.13 Low Dec 26 now resistance

*PRICE: Y112.64 @ 2000GMT

*SUP 1: Y111.98 Low Dec 6 

*SUP 2: Y111.65 200-DMA 

*SUP 3: Y111.35 Low Nov 29 

*SUP 4: Y110.83 Monthly Low Nov 27

*COMMENTARY: Bears take comfort in consolidation below 21 & 55-DMAs and the bull

channel base. Bulls need a close above Y113.13 to gain breathing room and hint

at a correction back to Y113.74-114.07. The closes below the 55-DMA (Y112.95)

confirmed a shift lower in focus with bears now targeting Y110.83-111.98 where

monthly lows, 100 & 200-DMAs are noted. Bears need 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: Y135.51 2017 High Dec 29

*PRICE: Y135.17 @ 2000GMT

*SUP 1: Y134.28 Hourly support Dec 27 

*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: Fresh 2017 & 2+ year highs continued, adding support for a

potential move targeting Y139.02-141.05. The Bolli top (Y135.56) & O/B studies

are key concerns 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 Y132.03-132.83 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 Focused On $1306.1-1320.0

*RES 4: $1357.5 - 2017 High Sept 8 

*RES 3: $1334.8 - High Sept 13 

*RES 2: $1320.0 - High Sept 18 

*RES 1: $1306.1 - Monthly High Oct 16

*PRICE: $1302.4 @ 2030GMT

*SUP 1: $1293.5 - Low Dec 29 

*SUP 2: $1281.5 - Low Dec 27 

*SUP 3: $1275.5 - 55-DMA 

*SUP 4: $1270.5 - 200-DMA

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

and bear channel top with immediate focus now on $1306.1-1320.0 following the

break of $1289.5. O/B daily studies and the Bollinger top ($1299.4) are concerns

for bulls. Bears now need a close below the 100-DMA to ease immediate bullish

pressure and below the 21-DMA ($1266.7) to hint at a move back to Dec lows.

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

[TOPICS: MTABLE]