MNI Asian Morning FX Technical Analysis

3 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: $0.8036 - High Sept 21

*RES 3: $0.7986 - High Sept 22

*RES 2: $0.7906 - Low Sept 22 now resistance

*RES 1: $0.7857 - 200-WMA

*PRICE: $0.7825 @ 2030GMT

*SUP 1: $0.7814 - Hourly support Jan 2 

*SUP 2: $0.7760 - Hourly support Dec 27 

*SUP 3: $0.7729 - Highs Dec 25 & 26 now support 

*SUP 4: $0.7696 - 200-DMA

*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: Struggling Above 200-DMA

*RES 4: $0.7243 - High Sept 29 

*RES 3: $0.7200 - High Oct 17 

*RES 2: $0.7177 - Daily Bear channel top 

*RES 1: $0.7130 - High Jan 2

*PRICE: $0.7103 @ 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 pops above the 200-DMA ($0.7104). Bulls need a close above

$0.7130 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 ($0.6933).

AUSSIE-KIWI TECHS: 55-DMA Now Key To Further Topside

*RES 4: NZ$1.1185 - High Nov 1

*RES 3: NZ$1.1139 - High Nov 14

*RES 2: NZ$1.1048 - 55-DMA

*RES 1: NZ$1.1027 - Hourly resistance Dec 6

*PRICE: NZ$1.1014 @ 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 the 55-DMA to initially target NZ$1.1139. Bears need a

close below NZ$1.0963 to ease bullish pressure and below NZ$1.0904 to return

focus to NZ$1.0727-1.0858. Below the 100-WMA (NZ$1.0727) shifts focus back to

NZ$1.0364 June lows.

AUSSIE-YEN TECHS: O/B Daily Studies Key Concern

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

*RES 3: Y89.67 - High Sept 25 

*RES 2: Y89.09 - High Oct 23 

*RES 1: Y88.40 - High Jan 2

*PRICE: Y87.94 @ 2030GMT

*SUP 1: Y87.52 - High Dec 22 now support

*SUP 2: Y87.11 - 100-DMA

*SUP 3: Y86.56 - 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 (Y88.74) are key concerns for bulls with potential

to limit follow through. Bears need a close below Y87.52 to gain breathing room

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

situated.

EURO-AUSSIE TECHS: 21-DMA Resistance Now Key 

*RES 4: A$1.5526 - High Dec 20

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

*RES 2: A$1.5450 - 21-DMA

*RES 1: A$1.5441 - Hourly resistance Dec 21

*PRICE: A$1.5385 @ 2030GMT

*SUP 1: A$1.5321 - Low Jan 2 

*SUP 2: A$1.5275 - Low Dec 27 

*SUP 3: A$1.5195 - Low Nov 13 

*SUP 4: A$1.5193 - 100-DMA

*COMMENTARY: The failure to trouble the 100-DMA is less than ideal for bears

with the pair bouncing back towards the 21-DMA. Bulls now need a close above the

21-DMA to hint at a move back to A$1.5694-1.5774 with above A$1.5526 to confirm.

While the 21-DMA caps bears retain the upper hand with a close below the 100-DMA

needed to see bears targeting the 200-DMA (A$1.4947).

US DOLLAR-INDEX TECHS: Remains Heavy

*RES 4: 92.956 - Low Dec 27 now resistance 

*RES 3: 92.788 - Hourly resistance Dec 28 

*RES 2: 92.518 - Hourly support Dec 29 now resistance 

*RES 1: 92.080 - Low Dec 29 now resistance

*PRICE: 91.915 @ 2000GMT

*SUP 1: 91.751 - Low Jan 2

*SUP 2: 91.526 - Low Oct 19 

*SUP 3: 91.011 - 2017 Low Sept 8 

*SUP 4: 90.325 - High Dec 30 2014 now support

*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 now look for a close above 92.518 to ease immediate bearish pressure and

above the 55-DMA (93.684) to shift initial focus to 94.219 and overall focus to

95.167-464.

EURO-DOLLAR TECHS: Hesitating Ahead Of 2017 High

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

*RES 3: $1.2371 Low Dec 11 2014 now resistance

*RES 2: $1.2254 High Dec 25 2014

*RES 1: $1.2092 2017 High Sept 8

*PRICE: $1.2049 @ 2000GMT

*SUP 1: $1.2026 High Dec 29 now support 

*SUP 2: $1.1981 Hourly support Dec 29 

*SUP 3: $1.1961 High Nov 27 now support 

*SUP 4: $1.1910 High Dec 27 now support

*COMMENTARY: Gains continue to start the new year although hesitation ahead of

2017 highs is less than ideal given daily studies looking to correct from O/B

and the Bollinger band top ($1.2019). Bulls continue to look for a close above

the current 2017 high to initially target $1.2254. Layers of support are

accumulating but $1.1961 remains key. Bears need a close below $1.1961 to ease

bullish pressure and below the 100-DMA to confirm pressure back on $1.1690.

DOLLAR-YEN TECHS: Below Y110.83 Targets 2017 Low

*RES 4: Y113.74 High Dec 12 

*RES 3: Y113.44 High Dec 22 

*RES 2: Y113.13 Low Dec 26 now resistance 

*RES 1: Y112.46 Low Dec 29 now resistance

*PRICE: Y112.32 @ 2000GMT

*SUP 1: Y111.98 Low Dec 6 

*SUP 2: Y111.66 200-DMA 

*SUP 3: Y111.35 Low Nov 29 

*SUP 4: Y110.83 Monthly Low Nov 27

*COMMENTARY: The pair remains heavy having dipped towards the Y111.98 support

with the Y110.83-111.98 support region the current focus. Bears then need a

close below Y110.83 to target 2017 lows (Y107.31). Layers of resistance are

accumulating and daily studies are well placed for losses. Bulls continue to

look for a close above Y113.13 to gain breathing room and hint at a correction

back to Y113.74-114.07.

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: Y135.76 Bollinger band top

*PRICE: Y135.39 @ 2000GMT

*SUP 1: Y134.91 Low Jan 2 

*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 2+ year highs continue, adding support for a potential move

targeting Y139.02-141.05. The Bolli top (Y135.76) & O/B studies are key concerns

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

below Y134.91 to ease bullish pressure and below Y133.88 to 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: Above $1320.0 Confirms Focus on 2017 High

*RES 4: $1367.3 - Monthly High Aug 2 2016 

*RES 3: $1357.5 - 2017 High Sept 8 

*RES 2: $1334.8 - High Sept 13 

*RES 1: $1320.0 - High Sept 18

*PRICE: $1315.1 @ 2030GMT

*SUP 1: $1310.0 - Hourly support Jan 2 

*SUP 2: $1302.5 - Low Jan 2 

*SUP 3: $1293.5 - Low Dec 29 

*SUP 4: $1281.5 - Low Dec 27

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

and bear channel top with immediate focus now on $1320.0 following the break of

$1289.5. O/B daily studies and the Bollinger top ($1306.8) are concerns for

bulls. Bears now need a close below Tuesday's low to ease pressure on resistance

layers and below the 100-DMA ($1287.2) to hint at a deeper correction.

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

[TOPICS: MTABLE]