MNI Asian Morning FX Technical Analysis

5 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: $0.8102 - High Sept 20

*RES 3: $0.8036 - High Sept 21

*RES 2: $0.7986 - High Sept 22

*RES 1: $0.7906 - Low Sept 22 now resistance

*PRICE: $0.7865 @ 2000GMT

*SUP 1: $0.7802 - Low Jan 3 

*SUP 2: $0.7760 - Hourly support Dec 27 

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

*SUP 4: $0.7698 - 200-DMA

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

100-DMA ($0.7775) and shifting overall focus to 2017 highs. Bulls 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: Gaining Traction Above 200-DMA

*RES 4: $0.7276 - High Sept 26 

*RES 3: $0.7243 - High Sept 29 

*RES 2: $0.7200 - High Oct 17 

*RES 1: $0.7170 - Daily Bear channel top

*PRICE: $0.7161 @ 2030GMT

*SUP 1: $0.7130 - High Jan 2 now support

*SUP 2: $0.7112 - Alternating hourly support/resistance

*SUP 3: $0.7073 - Hourly support Dec 28

*SUP 4: $0.7054 - Low Dec 28

*COMMENTARY: Bullish confidence grows as the pair gains traction above the

200-DMA with immediate pressure on the daily bear channel top off 2017 highs.

Bulls now look for a close above $0.7243 to end bearish hopes and shift initial

focus to $0.7374.0.7433. O/B daily studies remain the key concern for bulls.

Bears now need a close below $0.7112 to ease pressure on the bear channel top.

AUSSIE-KIWI TECHS: 55-DMA Confirms Significance

*RES 4: NZ$1.1185 - High Nov 1

*RES 3: NZ$1.1139 - High Nov 14

*RES 2: NZ$1.1046 - 55-DMA

*RES 1: NZ$1.1012 - 100-DMA

*PRICE: NZ$1.0977 @ 2030GMT

*SUP 1: NZ$1.0970 - 21-DMA

*SUP 2: NZ$1.0963 - Low Dec 26

*SUP 3: NZ$1.0923 - Low Dec 21

*SUP 4: NZ$1.0904 - Low Dec 18

*COMMENTARY: The 55-DMA confirmed significance having capped the recovery from

Dec lows and seeing pressure back on NZ$1.0963-70 where the 21-DMA is noted.

Bears need a close below NZ$1.0963 is needed 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. Bulls look for a close above the

55-DMA to target 2017 highs.

AUSSIE-YEN TECHS: Bears Need Close Below Y88.22

*RES 4: Y90.30 - 2017 High Sept 21 

*RES 3: Y89.67 - High Sept 25 

*RES 2: Y89.26 - Daily Bull channel top 

*RES 1: Y89.09 - High Oct 23

*PRICE: Y88.63 @ 2030GMT

*SUP 1: Y88.42 - Hourly resistance Jan 4 now support

*SUP 2: Y88.22 - Hourly support Jan 4

*SUP 3: Y87.52 - High Dec 22 now support

*SUP 4: Y87.14 - 100-DMA

*COMMENTARY: Gains continue with pressure on the 100-DMA in recent weeks taking

its toll and the close above shifting overall focus to tests of 2017 highs

(Y90.30). O/B daily studies looking to correct are the key concern for bulls

with potential to limit follow through. Bears now need a close below Y88.22 to

gain breathing room and below Y87.52 to shift focus back to key DMAs

Y86.55-87.14.

EURO-AUSSIE TECHS: 21-DMA Resistance Confirming Significance 

*RES 4: A$1.5559 - High Dec 13

*RES 3: A$1.5526 - High Dec 20

*RES 2: A$1.5467 - Hourly support Dec 21 now resistance

*RES 1: A$1.5428 - 21-DMA

*PRICE: A$1.5346 @ 2030GMT

*SUP 1: A$1.5307 - Low Jan 4 

*SUP 2: A$1.5275 - Low Dec 27 

*SUP 3: A$1.5195 - Low Nov 13 

*SUP 4: A$1.5207 - 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 still 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 still needed to see bears targeting the 200-DMA (A$1.4960).

US DOLLAR-INDEX TECHS: 92.261-518 Resistance Key Today

*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: 92.261 - High Jan 3

*PRICE: 91.862 @ 2030GMT

*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. O/S daily studies looking to correct 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 (93.655) to shift initial focus to 94.219 and

overall focus to 95.167-464.

EURO-DOLLAR TECHS: Capped Ahead of 2017 High For Now

*RES 4: $1.2569 Monthly High Dec 16 2014

*RES 3: $1.2360 Low Dec 10 2014 now resistance

*RES 2: $1.2254 High Dec 25 2014

*RES 1: $1.2092 2017 High Sept 8

*PRICE: $1.2069 @ 2000GMT

*SUP 1: $1.2038 Hourly resistance Dec 4 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: Continued hesitation ahead of 2017 highs is less than ideal given

daily studies looking to correct from O/B and the Bollinger top ($1.2074). 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 confirm a correction and shift initial focus to key

DMAs $1.1794-1.1872.

DOLLAR-YEN TECHS: Y113.13 Resistance Key Today

*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: Y112.72 @ 2000GMT

*SUP 1: Y112.45 Low Jan 4 

*SUP 2: Y111.98 Low Dec 6 

*SUP 3: Y111.67 200-DMA 

*SUP 4: Y111.35 Low Nov 29

*COMMENTARY: Despite pressuring the Y111.98-09 region where the 100-DMA is

located bears have failed to produce a close below with the recovery seeing

focus back on the Y113.13 resistance. Bulls need a close above Y113.13 to ease

bearish pressure and shift initial focus back to Y113.74-114.07. Bears now need

a close below Y112.45 to retain pressure on the key Y110.83-111.98 support

region where 100 & 200-DMAs are noted.

EURO-YEN TECHS: Below Y135.61 To Ease Bullish Pressure

*RES 4: Y141.05 Monthly High June 4 2015

*RES 3: Y140.65 High June 18 2015

*RES 2: Y139.02 Monthly High Aug 2015

*RES 1: Y136.40 High Oct 21 2015

*PRICE: Y136.09 @ 2030GMT

*SUP 1: Y135.97 Hourly support Jan 4 

*SUP 2: Y135.61 High Jan 2 now support 

*SUP 3: Y134.78 Low Jan 3 

*SUP 4: Y134.28 Hourly support Dec 27

*COMMENTARY: Fresh 2+ year highs continue to add support to the bullish case for

a move targeting Y139.02-141.05. The Bolli top & O/B studies are key concerns

for bulls. Layers of support continue to build with bears now needing a close

below Y135.61 to ease bullish pressure and below Y134.78 to shift focus back to

Y133.88-134.11 where the 21-DMA is located.

SPOT GOLD TECHS: Bulls Targeting 2017 High

*RES 4: $1374.9 - 2016 High July 6 

*RES 3: $1367.3 - Monthly High Aug 2 2016 

*RES 2: $1357.5 - 2017 High Sept 8 

*RES 1: $1334.8 - High Sept 13

*PRICE: $1323.1 @ 2030GMT

*SUP 1: $1316.9 - Hourly resistance Jan 3 now support 

*SUP 2: $1302.5 - Low Jan 2 

*SUP 3: $1293.5 - Low Dec 29 

*SUP 4: $1288.0 - 100-DMA

*COMMENTARY: Bulls take comfort in the likely close above $1321.3 that

reconfirms dominance and focus on $1357.5-1374.9 where 2016 & 2017 highs are

situated. O/B daily studies remain the key concern for bulls. In saying that,

bears continue to look for a close below $1302.5 to ease bullish pressure and

below the 100-DMA to hint at a deeper sell-off with below the 55-DMA ($1277.2)

confirming.

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

[TOPICS: MTABLE]