MNI Asian Morning FX Technical Analysis

9 January 2018

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bears Need Close Below $0.7802

*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: $0.7874 - High Jan 5

*PRICE: $0.7838 @ 2030GMT

*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: $0.7700 - 200-DMA

*COMMENTARY: O/B daily studies looking to correct remain a key concern for bulls

who are initially focused on $0.7906 with overall focus on 2017 highs. Topside

hesitation to start the new week is less than ideal but bears continue to look

for a close below $0.7802 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

$0.7499-00 with below $0.7580 to confirm.

KIWI TECHS: Above $0.7243 Targets 2017 High

*RES 4: $0.7276 - High Sept 26 

*RES 3: $0.7243 - High Sept 29 

*RES 2: $0.7200 - High Oct 17 

*RES 1: $0.7187 - Bollinger band top

*PRICE: $0.7178 @ 2030GMT

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

*SUP 2: $0.7107 - 200-DMA

*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 and flirts with the daily bear channel top off 2017 highs ($0.7163).

Bulls continue to 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 the 200-DMA to ease pressure on layers of

resistance.

AUSSIE-KIWI TECHS: Focus Shifts To NZ$1.0824-58

*RES 4: NZ$1.1139 - High Nov 14

*RES 3: NZ$1.1041 - 55-DMA

*RES 2: NZ$1.1014 - 100-DMA

*RES 1: NZ$1.0942 - Low Jan 5 now resistance

*PRICE: NZ$1.0916 @ 2030GMT

*SUP 1: NZ$1.0904 - Low Dec 18

*SUP 2: NZ$1.0858 - Low Dec 12

*SUP 3: NZ$1.0833 - 200-DMA

*SUP 4: NZ$1.0824 - Monthly Low Sept 21

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

Dec lows and seeing focus back on NZ$1.0724-1.0858 where the 200-DMA and key

WMAs are situated. Correcting O/B studies add weight to the case for a decent

correction. Bulls now look for a close above NZ$1.0942 to gain breathing room

and above the 55-DMA to regain control and target 2017 highs once again.

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

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

*RES 3: Y89.67 - High Sept 25 

*RES 2: Y89.57 - Daily Bull channel top 

*RES 1: Y89.09 - High Oct 23

*PRICE: Y88.61 @ 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: Y87.18 - 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

which makes Monday's topside hesitation a worry. Bears still need a close below

Y88.22 to gain breathing room and below Y87.52 to shift focus back to the 55-DMA

(Y86.56).

EURO-AUSSIE TECHS: Below A$1.5195 Targets 200-DMA

*RES 4: A$1.5467 - Hourly support Dec 21 now resistance

*RES 3: A$1.5430 - High Jan 3

*RES 2: A$1.5390 - 21-DMA

*RES 1: A$1.5275 - Low Dec 27 now resistance

*PRICE: A$1.5258 @ 2030GMT

*SUP 1: A$1.5215 - 100-DMA 

*SUP 2: A$1.5195 - Low Nov 13 

*SUP 3: A$1.5079 - Monthly Low Nov 9 

*SUP 4: A$1.4973 - 200-DMA

*COMMENTARY: The 21-DMA confirmed significance last week having capped and left

the pair looking heavy to start the new week. While the 21-DMA caps bears retain

the upper hand with a close below A$1.5195 to confirm a break of the 100-DMA and

to shift focus to A$1.4944-73 where the 200-DMA is noted. The A$1.5430

resistance is key this week. Bulls need a close above to confirm breaks of 21 &

55-DMAs and above A$1.5586 to target 2017 highs.

US DOLLAR-INDEX TECHS: Bulls Need Close Above 92.518

*RES 4: 93.064 - 21-DMA 

*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: 92.365 @ 2030GMT

*SUP 1: 92.251 - Hourly support Jan 8

*SUP 2: 92.100 - High Jan 5 now support 

*SUP 3: 91.751 - Low Jan 2

*SUP 4: 91.526 - Low Oct 19

*COMMENTARY: Correcting O/S daily studies appear to be impacting with the index

bouncing from ahead of last week's lows for a likely bullish close that sees

pressure back on 92.518. Bulls look for a close above 92.518 to ease immediate

bearish pressure and above the 55-DMA (93.608) to shift initial focus to 94.219

and overall focus to 95.167-464. Bears now need a close below 92.100 to retain

focus on tests of 2017 lows.

EURO-DOLLAR TECHS: Looking A Little Heavy

*RES 4: $1.2254 High Dec 25 2014

*RES 3: $1.2092 2017 High Sept 8

*RES 2: $1.2052 High Jan 8

*RES 1: $1.2009 Hourly resistance Jan 8

*PRICE: $1.1963 @ 2000GMT

*SUP 1: $1.1910 High Dec 27 now support 

*SUP 2: $1.1893 21-DMA 

*SUP 3: $1.1842 Daily Bull channel base (off Nov low) 

*SUP 4: $1.1826 100-DMA

*COMMENTARY: Continued hesitation ahead of 2017 highs has taken its toll with

the sell-off Monday leaving the pair looking heavy and seeing focus on support

layers $1.1802-93 where key DMAs and the bull channel base are situated. Layers

of resistance accumulating and daily studies correcting from O/B adds weight to

the bearish case. Bulls now need a close above $1.2092 to reconfirm a bullish

bias initially targeting $1.2254.

DOLLAR-YEN TECHS: Y112.86 & Y 113.44 Levels 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: Y113.20 Daily Bear channel top

*PRICE: Y113.02 @ 2000GMT

*SUP 1: Y112.86 High Jan 4 now support 

*SUP 2: Y112.45 Low Jan 4 

*SUP 3: Y111.98 Low Dec 6 

*SUP 4: Y111.69 200-DMA

*COMMENTARY: Despite pressuring Y111.98-112.17 where the 100-DMA is located

bears failed to produce a close below with the recovery resulting in a pop above

the bear channel top. Bulls look for a close above Y113.44 to confirm a break of

the channel top and shift overall focus back to Y114.72. Daily studies are well

placed for gains. Bears now look for a close below Y112.45 to return pressure to

the key Y110.83-111.98 support region where 100 & 200-DMAs are noted.

EURO-YEN TECHS: Hinting At Correction To Y133.88

*RES 4: Y136.62 2018 High Jan 5

*RES 3: Y136.32 High Jan 8

*RES 2: Y135.99 Low Jan 5 now resistance

*RES 1: Y135.61 Alternating hourly support/resistance

*PRICE: Y135.23 @ 2030GMT

*SUP 1: Y134.78 Low Jan 3 

*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: The lack of topside follow through has taken its toll with a

sell-off that leaves the pair looking a little heavy. Daily studies correcting

from O/B add weight to the case for a correction back to Y132.66-133.88 where

key DMAs and the bull channel base are situated. Layers of resistance are

accumulating and weighing. Bulls now need a close above Y135.99 to ease bearish

pressure and retain focus on Y139.02-141.05.

SPOT GOLD TECHS: $1302.5-1314.4 Support Region Key

*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: $1325.9 - 2018 High Jan 4

*PRICE: $1318.7 @ 2030GMT

*SUP 1: $1314.4 - Low Dec 5 

*SUP 2: $1302.5 - Low Jan 2 

*SUP 3: $1293.5 - Low Dec 29 

*SUP 4: $1288.7 - 100-DMA

*COMMENTARY: Bulls took comfort in the close above $1321.3 that reconfirmed

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 now look

for a close below $1314.4 to ease bullish pressure and below $1302.5 to shift

focus back to $1272.3-1288.7 where key DMAs are noted.

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

[TOPICS: MTABLE]