MNI Asian Morning FX Technical Analysis

10 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: $0.7823 @ 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: $0.7702 - 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 was 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: Bears Need Close Below 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: $0.7194 - Bollinger band top

*PRICE: $0.7170 @ 2030GMT

*SUP 1: $0.7143 - Low Jan 5

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

*SUP 3: $0.7108 - 200-DMA

*SUP 4: $0.7073 - Hourly support 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 ($0.7160).

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: Bears Focused On NZ$1.0824-58

*RES 4: NZ$1.1139 - High Nov 14

*RES 3: NZ$1.1030 - 55-DMA

*RES 2: NZ$1.1015 - 100-DMA

*RES 1: NZ$1.0969 - 21-DMA

*PRICE: NZ$1.0903 @ 2030GMT

*SUP 1: NZ$1.0885 - Low Jan 9

*SUP 2: NZ$1.0858 - Low Dec 12

*SUP 3: NZ$1.0834 - 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 the 21-DMA to gain breathing room

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

AUSSIE-YEN TECHS: Looking A Little Heavy

*RES 4: Y89.67 - High Sept 25 

*RES 3: Y89.09 - High Oct 23 

*RES 2: Y88.83 - High Jan 9 

*RES 1: Y88.27 - Hourly resistance Jan 9

*PRICE: Y88.12 @ 2030GMT

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

*SUP 2: Y87.20 - 100-DMA

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

*SUP 4: Y86.55 - 55-DMA

*COMMENTARY: The pair is looking a little heavy following losses the past two

day that sees focus return to the Y86.03-87.52 region where key DMAs are

situated. Overall bears need a close below the 200-DMA (Y86.03) to end bullish

hopes and initially target Y84.33 Nov lows. Correcting O/B studies add weight to

the bearish case. Bulls now need a close above Y88.27 to gain breathing room and

above Y89.06 to target 2017 highs.

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$1.5372 - 21-DMA

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

*PRICE: A$1.5251 @ 2030GMT

*SUP 1: A$1.5219 - 100-DMA 

*SUP 2: A$1.5195 - Low Nov 13 

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

*SUP 4: A$1.4979 - 200-DMA

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

the pair looking heavy this 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$1.4944-79 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: O/S Studies Correcting

*RES 4: 93.582 - 55-DMA 

*RES 3: 92.997 - 21-DMA 

*RES 2: 92.956 - Low Dec 27 now resistance 

*RES 1: 92.788 - Hourly resistance Dec 28

*PRICE: 92.514 @ 2030GMT

*SUP 1: 92.396 - High Jan 8 now support 

*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 and bullish closes that sees pressure

back on 92.956-93.582 where key DMAs and the bear channel top are situated.

Bulls need a close above the 55-DMA to shift initial focus to 94.219 and overall

focus to 95.167-464. Bears now need a close below 92.396 to gain breathing room

and below 92.100 to return pressure to 2018 lows.

EURO-DOLLAR TECHS: Pressure Shifts To Key DMAs

*RES 4: $1.2052 High Jan 8

*RES 3: $1.2009 Hourly resistance Jan 8a

*RES 2: $1.1982 Hourly resistance Jan 8

*RES 1: $1.1947 Hourly resistance Jan 9

*PRICE: $1.1930 @ 2000GMT

*SUP 1: $1.1910 High Dec 27 now support 

*SUP 2: $1.1901 21-DMA 

*SUP 3: $1.1849 Daily Bull channel base (off Nov low) 

*SUP 4: $1.1806 55-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 $1.1806-1.1901 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 $1.2009 to ease renewed

bearish pressure.

DOLLAR-YEN TECHS: Focus Returns To Y110.83-111.98

*RES 4: Y113.74 High Dec 12 

*RES 3: Y113.44 High Dec 22 

*RES 2: Y113.17 Daily Bear channel top 

*RES 1: Y112.91 55-DMA

*PRICE: Y112.59 @ 2030GMT

*SUP 1: Y112.37 Low Jan 9 

*SUP 2: Y111.98 Low Dec 6 

*SUP 3: Y111.70 200-DMA 

*SUP 4: Y111.35 Low Nov 29

*COMMENTARY: Time spent above the 55-DMA has been brief with the break below

Y112.86 leaving the pair looking heavy and reconfirming focus on the

Y110.83-111.98 support region where 100 & 200-DMAs are noted. Bears continue to

look for a close below Y110.83 to target 2017 lows. Bulls continue to look for a

close above Y113.44 to confirm a break of the channel top and shift overall

focus back to Y114.72.

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

*RES 4: Y135.99 Low Jan 5 now resistance

*RES 3: Y135.48 Hourly resistance Jan 8

*RES 2: Y135.11 Low Jan 8 now resistance

*RES 1: Y134.57 Hourly resistance Jan 9

*PRICE: Y134.32 @ 2030GMT

*SUP 1: Y133.88 Hourly support Dec 20 

*SUP 2: Y133.60 Hourly support Dec 19 

*SUP 3: Y133.31 55-DMA 

*SUP 4: Y133.15 Daily Bull channel base

*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 Y132.71-133.88 where

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

accumulating and weighing. Bulls now need a close above Y135.11 to ease bearish

pressure and above Y135.99 to retain focus on Y139.02-141.05.

SPOT GOLD TECHS: Below $1302.5 To Pressure Key DMAs

*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: $1313.4 @ 2030GMT

*SUP 1: $1308.7 - Low Jan 9 

*SUP 2: $1302.5 - Low Jan 2 

*SUP 3: $1293.5 - Low Dec 29 

*SUP 4: $1289.0 - 100-DMA

*COMMENTARY: Topside hesitation is less than ideal when combined with daily

studies looking to correct from O/B. In saying that, bears continue to look for

a close below $1302.5 to shift focus back to $1272.6-1289.0 where key DMAs are

noted. While $1302.5 supports bulls maintain focus on tests of $1357.5-1374.9

where 2016 & 2017 highs are situated but need a close above $1325.9 to add

support to their case.

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

[TOPICS: MTABLE]