MNI Asian Morning FX Technical Analysis

11 January 2018

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Topside Hesitation Less Than Ideal

*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: $0.7832 @ 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: $0.7703 - 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 remains less than ideal with bears continuing 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: Topside Follow Through Lacking

*RES 4: $0.7276 - High Sept 26 

*RES 3: $0.7243 - High Sept 29 

*RES 2: $0.7228 - High Jan 10 

*RES 1: $0.7203 - Bollinger band top

*PRICE: $0.7188 @ 2030GMT

*SUP 1: $0.7173 - Hourly resistance Jan 10 now support

*SUP 2: $0.7143 - Low Jan 5

*SUP 3: $0.7130 - High Jan 2 now support

*SUP 4: $0.7108 - 200-DMA

*COMMENTARY: Bulls take comfort as the pair gains traction above the 200-DMA and

flirts with the daily bear channel top off 2017 highs ($0.7157). 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 looking to correct remain the key concern

for bulls. Bears still 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$1.1025 - 55-DMA

*RES 2: NZ$1.1015 - 100-DMA

*RES 1: NZ$1.0969 - 21-DMA

*PRICE: NZ$1.0894 @ 2030GMT

*SUP 1: NZ$1.0858 - Low Dec 12

*SUP 2: NZ$1.0834 - 200-DMA

*SUP 3: NZ$1.0824 - Monthly Low Sept 21

*SUP 4: NZ$1.0788 - 55-WMA

*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 have added weight to the case for a

decent correction. Bulls continue to 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: Pressure On Key DMAs

*RES 4: Y88.83 - High Jan 9 

*RES 3: Y88.27 - Hourly resistance Jan 9 

*RES 2: Y87.91 - Hourly resistance Jan 10a 

*RES 1: Y87.69 - Hourly resistance Jan 10

*PRICE: Y87.25 @ 2030GMT

*SUP 1: Y87.20 - 100-DMA

*SUP 2: Y87.52 - High Dec 22 now support

*SUP 3: Y86.54 - 55-DMA

*SUP 4: Y86.05 - 200-DMA

*COMMENTARY: The pair remains heavy with losses defining the week so far an

immediate focus now on Y85.94-87.21 where key DMAs are situated. Bears now need

a close below Y85.94 to shift immediate focus to Y84.33 and overall focus to

2017 lows (Y81.47). Bulls now need a close above Y87.91 to gain breathing room

and above Y88.27 to return focus to Y89.06-90.30. Correcting O/B studies

continue to weigh.

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$1.5359 - 21-DMA

*RES 1: A$1.5311 - High Jan 10

*PRICE: A$1.5259 @ 2030GMT

*SUP 1: A$1.5222 - 100-DMA 

*SUP 2: A$1.5195 - Low Nov 13 

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

*SUP 4: A$1.4985 - 200-DMA

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

the pair looking heavy. 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$1.4944-85 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: Below 91.751 Targets 2017 Low

*RES 4: 93.557 - 55-DMA 

*RES 3: 92.956 - Low Dec 27 now resistance 

*RES 2: 92.928 - 21-DMA 

*RES 1: 92.640 - High Jan 9

*PRICE: 92.381 @ 2030GMT

*SUP 1: 92.214 - Hourly support Jan 10 

*SUP 2: 91.922 - Low Jan 10 

*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 closes that sees pressure back on

92.928-93.557 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 92.214 to gain breathing room and below

91.751 to return pressure to 2017 lows.

EURO-DOLLAR TECHS: Bulls Now Need Close Above $1.2018

*RES 4: $1.2092 2017 High Sept 8

*RES 3: $1.2052 High Jan 8

*RES 2: $1.2018 High Jan 10

*RES 1: $1.1973 Hourly support Jan 10 now resistance

*PRICE: $1.1949 @ 2000GMT

*SUP 1: $1.1911 21-DMA 

*SUP 2: $1.1849 Daily Bull channel base (off Nov low) 

*SUP 3: $1.1829 100-DMA 

*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 $1.1808-1.1912 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 $1.2018 to return focus

to 2017 highs.

DOLLAR-YEN TECHS: Below Y110.83 To Target 2017 Low

*RES 4: Y112.87 55-DMA 

*RES 3: Y112.42 Hourly resistance Jan 10 

*RES 2: Y112.22 100-DMA 

*RES 1: Y111.70 Hourly support Jan 10 now resistance

*PRICE: Y111.37 @ 2000GMT

*SUP 1: Y110.83 Monthly Low Nov 27 

*SUP 2: Y109.77 Daily Bear channel base 

*SUP 3: Y109.54 Low Sept 15 

*SUP 4: Y107.31 2017 Low Sept 8

*COMMENTARY: Time spent above the 55-DMA was brief with the break below Y112.86

leaving the pair looking heavy and bears now focused on Y110.83 Nov lows. Bears

now need a close below this level to shift initial focus to the bear channel

base and overall focus to tests of 2017 lows. Layers of resistance have followed

the pair lower with bulls needing a close above the 200-DMA to ease immediate

bearish pressure and above the 100-DMA to shift focus back to Y112.87-113.44.

EURO-YEN TECHS: Remains Heavy

*RES 4: Y135.48 Hourly resistance Jan 8

*RES 3: Y135.11 Low Jan 8 now resistance

*RES 2: Y134.57 Hourly resistance Jan

*RES 1: Y133.88 Hourly support Dec 20 now resistance

*PRICE: Y133.06 @ 2030GMT

*SUP 1: Y132.76 100-DMA, 21-WMA 

*SUP 2: Y132.03 Monthly Low Dec 15 

*SUP 3: Y131.71 Low Nov 28 

*SUP 4: Y131.15 Monthly Low Nov 20

*COMMENTARY: The lack of topside follow through took 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 deeper correction. Bears now need a close below the

100-DMA (Y132.77) to add weight to the case for a move targeting Y130.59-132.03.

Bulls now need a close above Y133.88 to gain breathing room and above Y135.11 to

shift focus back to 2018 highs.

SPOT GOLD TECHS: Topside Hesitation A Concern

*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: $1326.6 - 2018 High Jan 10

*PRICE: $1318.2 @ 2030GMT

*SUP 1: $1305.9 - Low Jan 4 

*SUP 2: $1302.5 - Low Jan 2 

*SUP 3: $1293.5 - Low Dec 29 

*SUP 4: $1289.3 - 100-DMA

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

studies looking to correct from O/B. Bears continue to look for a close below

$1302.5 to shift focus back to $1272.8-1289.3 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 $1326.6 to add support to their

case.

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

[TOPICS: MTABLE]