MNI Asian Morning FX Technical Analysis

12 January 2018

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Above $0.7906 Targets 2017 High

*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: $0.7893 @ 2030GMT

*SUP 1: $0.7859 - Hourly support Jan 11 

*SUP 2: $0.7802 - Low Jan 3 

*SUP 3: $0.7760 - Hourly support Dec 27 

*SUP 4: $0.7729 - Highs Dec 25 & 26 now support

*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. Bulls

take comfort in the break of $0.7874 and now need a close above $0.7906 to

confirm focus on 2017 highs. Bears now need a close below $0.7802 to ease

immediate bullish pressure and below the 21-DMA ($0.7767) to hint at a move back

to $0.7500 and below $0.7625 to confirm.

KIWI TECHS: Bulls Shift Overall Focus To 2017 High

*RES 4: $0.7433 - Monthly High Sept 20 

*RES 3: $0.7374 - High Sept 25 

*RES 2: $0.7288 - 200-WMA 

*RES 1: $0.7276 - High Sept 26

*PRICE: $0.7256 @ 2030GMT

*SUP 1: $0.7211 - Hourly support Jan 11

*SUP 2: $0.7173 - Hourly resistance Jan 10 now support

*SUP 3: $0.7143 - Low Jan 5

*SUP 4: $0.7130 - High Jan 2 now support

*COMMENTARY: The likely close above $0.7243 ends bearish hopes and shifts

initial focus to $0.7374-0.7433 where Sept highs are located. O/B daily studies

looking to correct remain the key concern for bulls as layers of support again

accumulate. Bears now look for a close below $0.7211 to ease bullish pressure

and below the 200-DMA to hint at a move back to $0.6952-60 where the 55-DMA is

noted.

AUSSIE-KIWI TECHS: Bears Focused On NZ$1.0824-58

*RES 4: NZ$1.1019 - 55-DMA

*RES 3: NZ$1.1014 - 100-DMA

*RES 2: NZ$1.0969 - 21-DMA

*RES 1: NZ$1.0908 - Hourly resistance Jan 11

*PRICE: NZ$1.0869 @ 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: Y89.09 - High Oct 23 

*RES 3: Y88.83 - High Jan 9 

*RES 2: Y88.27 - Hourly resistance Jan 9 

*RES 1: Y88.09 - High Jan 11

*PRICE: Y87.66 @ 2030GMT

*SUP 1: Y87.47 - Hourly resistance Jan 11 now support

*SUP 2: Y87.22 - 100-DMA

*SUP 3: Y86.54 - 55-DMA

*SUP 4: Y86.07 - 200-DMA

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

immediate focus on Y85.92-87.22 where key DMAs are situated. Bears now need a

close below Y85.92 to shift immediate focus to Y84.33 and overall focus to 2017

lows (Y81.47). Bulls continue to look for a close above Y88.27 to return focus

to Y89.06-90.30. Correcting daily studies continue to weigh with a close below

the 100-DMA to add weight to the bearish case.

EURO-AUSSIE TECHS: A$1.5312-1.5430 Resistance Region Key

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

*RES 3: A$1.5430 - High Jan 3

*RES 2: A$1.5347 - 21-DMA

*RES 1: A$1.5312 - High Jan 11

*PRICE: A$1.5249 @ 2030GMT

*SUP 1: A$1.5189 - Hourly resistance Jan 11 now support 

*SUP 2: A$1.5148 - Low Jan 11 

*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 but

continue to look for a close below the 100-DMA (A$1.5225) to add weight to their

case for a test of the 200-DMA. The A$1.5312-1.5430 resistance region remains

key. 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: 92.819 - 21-DMA 

*RES 3: 92.640 - High Jan 9 

*RES 2: 92.214 - Alternating hourly support/resistance 

*RES 1: 91.922 - Low Jan 10 now resistance

*PRICE: 91.855 @ 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: Sideways trading continues with bears taking comfort in the index

remaining capped ahead of the 21-DMA and key DMAs 92.819-93.522 as a whole.

Correcting O/S daily studies remain the key concern for bears who look for a

close below 91.751 to reconfirm focus on 2017 lows. Bulls need a close above the

21-DMA to gain breathing room and above the 55-DMA to end bearish hopes and

shift overall focus to 94.219-95.167 where the 200-DMA is noted.

EURO-DOLLAR TECHS: Focus Back to 2017 High

*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: $1.2039 @ 2000GMT

*SUP 1: $1.2018 High Jan 10 now support 

*SUP 2: $1.1973 Alternating hourly support/resistance 

*SUP 3: $1.1922 21-DMA 

*SUP 2: $1.1914 Low Jan 9

*COMMENTARY: Pressure on the 21-DMA has failed to produce a break below to

pressure 55 & 100-DMAs and the bull channel base ($1.1862) with the bounce

easing pressure on key supports and returning focus to 2017 highs. Bulls need a

close above 2017 highs to shift overall focus to tests of $1.2569 Dec 2014

monthly highs. Bears now need a close below $1.2018 to gain breathing room and

below $1.1914 to pressure $1.1815-1.1862.

DOLLAR-YEN TECHS: Bulls Need Close Above Y111.98

*RES 4: Y112.42 Hourly resistance Jan 10 

*RES 3: Y112.24 100-DMA 

*RES 2: Y111.98 Low Dec 6 now resistance 

*RES 1: Y111.26 Low Jan 10 now resistance

*PRICE: Y111.13 @ 2000GMT

*SUP 1: Y110.83 Monthly Low Nov 27 

*SUP 2: Y109.73 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 focused on Y110.83 Nov lows. Bears need

a close below Y110.83 to shift initial focus to the bear channel base and

overall focus to tests of 2017 lows. Bulls still need a close above Y111.98 to

ease immediate bearish pressure and above the 100-DMA to shift focus back to

Y112.82-113.44 where the 55-DMA and bear channel top are noted.

EURO-YEN TECHS: Bears Need Close Below 21-WMA

*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: Y134.39 Hourly support Dec 20 now resistance

*PRICE: Y133.74 @ 0530GMT

*SUP 1: Y132.80 21-WMA, 100-DMA 

*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 on recent 2018 highs took its

toll with a sell-off that leaves the pair looking a little heavy and flirting

with the 55-DMA (Y133.31) & bull channel base (Y133.26). Bears look for a close

below the 21-WMA to confirm focus on Y130.59-132.03 where monthly lows are

noted. Bulls continue to look for a close above Y135.11 to shift focus back to

2018 highs.

SPOT GOLD TECHS: $1302.5-1315.4 Support Now 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: $1326.6 - 2018 High Jan 10

*PRICE: $1323.2 @ 2030GMT

*SUP 1: $1315.4 - Low Jan 11 

*SUP 2: $1305.9 - Low Jan 4 

*SUP 3: $1302.5 - Low Jan 2 

*SUP 4: $1293.5 - Low Dec 29

*COMMENTARY: Bulls take comfort in pressure returning to recent 2018 highs and

remain focused on tests of $1357.5-1374.9 where 2016 & 2017 highs are situated.

O/B daily studies remain the key concern for bulls. Initial support is noted at

Thursday's low with bears now needing a close below to ease pressure on initial

resistance and below $1302.5 to shift focus back to $1273.2-1289.6 where key

DMAs are noted.

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

[TOPICS: MTABLE]