-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI Asian Morning FX Technical Analysis
24 January 2018
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/h8lzqnc
AUSSIE TECHS: Topside Hesitation A Concern For Bulls
*RES 4: $0.8162 - Monthly high May 14 2015
*RES 3: $0.8124 - 2017 High Sept 8
*RES 2: $0.8102 - High Sept 20
*RES 1: $0.8038 - 2018 High Jan 19
*PRICE: $0.7992 @ 2030GMT
*SUP 1: $0.7954 - Low Jan 23
*SUP 2: $0.7935 - Low Jan 16
*SUP 3: $0.7916 - High Jan 12
*SUP 4: $0.7882 - Hourly support Jan 12
*COMMENTARY: Follow through was again lacking on Friday's 2018 & 4mth highs
which is a concern with daily studies looking to correct from O/B. The break of
$0.7959 lacked follow through Thursday with bears now needing a close below
$0.7916 to target a correction back to $0.7774-0.7874 where the 100-DMA is
noted. While $0.7916 supports bulls remain focused on 2017 highs and then
$0.8295 2015 highs on a close above.
KIWI TECHS: $0.7300 Support Key Today
*RES 4: $0.7525 - High July 28
*RES 3: $0.7458 - Low July 28 now resistance
*RES 2: $0.7433 - Monthly High Sept 20
*RES 1: $0.7374 - High Sept 25
*PRICE: $0.7347 @ 2030GMT
*SUP 1: $0.7300 - Hourly support Jan 23
*SUP 2: $0.7244 - Low Jan 18
*SUP 3: $0.7233 - Low Jan 17
*SUP 4: $0.7221 - Low Jan 12
*COMMENTARY: The close above $0.7243 in previous weeks ended bearish hopes and
shifted initial focus to $0.7374-0.7433. O/B daily studies looking to correct
remain the key concern for bulls as layers of support build. Bears look for a
close below $0.7300 to ease immediate bullish pressure and below $0.7221 to
target a correction back to $0.7123-30 where the 200-DMA is situated. Overall
below the 55-DMA ($0.7018) is needed to confirm focus on 2017 lows ($0.6779).
AUSSIE-KIWI TECHS: Focus Back On NZ$1.0732-1.0840
*RES 4: NZ$1.1006 - 100-DMA
*RES 3: NZ$1.0990 - 55-DMA
*RES 2: NZ$1.0920 - Low Jan 22 now resistance
*RES 1: NZ$1.0888 - Hourly resistance Jan 23
*PRICE: NZ$1.0874 @ 2030GMT
*SUP 1: NZ$1.0840 - 200-DMA
*SUP 2: NZ$1.0824 - Monthly Low Sept 21
*SUP 3: NZ$1.0807 - 55-WMA
*SUP 4: NZ$1.0732 - 100-WMA
*COMMENTARY: The 55 & 100-DMAs have proven significance having capped that
recovery from 2018 lows with pressure back on NZ$1.0824-40 where the 200-DMA is
located. The 100-WMA remains key support. Bears need a close below the 100-WMA
(NZ$1.0732) to initially target 2017 lows. Layers of resistance have accumulated
on the sell-off with bulls now needing a close above NZ$1.0920 to ease pressure
on key supports and above the 100-DMA to shift focus higher.
AUSSIE-YEN TECHS: 100-DMA Support Now Key
*RES 4: Y89.67 - High Sept 25
*RES 3: Y89.09 - High Oct 23, Bollinger band top
*RES 2: Y88.78 - Hourly support Jan 23 now resistance
*RES 1: Y88.38 - Low Jan 19
*PRICE: Y88.13 @ 2030GMT
*SUP 1: Y87.73 - Low Jan 16
*SUP 2: Y87.32 - 100-DMA
*SUP 3: Y86.70 - 55-DMA
*SUP 4: Y86.30 - 200-DMA
*COMMENTARY: Bulls again failed to take out Y89.09 with the correction leaving
the pair looking a little heavy. The 100-DMA is now key support. Bears look for
a close below the 100-DMA to initially focus on Y85.92-86.64 where 55 & 200-DMAs
are situated. Bulls continue to look for a close above Y89.09 reconfirm a
bullish bias and focus on tests of 2017 highs (Y90.30). The Bollinger band top
is the key concern for bulls and limits follow through.
EURO-AUSSIE TECHS: Bulls Need Close Above A$1.5446
*RES 4: A$1.5526 - High Dec 20
*RES 3: A$1.5467 - Hourly support Dec 21 now resistance
*RES 2: A$1.5446 - High Jan 12
*RES 1: A$1.5429 - 55-DMA
*PRICE: A$1.5366 @ 2030GMT
*SUP 1: A$1.5316 - Hourly resistance Jan 23 now support
*SUP 2: A$1.5254 - 100-DMA
*SUP 3: A$1.5189 - Hourly resistance Jan 11 now support
*SUP 4: A$1.5148 - 2018 Low Jan 11
*COMMENTARY: The pair remains supported ahead of the 100-DMA after having failed
to gain traction above the 55-DMA in recent weeks. Bulls continue to look for a
close above A$1.5446 to confirm a break of the 55-DMA, regaining the upper hand
and returning focus to tests of 2017 highs (A$1.5774). Bears continue to look
for a close below the 100-DMA to reconfirm focus on A$1.5034-79 where the
200-DMA is situated.
US DOLLAR-INDEX TECHS: Remains Heavy
*RES 4: 91.523 - Hourly resistance Jan 12
*RES 3: 91.011 - Low Sept 8 now resistance
*RES 2: 90.704 - High Jan 22
*RES 1: 90.294 - Hourly resistance Jan 23
*PRICE: 90.174 @ 0530GMT
*SUP 1: 90.113 - 2018 Low Jan 17
*SUP 2: 89.776 - Low Dec 26 2014
*SUP 3: 89.769 - Bollinger band base
*SUP 4: 88.921 - Low Dec 18 2014
*COMMENTARY: Sideways trading continues with the index remaining capped ahead of
the 91.011 resistance. Bears still need a close below 90.113 to retain overall
focus on tests of the 88.125 Dec 2014 monthly low with O/S daily studies
remaining their key concern. Bulls still need a close above 91.011 to ease
bearish pressure and above 91.751 to hint at a correction back to 92.640-93.051
where key DMAs are clustered.
EURO-DOLLAR TECHS: $1.2156 & 1.2322 Levels Remain Key
*RES 4: $1.2599 Monthly High Nov 19 2014
*RES 3: $1.2569 Monthly High Dec 16 2014
*RES 2: $1.2360 Low Dec 10 2014 now resistance
*RES 1: $1.2322 2018 High Jan 17
*PRICE: $1.2286 @ 2000GMT
*SUP 1: $1.2270 Hourly support Jan 24
*SUP 2: $1.2213 Low Jan 22
*SUP 3: $1.2156 Hourly resistance Jan 12 now support
*SUP 4: $1.2111 Hourly support Jan 12
*COMMENTARY: Bulls take comfort in support emerging on dips that retains focus
on $1.2322 despite daily studies remaining at O/B levels and overdue a
correction. Bulls need a close above $1.2322 to reconfirm focus on the LT bear
channel top $1.2686. Support layers are building once again but bears continue
to look for a close below $1.2156 to confirm an easing of bullish pressure and
below the 21-DMA ($1.2077) to shift focus back to $1.1857-1.1914.
DOLLAR-YEN TECHS: Pressuring Key Support
*RES 4: Y111.98 Low Dec 6 now resistance
*RES 3: Y111.76 200-DMA
*RES 2: Y111.23 High Jan 22
*RES 1: Y110.55 Hourly resistance Jan 23
*PRICE: Y110.31 @ 2000GMT
*SUP 1: Y110.18 2018 Low Jan 17
*SUP 2: Y109.52 Low Sept 15
*SUP 3: Y107.31 2017 Low Sept 8
*SUP 4: Y104.95 Low Now 10 2016
*COMMENTARY: The rejection ahead of the 200-DMA (Y111.76) last week left the
pair looking a little heavy and focus back on layers of support Y109.52-110.18.
Bears continue to look for a close below Y109.52 to add weight to the case for a
test of 2017 lows. O/S daily studies remain a concern for bears. Bulls need a
close above the 200-DMA to gain breathing room and above the 55-DMA (Y112.38) to
shift initial focus to Y112.86-113.44.
EURO-YEN TECHS: 21-DMA Supporting, Y134.81 Support Remains Key
*RES 4: Y139.02 Monthly High Aug 2015
*RES 3: Y136.62 2018 High Jan 5, Bollinger band top
*RES 2: Y136.32 High Jan 8
*RES 1: Y135.71 Hourly resistance Jan 23
*PRICE: Y135.51 @ 2030GMT
*SUP 1: Y135.16 21-DMA
*SUP 2: Y134.81 Hourly support Jan 12
*SUP 3: Y134.39 Alternating hourly support/resistance
*SUP 4: Y133.60 Hourly support Jan 11
*COMMENTARY: The recovery form dips below the 55-DMA and channel base in recent
weeks sees the pair supported ahead of the 21-DMA. The Y134.81 support remains
key. Bears still need a close below Y134.81 to ease bullish pressure and shift
focus back to the 21-WMA (133.35) and 100-DMA (Y133.20). Below the 100-DMA
shifts focus to Y130.59-132.03. While Y134.81 supports focus remains on the
close above Y136.62 needed to confirm focus on Y139.02-141.05.
SPOT GOLD TECHS: Below $1315.4 To Target $1289.5-1293.5
*RES 4: $1374.9 - 2016 High July 6 2016
*RES 3: $1367.3 - Monthly High Aug 2 2016
*RES 2: $1357.5 - 2017 High Sept 8
*RES 1: $1344.5 - 2018 High Jan 15
*PRICE: $1339.3 @ 2030GMT
*SUP 1: $1321.2 - Hourly support Jan 12
*SUP 2: $1317.3 - 21-DMA
*SUP 3: $1315.4 - Low Jan 11
*SUP 4: $1305.9 - Low Jan 4
*COMMENTARY: Gold was rejected ahead of recent 2018 highs last Wed with the
sell-off so far lacking follow through and bulls taking comfort in recovering
lost ground. Momentum studies have corrected to neutral levels but other studies
are correcting from O/B. Bulls need a close above $1344.5 to reconfirm focus on
2017 and then 2016 highs. Bears look for a close below $1315.4 to target
$1289.5-1293.5 where 55 & 100-DMAs are noted.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.