MNI Asian Morning FX Technical Analysis

25 April 2018

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bulls Need Close Above $0.7640

*RES 4: $0.7735 - Low Apr 12 now resistance

*RES 3: $0.7702 - Hourly resistance Apr 20

*RES 2: $0.7648 - Hourly resistance Apr 23

*RES 1: $0.7620 - High Apr 24

*PRICE: $0.7602 @ 2130GMT

*SUP 1: $0.7577 - Low Apr 24 

*SUP 2: $0.7498 - Monthly Low Dec 8 

*SUP 3: $0.7368 - Monthly Low June 1 

*SUP 4: $0.7326 - Monthly Low May 9

*COMMENTARY: The sell-off from 200-DMA ($0.7810) failures last week resulted in

fresh 2018 & 4mth lows with the pair flirting with the LT bull channel base off

2016 lows ($0.7603). Bears look for a close below $0.7577 to initially pressure

Dec lows. A close below Dec lows then targets $0.7326 May lows. Bulls need a

close above $0.7640 to gain breathing room and above $0.7735 to shift focus back

to $0.7810-42 where the 200-DMA is noted. The Bollinger base ($0.7588) remains

the key concern for bears.

     KIWI TECHS: Bull Channel Base Supporting

*RES 4: $0.7259 - Low Apr 19 

*RES 3: $0.7198 - Low Apr 20 now resistance 

*RES 2: $0.7180 - 200-DMA 

*RES 1: $0.7145 - Hourly support Apr 23 now resistance

*PRICE: $0.7118 @ 2130GMT

*SUP 1: $0.7103 - Daily Bull channel base off 2017 low

*SUP 2: $0.7071 - Lows Jan 3 & 4

*SUP 3: $0.7042 - High Dec 26 now support

*SUP 4: $0.6952 - Low Dec 20

*COMMENTARY: The sell-off from $0.7395 sees the pair finding support around the

daily bull channel base off 2017 lows for now. Bears now look for a close below

$0.7071 to confirm a break and below $0.7042 to hint at a move back to 2017 lows

($0.6779). The Bollinger base ($0.7112) is the key concern for bears and limits

follow through. Bulls now need a close above $0.7145 to gain breathing room and

above $0.7198 to target a correction back to $0.7259-0.7302.

     AUSSIE-KIWI TECHS: Looking To Gain Traction Above 55-DMA

*RES 4: NZ$1.0805 - 55-WMA

*RES 3: NZ$1.0794 - 100-DMA

*RES 2: NZ$1.0762 - High Mar 22

*RES 1: NZ$1.0694 - 21-WMA

*PRICE: NZ$1.0675 @ 2130GMT

*SUP 1: NZ$1.0670 - 55-DMA

*SUP 2: NZ$1.0601 - High Apr 17 now support

*SUP 3: NZ$1.0549 - Low Apr 16

*SUP 4: NZ$1.0486 - 2018 Low Apr 12

*COMMENTARY: The bounce from recent 2018 & 9mth lows confirmed the significance

of the LT rising daily TL (NZ$1.0477) off 2015 lows with the close above the

55-DMA shifting focus to NZ$1.0794-1.0894 where key DMAs, WMAs and the bear

channel top are situated. Bears now look for a close below the 55-DMA to gain

breathing room and below NZ$1.0601 to shift focus back to NZ$1.0465-86 where

bull and bear channel bases & 2018 lows are noted.

     AUSSIE-YEN TECHS: Y81.87-82.55 Support Region Key

*RES 4: Y84.06 - High Apr 13 

*RES 3: Y83.94 - High Apr 19 

*RES 2: Y83.59 - Hourly support Apr 18 now resistance 

*RES 1: Y83.15 - High Apr 20

*PRICE: Y82.74 @ 2130GMT

*SUP 1: Y82.55 - 21-DMA

*SUP 2: Y82.43 - Low Apr 20

*SUP 3: Y81.87 - Low Apr 6

*SUP 4: Y81.26 - Low Apr 4

*COMMENTARY: The Y84.06 resistance confirmed significance with an aggressive

rejection ahead of this level Thursday leaving the pair looking heavy and

initial focus back on the 21-DMA. Bears need a close below Y82.43 to hint at a

move back to 2018 lows with below Y81.87 to confirm. Correcting O/B studies are

weighing with bulls needing a close above Y83.15 to gain breathing room and

above Y84.06 to shift initial focus to Y84.89-85.59.

     EURO-AUSSIE TECHS: A$1.5961-1.6017 Support Region Key

*RES 4: A$1.6250 - 2016 High Feb 11

*RES 3: A$1.6191 - 2018 High Mar 28

*RES 2: A$1.6117 - High Mar 29

*RES 1: A$1.6110 - Bollinger band top

*PRICE: A$1.6083 @ 2130GMT

*SUP 1: A$1.6017 - Low Apr 24 

*SUP 2: A$1.5929 - Hourly resistance Apr 19 now support 

*SUP 3: A$1.5865 - 55-DMA 

*SUP 4: A$1.5771 - Low Apr 13

*COMMENTARY: Bulls took comfort in support emerging on dips back to the 55-DMA

with bulls now focused on A$1.6110-1.6192 where 2018 highs and the Bollinger top

are located. Bears now look for a close below A$1.6017 to ease bullish pressure

and below A$1.5961 to shift focus back to A$1.5771-1.5865 where the bull channel

base and 55-DMA are situated. The Bollinger top is now a concern for bulls and

currently caps.

     US DOLLAR-INDEX TECHS: Topside Follow Through Lacking

*RES 4: 92.045 - 200-DMA 

*RES 3: 92.008 - Weekly Bear channel top off 2017 high 

*RES 2: 91.751 - Low Jan 2 now resistance 

*RES 1: 91.076 - High Apr 24

*PRICE: 90.896 @ 2130GMT

*SUP 1: 90.618 - Hourly support Apr 23

*SUP 2: 90.483 - Hourly resistance Apr 23 now support

*SUP 3: 90.209 - Hourly support Apr 20

*SUP 4: 89.896 - 55-DMA

*COMMENTARY: The lack of follow through on the pop above 91.011 is less than

ideal for bulls who now need a close above 91.076 to shift focus to

91.751-92.045 where the 200-DMA and weekly bear channel top off 2017 highs are

noted. Daily studies are well placed for gains with the Bollinger top (90.804)

the key concern. Bears need a close below 90.483 to ease bullish pressure and

below the 55-DMA to shift focus back to 88.942-89.229.

     EURO-DOLLAR TECHS: Flirting With 21-WMA & 100-DMA

*RES 4: $1.2402 Daily Bear channel top off Feb high

*RES 3: $1.2359 Hourly resistance Apr 19

*RES 2: $1.2312 Hourly support Apr 20 now resistance

*RES 1: $1.2248 Low Apr 20 now resistance

*PRICE: $1.2231 @ 2100GMT

*SUP 1: $1.2183 Hourly support Apr 24 

*SUP 2: $1.2153 Low Mar 1 

*SUP 3: $1.2092 High Jan 4 now support 

*SUP 4: $1.2034 Daily Bear channel base

*COMMENTARY: The pair continues to flirt with the 21-WMA ($1.2206) & 100-DMA

($1.2212) as bears focus immediate attention on $1.2153. Bears still need a

close below $1.2153 to shift initial focus to $1.2004-92 where the bear channel

base ($1.2034) & 200-DMA ($1.2004) are situated. Bulls continue to look for a

close above $1.2248 to gain breathing room and above $1.2413 to confirm a break

of the bear channel top and shift focus back to $1.2476-1.2555.

     DOLLAR-YEN TECHS: Bears Need Close Below Y108.54

*RES 4: Y109.90 Daily Bull channel top 

*RES 3: Y109.79 High Feb 8 

*RES 2: Y109.45 100-WMA 

*RES 1: Y109.19 High Apr 24

*PRICE: Y108.81 @ 2130GMT

*SUP 1: Y108.54 Hourly support Apr 23 

*SUP 2: Y108.27 Hourly resistance Apr 23 now support 

*SUP 3: Y107.85 High Apr 20 now support 

*SUP 4: Y107.48 Hourly support Apr 20

*COMMENTARY: Bulls flexed their muscles Monday confirming immediate focus on

WMAs & DMAs Y109.45-110.47. A close above Y110.47 is needed to confirm breaks

and target 2018 highs. Initial support is noted at Y108.54 with bears needing a

close below to gain breathing room. A close below Y107.85 is then needed to see

initial focus return to Y106.57-107.19 where the 21 (Y107.19) & 55 (Y106.82)

DMAs are situated. The Bollinger top (Y108.72) is the key concern for bulls.

     EURO-YEN TECHS: Correcting O/B Daily Studies

*RES 4: Y134.79 High Feb 8

*RES 3: Y134.16 High Feb 9

*RES 2: Y133.51 Bollinger band top

*RES 1: Y133.48 High Apr 24

*PRICE: Y133.10 @ 2130GMT

*SUP 1: Y132.59 Low Apr 24 

*SUP 2: Y132.02 Low Apr 20 

*SUP 3: Y131.78 Low Apr 12 

*SUP 4: Y131.63 55-DMA

*COMMENTARY: Pressure on the 100-DMA (Y133.04) & 21-WMA (Y132.97) have finally

taken their toll with a break higher Tuesday. In saying that, follow through has

been lacking courtesy of the Bollinger top with correcting O/B daily studies and

momentum divergence a concern for bulls. Bears now need a close below Y132.59 to

see focus return to Y131.65-132.02 where the 21 (Y131.91) & 55-DMA are found.

Bulls now look for a close above Y134.16 to confirm focus on 2018 highs.

     SPOT GOLD TECHS: 100-DMA Support Key This Week

*RES 4: $1356.0 - Bollinger band top 

*RES 3: $1355.7 - High Apr 18 

*RES 2: $1339.3 - Hourly resistance Apr 20 

*RES 1: $1337.9 - 21-DMA

*PRICE: $1330.3 @ 2130GMT

*SUP 1: $1321.2 - Low Apr 6 

*SUP 2: $1318.5 - 100-DMA 

*SUP 3: $1306.9 - Low Mar 20 

*SUP 4: $1302.5 - Monthly Low Mar 1

*COMMENTARY: Bulls take comfort in support emerging ahead of the 100-DMA as gold

flirts with the 55-DMA ($1331.0). Bulls look for a close above $1339.3 to

confirm breaks of 21 & 55-DMAs with focus shifting to $1355.7-1366.1 where 2018

highs are noted. Bears continue to look for a close below the 100-DMA to shift

initial focus back to $1291.2-1302.5 where the 55-WMA ($1291.2), 200-DMA

($1302.1) & March low ($1302.5) are located.

     NYMEX WTI TECHS: (M18) Bears Need Close Below $67.14

*RES 4: $73.25 - Low Nov 11 2014 now resistance 

*RES 3: $70.85 - Daily Bull channel top 

*RES 2: $69.55 - 2018 High Apr 19 

*RES 1: $68.33 - Hourly support Apr 24 now resistance

*PRICE: $67.72 @ 2130GMT

*SUP 1: $67.14 - Low Apr 23 

*SUP 2: $66.54 - Low Apr 18 

*SUP 3: $65.69 - 21-DMA 

*SUP 4: $65.09 - Low Apr 11

*COMMENTARY: The rejection ahead of 2018 highs Tuesday is a concern for bulls

when combined with daily studies correcting from O/B and the proximity of the

Bollinger top ($69.70). Pressure has returned to the $67.14 support. Bears look

for a close below $67.14 to gain breathing room and hint at a correction back to

$65.09-69 where the 21-DMA is found. Bulls need a close above $69.55 to

reconfirm focus on $70.85-73.25 where the MT bull channel top is noted.

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

[TOPICS: MTABLE]