MNI Asian Morning FX Technical Analysis

27 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 $0.7648

*RES 4: $0.7702 - Hourly resistance Apr 20

*RES 3: $0.7648 - Hourly resistance Apr 23

*RES 2: $0.7620 - High Apr 24

*RES 1: $0.7590 - Hourly resistance Apr 25

*PRICE: $0.7553 @ 2130GMT

*SUP 1: $0.7498 - Monthly Low Dec 8 2017 

*SUP 2: $0.7368 - Monthly Low June 1 2017 

*SUP 3: $0.7326 - Monthly Low May 9 2017 

*SUP 4: $0.7266 - Low Jan 5 2017

*COMMENTARY: Immediate focus remains on $0.7498 Dec lows. O/S daily studies and

the Bolli base ($0.7559) are concerns. Bears look for a close below $0.7498 to

confirm traction below the LT bull channel base and initially target $0.7326 May

2017 lows. Layers of resistance accumulating add weight to the bearish case with

bulls needing a close above $0.7648 to ease bearish pressure and above $0.7735

to shift focus back to $0.7808-42 where the 200-DMA is noted.

     KIWI TECHS: Immediate Focus On $0.6952

*RES 4: $0.7176 - 200-DMA 

*RES 3: $0.7157 - High Apr 24 

*RES 2: $0.7132 - Hourly resistance Apr 24 

*RES 1: $0.7102 - Hourly support Apr 25 now resistance

*PRICE: $0.7059 @ 2130GMT

*SUP 1: $0.7042 - High Dec 26 now support

*SUP 2: $0.6952 - Low Dec 20

*SUP 3: $0.6899 - Low Dec 12

*SUP 4: $0.6815 - Monthly Low Dec 1

*COMMENTARY: The pair remains heavy with bears focused on the $0.6952 support

from Dec 20. The Bollinger base ($0.7045) remains the key concern for bears.

Bears look for a close below $0.6952 to initially target $0.6779 Nov lows.

Layers of resistance continue to build with bulls now needing a close above

$0.7102 to gain breathing room and above $0.7198 to initially target a

correction back to $0.7258-0.7302.

     AUSSIE-KIWI TECHS: Bears Need Close Below 55-DMA

*RES 4: NZ$1.0826 - High Feb 28

*RES 3: NZ$1.0805 - 55-WMA

*RES 2: NZ$1.0794 - 21-WMA

*RES 1: NZ$1.0762 - High Mar 22

*PRICE: NZ$1.0692 @ 2130GMT

*SUP 1: NZ$1.0669 - 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$1.0795-1.0894 where key DMAs, WMAs and the bear

channel top are situated. Bears need a close below the 55-DMA to gain breathing

room and below NZ$1.0601 to shift focus back to NZ$1.0459-86 where bull and bear

channel bases & 2018 lows are noted.

     AUSSIE-YEN TECHS: Bears Need Close Below Y82.43

*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: Y82.53 @ 2130GMT

*SUP 1: Y82.43 - Low Apr 20

*SUP 2: Y81.87 - Low Apr 6

*SUP 3: Y81.26 - Low Apr 4

*SUP 4: Y80.77 - Low Mar 28

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

rejection ahead of this level last week leaving the pair looking heavy and

flirting with the 21-DMA (Y82.62). 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 have

weighed 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: Below A$1.5961 To Shift Focus To A$1.5771-1.5870

*RES 4: A$1.6191 - 2018 High Mar 28

*RES 3: A$1.6140 - High Apr 25

*RES 2: A$1.6102 - Bollinger band top

*RES 1: A$1.6056 - Hourly support Apr 26 now resistance

*PRICE: A$1.6023 @ 2130GMT

*SUP 1: A$1.5976 - 21-DMA 

*SUP 2: A$1.5961 - Low Apr 20 

*SUP 3: A$1.5929 - Hourly resistance Apr 19 now support 

*SUP 4: A$1.5877 - 55-DMA

*COMMENTARY: Hesitation around the Bollinger band top sees the pair looking a

little offered and pressure back on A$1.5961. Bears continue to look for a close

below A$1.5961 to shift focus back to A$1.5771-1.5877 where the bull channel

base and 55-DMA are situated. Bulls now need a close above A$1.6056 to gain

breathing room and above A$1.6191 to target A$1.6250 2016 highs.

     US DOLLAR-INDEX TECHS: Bears Need Close Below 91.320

*RES 4: 92.012 - 200-DMA 

*RES 3: 91.958 - Weekly Bear channel top off 2017 high 

*RES 2: 91.906 - Daily Bull channel top 

*RES 1: 91.751 - Low Jan 2 now resistance

*PRICE: 91.594 @ 2130GMT

*SUP 1: 91.426 - Hourly support Apr 26

*SUP 2: 91.320 - Hourly resistance Apr 26 now support

*SUP 3: 90.935 - Hourly support Apr 25

*SUP 4: 90.686 - 100-DMA

*COMMENTARY: The index remains bid with the close above 91.076 confirming

immediate focus on 91.751-92.012 where channel tops and the 200-DMA are located.

Bulls need a close above the 200-DMA to then target 92.625-997. Layers of

support are adding to bullish confidence. Bears now need a close below 91.320 to

ease gain breathing room and below 90.935 to shift focus initial focus back to

90.483-686 where the 100-DMA is noted.

     EURO-DOLLAR TECHS: Pressuring Key Weekly Support

*RES 4: $1.2312 Hourly support Apr 20 now resistance

*RES 3: $1.2248 Low Apr 20 now resistance

*RES 2: $1.2218 100-DMA

*RES 1: $1.2144 Hourly support Apr 26 now resistance

*PRICE: $1.2102 @ 2100GMT

*SUP 1: $1.2092 Weekly High Jan 4 now support 

*SUP 2: $1.2027 Daily Bear channel base 

*SUP 3: $1.2008 200-DMA 

*SUP 4: $1.1914 2018 Low Jan 19

*COMMENTARY: Pressure is now on the key $1.2092 weekly support with a close

below needed to hint at a test of 2018 lows with below the 200-DMA to confirm.

Daily studies still have a little room to move before O/S is a concern as layers

of resistance accumulate and weigh. Bulls now need a close above $1.2144 to gain

breathing room and above the 55-DMA ($1.2315) to shift focus back to

$1.2395-1.2476 where the bear channel top is noted.

     DOLLAR-YEN TECHS: Bears Still Need Close Below Y108.97

*RES 4: Y110.25 200-DMA 

*RES 3: Y110.18 Daily Bull channel top 

*RES 2: Y109.79 High Feb 8 

*RES 1: Y109.46 100-WMA

*PRICE: Y109.28 @ 2130GMT

*SUP 1: Y108.97 Hourly support Apr 25 

*SUP 2: Y108.54 Hourly support Apr 23 

*SUP 3: Y108.27 Hourly resistance Apr 23 now support 

*SUP 4: Y107.85 High Apr 20 now support

*COMMENTARY: Immediate focus remains on WMAs & DMAs Y109.46-110.47. A close

above Y110.47 is needed to confirm breaks and target 2018 highs. Initial support

is noted at Y108.97 with bears needing a close below to gain breathing room and

below Y108.54 to shift focus back to Y107.85. A close below Y107.85 then targets

Y106.57-107.47 where the 21 (Y107.47) & 55 (Y106.85) DMAs are situated. The

Bollinger top (Y109.46) remains the key concern for bulls.

     EURO-YEN TECHS: Bears Now Need Close Below 55-DMA

*RES 4: Y134.79 High Feb 8

*RES 3: Y134.16 High Feb 9

*RES 2: Y133.53 Bollinger band top

*RES 1: Y133.48 High Apr 24

*PRICE: Y132.28 @ 2130GMT

*SUP 1: Y132.02 Low Apr 20 

*SUP 2: Y131.78 Low Apr 12 

*SUP 3: Y131.60 55-DMA 

*SUP 4: Y131.05 Low Apr 5

*COMMENTARY: Follow through above the 100-DMA (Y133.02) & 21-WMA (Y132.93)

remains lacking with focus back on Y131.62-132.02 as daily studies correct from

O/B. Bears need a close below Y131.05 to confirm traction below the 55-DMA and

to shift focus to Y128.94-130.13 where 55 (Y130.13) & 200 (Y129.30) WMAs are

noted. Bulls continue to look for a close above Y134.16 to confirm focus on 2018

highs although the Bollinger top (Y133.53) may limit follow through.

     SPOT GOLD TECHS: Below $1302.5 Shifts Overall Focus To 200-WMA

*RES 4: $1332.6 - High Apr 24 

*RES 3: $1326.6 - High Apr 16 

*RES 2: $1321.3 - Hourly support Apr 27 now resistance 

*RES 1: $1319.5 - 100-DMA

*PRICE: $1316.9 @ 2130GMT

*SUP 1: $1306.9 - Low Mar 20 

*SUP 2: $1302.9 - 200-DMA 

*SUP 3: $1302.5 - Monthly Low Mar 1 

*SUP 4: $1291.1 - 55-WMA

*COMMENTARY: Bears take comfort in a close below the 100-DMA that sees immediate

focus on $1302.5-1306.9 where the 200-DMA & 2018 lows are noted. Bears need a

close below $1302.5 to hint at a move back to the 200-WMA ($1234.6) and Dec low

($1235.9) with below the 55-WMA to confirm. Bulls now need a close above $1326.7

to gain breathing room and above the 21-DMA to shift initial focus back to

$1354.3-1366.1 where 2018 highs are noted.

     NYMEX WTI TECHS: (M18) Finding Support On Dips

*RES 4: $71.03 - Daily Bull channel top 

*RES 3: $70.19 - Bollinger band top 

*RES 2: $69.55 - 2018 High Apr 19 

*RES 1: $68.78 - High Apr 26

*PRICE: $68.20 @ 2130GMT

*SUP 1: $67.11 - Low Apr 25 

*SUP 2: $66.54 - Low Apr 18 

*SUP 3: $65.95 - 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. Bears look for a close below $67.11 to gain breathing room and

hint at a correction back to $65.09-95 where the 21-DMA is found. Bulls need a

close above $69.55 to reconfirm focus on $71.03-73.25 where the MT bull channel

top is noted.

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

[TOPICS: MTABLE]