MNI Asian Morning FX Technical Analysis

13 June 2018

By Kyle Shortland

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

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: Bears Need Close Below $0.7552

*RES 4: $0.7749 - 55-WMA

*RES 3: $0.7713 - 100-DMA

*RES 2: $0.7682 - High Apr 23

*RES 1: $0.7627 - High June 8

*PRICE: $0.7572 @ 2130GMT

*SUP 1: $0.7552 - Low June 4 

*SUP 2: $0.7513 - Low June 1 

*SUP 3: $0.7474 - Low May 30 

*SUP 4: $0.7445 - Low May 15

*COMMENTARY: The sell-off following the topside failure around the 200-WMA

($0.7675) sees the pair flirting with the 21-DMA ($0.7573) with bears needing a

close below $0.7552 to shift focus to $0.7410-74 where 2018 lows are noted.

Initial resistance is noted at $0.7627. Bulls need a close above to gain

breathing room and above $0.7682 to pressure $0.7713-49 where 100 & 200-DMAs and

21 & 55-WMAs are noted. Above the 200-DMA shifts focus to $0.7916 Mar highs.

     KIWI TECHS: Below $0.6960 To Target 2018 Low

*RES 4: $0.7118 - 200-DMA 

*RES 3: $0.7102 - Hourly support Apr 25 now resistance 

*RES 2: $0.7083 - 55-DMA 

*RES 1: $0.7059 - High May 4

*PRICE: $0.7004 @ 2130GMT

*SUP 1: $0.6993 - Hourly resistance June 4 now support

*SUP 2: $0.6966 - 21-DMA

*SUP 3: $0.6960 - High May 28 now support

*SUP 4: $0.6880 - Low May 30

*COMMENTARY: Topside follow through remains lacking with bulls needing a close

above $0.7059 to confirm initial focus on $0.7083-0.7200 where 55, 100 &

200-DMAs and 21, 55, 100 & 200-WMAs are situated. Initial support is noted at

$0.6993 with bears needing a close below to gain breathing room. Overall below

$0.6960 is needed to return focus to $0.6849-80 where 2018 lows are situated.

The Bollinger top ($0.7070) and O/B studies are key concern for bulls.

     AUSSIE-KIWI TECHS: NZ$1.0697 Support Key This Week

*RES 4: NZ$1.0962 - High May 25

*RES 3: NZ$1.0906 - Low May 25 now resistance

*RES 2: NZ$1.0875 - 200-DMA

*RES 1: NZ$1.0854 - High June 8

*PRICE: NZ$1.0808 @ 2130GMT

*SUP 1: NZ$1.0774 - Low June 1

*SUP 2: NZ$1.0762 - Alternating daily support/resistance

*SUP 3: NZ$1.0746 - 100-DMA

*SUP 4: NZ$1.0734 - 55-DMA

*COMMENTARY: Failure to take out NZ$1.0906 reconfirmed its significance with a

sell-off Friday reconfirming a return in focus to NZ$1.0697-1.0774 where 55 &

100-DMAs and the 100-WMA are noted. Bears now need a close below NZ$1.0697 to

confirm breaks and return overall focus to 2018 lows. Bulls now need a close

above NZ$1.0854 to gain breathing room and return focus to the NZ$1.0906-62

resistance region.

     AUSSIE-YEN TECHS: Below 55-DMA To Target 2018 Low

*RES 4: Y84.89 - High Feb 21 

*RES 3: Y84.53 - High June 7 

*RES 2: Y84.27 - Hourly resistance June 7a 

*RES 1: Y83.75 - Hourly support June 12 now resistance

*PRICE: Y83.58 @ 2130GMT

*SUP 1: Y83.34 - Alternating support/resistance

*SUP 2: Y82.74 - 55-DMA

*SUP 3: Y81.99 - Low May 31

*SUP 4: Y81.04 - Low May 30

*COMMENTARY: The 55-DMA confirmed significance having stalled the correction

lower from last week's high and provided the base for a bounce to start the new

week. Bulls continue to look for a close above Y84.27 to gain breathing room and

return focus to Y84.53-85.59. Bears continue to look for a close below the

55-DMA to end bullish hopes and shift focus back to Y80.51-81.04 although Y81.99

may slow the move.

     EURO-AUSSIE TECHS: Daily Bear Channel Top Capping

*RES 4: A$1.5651 - Low May 19 now resistance

*RES 3: A$1.5618 - High May 23

*RES 2: A$1.5558 - High June 8

*RES 1: A$1.5518 - Daily bear channel top off Apr high

*PRICE: A$1.5504 @ 2130GMT

*SUP 1: A$1.5470 - Hourly support June 12 

*SUP 2: A$1.5439 - Low June 12

*SUP 3: A$1.5391 - High June 6 now support 

*SUP 4: A$1.5348 - Low June 7

*COMMENTARY: Bulls take comfort in the failure to close below the 55-WMA

(A$1.5345) with bulls now needing a close above A$1.5558 to confirm initial

focus on A$1.5618-51 and hint at a move to A$1.5755-69 where 55 & 100-DMAs are

noted. The A$1.5391 support is now key. Bears need a close below this level to

confirm the significance of the channel top off Apr highs, initially focusing on

A$1.5256-74 with overall focus on the channel base (A$1.5117).

     US DOLLAR-INDEX TECHS: Bulls Need Close Above 93.933

*RES 4: 95.025 - 2018 High May 29 

*RES 3: 94.695 - Hourly resistance May 30 

*RES 2: 94.450 - High June 1 

*RES 1: 93.933 - Hourly resistance June 5

*PRICE: 93.824 @ 2130GMT

*SUP 1: 93.673 - Alternating hourly support/resistance

*SUP 2: 93.366 - Low June 11

*SUP 3: 93.213 - Low June 7

*SUP 4: 92.841 - Alternating daily support/resistance

*COMMENTARY: Despite closes below the 21-DMA bears have failed to trouble the

key 92.022-223 support region where 55 & 200-DMAs are noted. Bulls continue to

look for a close above 93.933 to ease renewed bearish pressure and above 94.450

to regain the upper hand and initially focus on 2018 highs. Bears now need a

close below 93.673 to gain breathing room and below 93.213 to add weight to the

case for a test of key DMAs.

     EURO-DOLLAR TECHS: $1.1708 Support Key Today

*RES 4: $1.1994 55-DMA

*RES 3: $1.1889 Alternating daily support/resistance

*RES 2: $1.1854 High May 16

*RES 1: $1.1820 High June 11

*PRICE: $1.1743 @ 2130GMT

*SUP 1: $1.1724 Low June 8 

*SUP 2: $1.1708 Low June 6 

*SUP 3: $1.1616 Low June 1 

*SUP 4: $1.1594 Hourly support May 30

*COMMENTARY: Hesitation ahead of the $1.1854-90 resistance last week is less

than ideal for bulls who need a close above the 55-WMA ($1.1890) to shift

initial focus to $1.1994-1.2053 where the 55 & 200-DMAs are situated. Pressure

has returned to the 21-DMA ($1.1724) with bears needing a close below $1.1708 to

return initial focus to $1.1506-1.1616 where 2018 lows are located. Daily

studies now approaching O/B is a concern for bulls.

     DOLLAR-YEN TECHS: 55-DMA & Y110.72 Levels Now Key

*RES 4: Y111.49 High Jan 18 

*RES 3: Y111.39 High May 21 

*RES 2: Y111.18 High May 22 

*RES 1: Y110.72 Hourly support May 22 now resistance

*PRICE: Y110.37 @ 2130GMT

*SUP 1: Y110.10 Hourly support June 12 

*SUP 2: Y109.84 Hourly resistance June 11 now support 

*SUP 3: Y109.01 Hourly support June 1 

*SUP 4: Y108.81 55-DMA

*COMMENTARY: The rally from dips back to the 100-DMA in May has seen the pair

correct higher and finally close above the 200-DMA (Y110.20). Bulls continue to

look for a close above Y110.72 to confirm traction above the 200-DMA and return

immediate focus to Y111.39-98. The 55-DMA is now key support. Bears look for a

close below to confirm an easing of bullish pressure and below Y107.85 to shift

focus back to 2018 lows.

     EURO-YEN TECHS: Remains Capped On Approach To 55-DMA

*RES 4: Y130.94 Daily bear channel top

*RES 3: Y130.49 55-DMA

*RES 2: Y130.27 High June 7 & 12

*RES 1: Y129.84 Hourly resistance June 12

*PRICE: Y129.60 @ 2130GMT

*SUP 1: Y129.26 Alternating hourly support/resistance 

*SUP 2: Y128.49 Hourly support June 11 

*SUP 3: Y128.09 Low June 8 

*SUP 4: Y127.56 Low June 4

*COMMENTARY: O/B daily studies remain the key concern for bulls as the pair

continues to hesitate ahead of the 55-DMA and layers of resistance

Y130.27-132.59 where key DMAs, WMAs and the daily bear channel top are situated.

Bears now need a close below Y129.26 to gain breathing room and below Y127.10 to

shift focus back to 2018 lows. Overall bulls need a close above Y132.59 to shift

initial focus back to Y134.12-136.00 where the LT TL off 2014 highs is noted.

     SPOT GOLD TECHS: Narrowing Bollinger Bands Hint At Breakout

*RES 4: $1315.4 - 55-DMA 

*RES 3: $1310.5 - Low May 10 now resistance 

*RES 2: $1307.0 - 200-DMA 

*RES 1: $1303.8 - High June 7

*PRICE: $1295.6 @ 2130GMT

*SUP 1: $1287.4 - Low May 22, Bollinger band base 

*SUP 2: $1281.8 - 2018 Low May 21 

*SUP 3: $1276.0 - 100-WMA 

*SUP 4: $1268.9 - High Dec 21

*COMMENTARY: Lacklustre trading continues with gold remaining capped ahead of

the 200-DMA. Narrowing Bollinger bands increase the risk of a break out in

coming days. Bulls need a close above $1310.5 to ease bearish pressure and shift

immediate focus to $1315.4-1326.6 where 55 & 100-DMAs are found. Bears need a

close below the 100-WMA to reconfirm a bearish bias and target $1233.4-1234.3

where the 200-WMA and LT TL off late Dec 2015 lows are noted.

     NYMEX WTI TECHS: (N18) Bulls Need Close Above 55-DMA

*RES 4: $68.67 - High May 30 

*RES 3: $68.17 - Hourly resistance May 31 

*RES 2: $67.46 - 55-DMA 

*RES 1: $66.70 - High June 12

*PRICE: $66.04 @ 2130GMT

*SUP 1: $65.64 - Hourly support June 11 

*SUP 2: $64.88 - 100-DMA 

*SUP 3: $63.87 - High Apr 5 

*SUP 4: $61.73 - Monthly Low Apr 6

*COMMENTARY: Bulls take comfort in the lack of follow through on dips below the

100-DMA with focus having returned to $67.46-68.67 where 21 & 55-DMAs are noted.

Bulls need a close above the 55-DMA to gain breathing room and above $68.67 to

shift focus higher. While the 55-DMA caps bears retain the advantage and need a

close below $63.87 to shift initial focus to $61.73 and overall focus to

$56.93-59.87 where the 200-DMA and Feb lows are noted.

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

[TOPICS: MTABLE]