Financial support plan for Portugal has been approved.
Asian and European trading sessions:
Australian Dollar: The released results of the RBA meeting confirmed that at some point the Reserve Bank of Australia would need to continue increasing principal rates in Australia in order to slow down the inflation rate growth.
Euro: Euro was supported on Tuesday and one of the influencing factors was the agreement that has been reached during the meeting of the Euro-zone Financial Ministers in Brussels yesterday – financial support plan for Portugal has been approved.
At the same time the Euro-zone ZEW survey (economic sentiment) for May dropped to 13.6 against the forecasted decrease to 17.3. Therefore. the euro was pressured.
British Pound: Sterling received temporary support from the publication of the UK fundamental release today. The Consumer price index for April grew to 4.5% against the expected 4.1%. As a result, the GBP/USD pair reached the $1.6300 maximums. Expectations for the principal rates increase by the Bank of England grew.
Japanese Yen: Japanese yen was under pressure after the statement of the Bank of Japan managing director, Masaaki Shirakawa, who mentioned that “Japanese economy was in a very serious condition”.
The USD/JPY pair traded at the Y81.70 level.
Oil: Oil traded around the $97.18 level per barrel after the reached minimums at the $95.02 mark per barrel.
American trading session:
US Dollar: Investors were discouraged by the release of the negative US fundamentals on Tuesday during the American trading session. The US housing starts for April decreased to 523K against the forecasted 569K. Building permits level dropped as well.
https://forex-metal.com/news_posts
Technical analysis for 18/05
EURUSD
The pair has been able to rise to 1.42996. If this level is broken the pair will rise to 1.44400.
Resistance: 1.42996, 1.44400, 1.46222
Support: 1.41780, 1.40690, 1.39600
GBPUSD
The pair stays above 1.62050 and it may bring pair to test 1.63316.
Resistance: 1.63316, 1.64636, 1.65706
Support: 1.62050, 1.60322, 1.58543
USDCHF
The pair has reached 0.88418, if the pair stays below this level the pair will decline to 0.87214.
Resistance: 0.88418, 0.89635, 0.91079
Support: 0.87214, 0.85939, 0.84685
USDJPY
If 80.438 is broken the pair will decline to 79.707. If 81.399 is broken the pair will rise to 82.219.
Resistance: 81.399, 82.219, 83.065
Support: 80.438, 79.707, 78.345
AUDUSD
The pair couldn’t break 1.05332 and trying to reach 1.07005.
Resistance: 1.07005, 1.07739, 1.08413
Support: 1.06164, 1.05332, 1.04407
https://forex-metal.com/news_posts
Asian and European trading sessions:
Australian Dollar: The released results of the RBA meeting confirmed that at some point the Reserve Bank of Australia would need to continue increasing principal rates in Australia in order to slow down the inflation rate growth.
Euro: Euro was supported on Tuesday and one of the influencing factors was the agreement that has been reached during the meeting of the Euro-zone Financial Ministers in Brussels yesterday – financial support plan for Portugal has been approved.
At the same time the Euro-zone ZEW survey (economic sentiment) for May dropped to 13.6 against the forecasted decrease to 17.3. Therefore. the euro was pressured.
British Pound: Sterling received temporary support from the publication of the UK fundamental release today. The Consumer price index for April grew to 4.5% against the expected 4.1%. As a result, the GBP/USD pair reached the $1.6300 maximums. Expectations for the principal rates increase by the Bank of England grew.
Japanese Yen: Japanese yen was under pressure after the statement of the Bank of Japan managing director, Masaaki Shirakawa, who mentioned that “Japanese economy was in a very serious condition”.
The USD/JPY pair traded at the Y81.70 level.
Oil: Oil traded around the $97.18 level per barrel after the reached minimums at the $95.02 mark per barrel.
American trading session:
US Dollar: Investors were discouraged by the release of the negative US fundamentals on Tuesday during the American trading session. The US housing starts for April decreased to 523K against the forecasted 569K. Building permits level dropped as well.
https://forex-metal.com/news_posts
Technical analysis for 18/05
EURUSD
The pair has been able to rise to 1.42996. If this level is broken the pair will rise to 1.44400.
Resistance: 1.42996, 1.44400, 1.46222
Support: 1.41780, 1.40690, 1.39600
GBPUSD
The pair stays above 1.62050 and it may bring pair to test 1.63316.
Resistance: 1.63316, 1.64636, 1.65706
Support: 1.62050, 1.60322, 1.58543
USDCHF
The pair has reached 0.88418, if the pair stays below this level the pair will decline to 0.87214.
Resistance: 0.88418, 0.89635, 0.91079
Support: 0.87214, 0.85939, 0.84685
USDJPY
If 80.438 is broken the pair will decline to 79.707. If 81.399 is broken the pair will rise to 82.219.
Resistance: 81.399, 82.219, 83.065
Support: 80.438, 79.707, 78.345
AUDUSD
The pair couldn’t break 1.05332 and trying to reach 1.07005.
Resistance: 1.07005, 1.07739, 1.08413
Support: 1.06164, 1.05332, 1.04407
https://forex-metal.com/news_posts