Dollar rebounded from the low

15 May, 2018

As yesterday's analysis pointed out that the market expected the German and Eurozone GDP data and UK employment data to slow down compared to last month, negative European currency. In addition, the Fed officials said last night that they support the United States to raise interest rates gradually, so that the dollar rebounded from the low.

The important of Europe and United States will be announced today. It is worth noting today that the German and Eurozone GDP performance and UK employment data will be announced in the afternoon, and the United States will announce retail sales data in the evening. If the U.S. retail sales result is lower than market expectations, the Fed’s interest rate hike will cool down and the U.S. dollar may fall again. In addition, the release of the New York Fed manufacturing index and the monthly rate of commercial inventory tonight can be used as an economic indicator. Canadian investors should pay attention to the Canadian announced home sales data announced tonight.


Today's proposal:

EUR/USD:
1.1945/1.1965 resistance
1.1905/1.1885 support
In the afternoon, European data performance expectations fell from the previous month. Before the announcement of the results, the euro was under downward pressure. Pay attention to US retail sales data results at night.

GBP/USD:
1.3580/1.3600 resistance
1.3535/1.3515 support
In the afternoon, European data performance is expected to decline from the previous month. Before the announcement of the results, the sterling pound has the opportunity to follow the decline. In the afternoon, the UK employment data was tested. If the employment situation is not good, the sterling pound will have a chance to further decline.

USD/CHF
0.9980/0.9960 Support
1.0060/1.0080 resistance
As expected yesterday, the euro will dominate the development of the Swiss franc. Afternoon European data anticipation and the publication of the producer and import price index by Switzerland, the market expects a drop, which will degrade the Swiss franc and the US dollar may continue to rise against the Swiss franc.

USD/JPY:
109.85/110.05 Resistance
109.45/109.30 Support
As expected yesterday, it is widely expected that Japan's GDP data on Wednesday will likely slow down, negatively affecting the yen. Together with the rise of the Dow and the Nikkei, the support for the yen's short positions increased. Currently USDJPY has the opportunity to explore 110.

AUD/USD
0.7545/0.7560 resistance
0.7505/0.7485 support
As expected yesterday, the market expects the RBA’s monetary policy to be cautious and bearish on the Australian dollar. The outlook for the short-term US dollar is expected to be better than the Australian dollar, and the Australian dollar has the potential to adjust and decline.

NZD/USD 
0.6935/0.6950 resistance
0.6885/0.6870 support
As expected yesterday, the New Zealand dollar will have the opportunity to continue to follow the decline in the short-term, which may be affected by the rise in the US dollar and the adjustment pressure of the Australian dollar.

USD/CAD
1.2825/1.2845 resistance
1.2760/1.2740 support
The oil price dominates the overall trend of the Canadian dollar. If the price of oil falls, it is estimated that the dollar will rise against the Canadian dollar.

EUR/GBP
0.8820/0.8845 resistance
0.8765/0.8740 support
Recently, the Bank of England’s monetary policy has shifted to the positive pigeons. Today, the UK announces that the employment data market is still under observation. However, I believe that the euro will have a chance to adjust against the sterling in the short term. Currently, we are concerned about the upper resistance pressure or have the opportunity to adjust the decline.

EUR/CHF
1.1945/1.1960 resistance
1.1905/1.1880 support
The ECB’s monetary policy maintains its tightening policy, but it only owes its interest rate hike. It is expected that the euro will perform better than the Swiss franc in the future, and the euro will rise against the Swiss franc. However, in the short-term, due to the expected impact of the euro area data, the euro has adjusted down opportunities against the Swiss franc.

XAUUSD:
1312/1310 Support
1318/1320 resistance
The Dow index and the global stock markets rose together, and gold adjusted downwards last night. However, there is still a need to pay attention to the rise of risk sentiment caused by the US foreign policy of international political development, and the opportunity for gold prices to rise.

US crude oil futures:
71.25/71.45 resistance
70.45/70.25 support
The U.S. imposed sanctions on Iran and the demand for crude oil kept growing, and US oil prices. It is currently estimated that the adjustment of the oil price to around $70 will likely have support. However, we must pay attention to continue falling risk.

BTCUSD:
8450 / 8250 support
8950 / 9050 resistance 
Korea government against crypto currency risk control recently but crypto currency with block chains forums launch today, if any good news from that it will make a demand of bitcoin.
Information provided by Martin Lam, ATFX Chief Analyst of Asia Pacific


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