14 April 2021 Afternoon Session Analysis
Kiwi rose following RBNZ rate decision.
During late Asian session, the New Zealand Kiwi which traded against the dollar and other currency pairs have appreciated following the RBNZ rate decision during earlier today. The RBNZ is leaving its monetary policy unchanged at 0.25% and also large-scale asset purchases program at NZ$100 billion. In its statement, the central bank stated that it will mostly likely leave the current monetary settings in place until inflation and jobs target are achieved. On the other hand, positive news in Australia also provide some extra boost for the pair. According to the Premier of Queensland Annastacia Plaszczuk, the restriction which currently imposed on Queensland would ease starting 15 April. As Australia becomes New Zealand’s biggest trading partner, thus the news also favor Kiwi buyers. At the time of writing, NZD/USD rose 0.48% to $0.7085.
In the commodities market, crude oil price hold steady and edge higher 0.17% to $60.59 per barrel as of writing following OPEC optimism. According to OPEC’s monthly report, OPEC boosted its consumption forecast for 2021 and also predicted that the market recovery will continue in upcoming months. On top of that, the commodity also continue to be supported by falling crude inventories showed by API recently. On the other hand, gold price jumps 0.09% to $1743.76 a troy ounce at the time of writing amid dollar weakness.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
22:00 EUR ECB President Lagarde Speaks
00:00 USD Fed Chair Powell Speaks
(15th)
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 22:30 | CrudeOIL – Crude Oil Inventories | -3.522M | -2.889M | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower following prior breakout below the previous support level at 92.00. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 91.35.
Resistance level: 92.00, 92.55
Support level: 91.35, 90.80
GBPUSD, H4: GBPUSD was traded higher following prior rebound from the support level at 1.3675. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.3800.
Resistance level: 1.3800, 1.3905
Support level: 1.3675, 1.3560
EURUSD, H4: EURUSD was traded higher following prior breakout above the previous resistance level at 1.1920. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1985.
Resistance level: 1.1985, 1.2045
Support level: 1.1920, 1.1860
USDJPY, H4: USDJPY was traded lower following prior breakout below the previous support level at 109.20. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 108.45.
Resistance level: 109.20, 109.90
Support level: 108.45, 107.70
AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.7665. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.7665, 0.7705
Support level: 0.7610, 0.7570
NZDUSD, Daily: NZDUSD was traded higher following rebound from the support level at 0.6960. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7110.
Resistance level: 0.7110, 0.7320
Support level: 0.6960, 0.6760
USDCAD, H4: USDCAD was traded lower while currently near the support level at 1.2515. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.2565, 1.2615
Support level: 1.2515, 1.2475
USDCHF, Daily: USDCHF was traded lower following prior breakout below the previous support level at 0.9225. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.9150.
Resistance level: 0.9225, 0.9365
Support level: 0.9150, 0.9060
CrudeOIL, H4: Crude oil price was traded higher following prior breakout above the previous resistance level at 59.90. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gain toward resistance level at 61.85.
Resistance level: 61.85, 63.60
Support level: 59.90, 57.40
GOLD_, H4: Gold price was traded higher following prior rebound from the support level at 1738.35. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 1754.30.
Resistance level: 1754.30, 1779.55
Support level: 1738.35, 1724.00