15 April 2021 Afternoon Session Analysis
Aussie rose following upbeat jobs report.
During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have appreciated following positive employment data for Australia. According to Australian Bureau of Statistics, Australia’s headlines Employment Change rose to 70.7K, surpassed market expectation of 35K. On top of that, unemployment rate also eased to 5.6%, better than market expectation and previous reading of 5.7% and 5.8% respectively. The strong jobs data help boost market optimism and increasing demand for the Aussie. Besides that, broad U.S dollar weakness also becomes one of that main catalyst that provide extra boost for the pair. At the time of writing, AUD/USD rose 0.04% to 0.7714.
In the commodities market, crude oil price surge 0.78% to $63.23 per barrel as of writing following upbeat forecast from IEA. According to report, the International Energy Agency (IEA) predicted that the global oil demand and supply will re-balance in the second half of the year and expect producers to pump 2 million barrels per day to meet expected demand. On the other hand, gold price held steady and edge higher 0.14% to $1738.83 a troy ounce at the time of writing following dollar weakness.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 20:30 | USD – Core Retail Sales (MoM)(Mar) | -2.7% | 5.0% | – |
| 20:30 | USD – Initial Jobless Claims | 744K | 700K | – |
| 20:30 | USD – Philadelphia Fed Manufacturing Index (Apr) | 51.8 | 42.0 | – |
| 20:30 | USD – Retail Sales (MoM)(Mar) | -3.0% | 5.9% | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower following prior breakout below the previous support level at 92.00. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.
Resistance level: 92.00, 92.55
Support level: 91.35, 90.80
GBPUSD, H4: GBPUSD was traded higher while currently testing the resistance level at 1.3800. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 1.3800, 1.3905
Support level: 1.3675, 1.3560
EURUSD, H4: EURUSD was traded higher while currently testing the resistance level at 1.1985. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
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. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 109.20, 109.90
Support level: 108.45, 107.70
AUDUSD, H4: AUDUSD was traded higher following prior breakout above the previous resistance level at 0.7705. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 0.7770, 0.7815
Support level: 0.7705, 0.7665
NZDUSD, Daily: NZDUSD was traded higher following prior breakout above the previous resistance level at 0.7110. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7320.
Resistance level: 0.7320, 0.7555
Support level: 0.7110, 0.6960
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 while currently testing the support level at 0.9225. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.9365, 0.9465
Support level: 0.9225, 0.9060
CrudeOIL, H4: Crude oil price was traded higher while currently near the resistance level at 63.60. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 63.60, 64.80
Support level: 61.85, 59.90
GOLD_, H4: Gold price was traded lower following prior retracement from the resistance level at 1755.40. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1724.00.
Resistance level: 1755.40, 1777.95
Support level: 1724.00, 1702.85