2 April 2021 Afternoon Session Analysis
Aussie stays firm following risk-on mood.
During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have rose as dollar weakness coupled with positive news adding on the sentiment. Despite with Good Friday holiday, movement in U.S dollar continue to play its role in favoring kiwi buyers as U.S treasury yield fell close to 1.67% and affect the greenback at the same time. At the same time, the sentiment was also boosted by news of Australian government ending Brisbane lockdown early while continue to be strict on mask ahead of Easter Holiday. Moreover, adding further to the risk positive was news of Pfizer vaccine is 100$ effective on adolescents. At the time of writing, AUD/USD rose 0.18% to 0.7628.
In the commodities market, crude oil price rose 0.03% to $61.25 per barrel at the time of writing following increasing demand for travel. According to global flight tracking service Flightradar24, it tracked a total of 77,708 flights, a number which exceeded the previous peak during the Christmas holidays since COVID started spreading. Increasing numbers of travelers would continue to help boosted demand for fuel, thus increasing its price. On the other hand, gold price increased 0.01% to $1729.63 after dollar retreated from its high.
Today’s Holiday Market Close
Time Market Event
All Day USD Good Friday
All Day GBP Good Friday
All Day EUR Good Friday
All Day AUD Good Friday
All Day CAD Good Friday
All Day NZD Good Friday
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 20:30 | USD – Nonfarm Payrolls (Mar) | 379K | 647K | – |
| 20:30 | USD – Unemployment Rate (Mar) | 6.2% | 6.0% | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower while currently testing the support level at 92.60. MACD which illustrated increasing bearish momentum suggest the index to extend its losses after it successfully breakout below the support level.
Resistance level: 93.40, 94.10
Support level: 92.60, 91.35
GBPUSD, H1: GBPUSD was traded higher while currently testing the resistance level at 1.3850. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 1.3845, 1.3895
Support level: 1.3790, 1.3735
EURUSD, H4: EURUSD was traded higher while currently testing the resistance level at 1.1780. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 1.1780, 1.1830
Support level: 1.1710, 1.1640
USDJPY, H1: USDJPY was traded lower while currently testing the support level at 110.55. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 111.25, 112.10
Support level: 110.55, 110.00
AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.7650. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.7650, 0.7710
Support level: 0.7585, 0.7535
NZDUSD, Daily: NZDUSD was traded higher following prior rebound from the support level at 0.6955. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.7110.
Resistance level: 0.7110, 0.7250
Support level: 0.6955, 0.6775
USDCAD, H4: USDCAD was traded lower following prior retracement from the resistance level at 1.2630. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2400.
Resistance level: 1.2630, 1.2745
Support level: 1.2400, 1.2255
USDCHF, H1: USDCHF was traded lower following prior retracement from the resistance level at 0.9450. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.9450, 0.9525
Support level: 0.9370, 0.9300
CrudeOIL, H1: Crude oil price was traded higher while currently testing the resistance level at 61.35. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 61.35, 62.65
Support level: 59.55, 57.90
GOLD_, H4: Gold price was traded higher following prior breakout above the previous resistance level at 1723.90. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 1741.00.
Resistance level: 1741.00, 1753.85
Support level: 1723.90, 1702.15