25 March 2021 Afternoon Session Analysis
Euro fell following weak recovery outlook.
During late Asian session, the Euro which traded against the greenback and other currency pairs remains pressured and fell following ongoing concerns of third wave coronavirus and lack of supply in vaccine. EU continue to struggle in containing the virus as several countries in EU witness a fresh spike in new cases. In Germany, Angela Merkel have reversed its decision to impose strict lockdown on Easter holiday period following criticism. However, the decision did not build any confidence in market and instead causing discontent towards Chancellor Angela Merkel’s handling of the pandemic. On the hand, slow vaccination progress in EU also continue to cloud recovery outlook. Compared to other countries such as US which already have quarter of its residents vaccinated, only about 10% of Europeans do so. At the time of writing, EUR/USD slips 0.05% to 1.1820.
In the commodities market, crude oil price fell 1.15% to $60.12 per barrel as of writing amid concerns over rising coronavirus cases and demand. Despite with news of closed Suez Canal which may help reduce supply, worries of tighter restrictions and vaccine delay stalling growth for fuel demand continue weighing heavily on the commodity and outweigh the positive news. On the other hand, gold price rose 0.17% to $1737.42 a troy ounce at the time of writing following dollar retreat.
Pasaran Tutup Hari Ini
Masa Pasaran Acara
N/A
Acara Kemuncak Hari Ini
Masa Pasaran Acara
16:30 CHF SNB Monetary Policy Assessment
17:30 GBP BoE Gov Bailey Speaks
17:30 EUR ECB President Lagarde Speaks
Data Ekonomi Kemuncak Hari Ini
| Masa | Pasaran & Data | Terdahulu | Ramalan | Sebenar |
| 16:30 | CHF – SNB Interest Rate Decision | -0.75% | – | – |
| 20:30 | USD – GDP (QoQ)(Q4) | 33.4% | 4.1% | – |
| 20:30 | USD – Initial Jobless Claims | 770K | 730K | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher while currently testing the resistance level at 92.55. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.
Resistance level: 92.55, 93.35
Support level: 91.90, 91.30
GBPUSD, H4: GBPUSD was traded lower while currently testing the support level at 1.3680. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.3815, 1.3990
Support level: 1.3680, 1.3570
EURUSD, Daily: EURUSD was traded lower following prior breakout below the previous support level at 1.1850. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.1725.
Resistance level: 1.1850, 1.1975
Support level: 1.1725, 1.1615
USDJPY, H4: USDJPY was traded higher following prior rebound from the support level at 108.30. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 109.20.
Resistance level: 109.20, 110.35
Support level: 108.30, 107.55
AUDUSD, H4: AUDUSD was traded lower while currently testing the support level at 0.7590. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.7650, 0.7710
Support level: 0.7590, 0.7505
NZDUSD, Daily: NZDUSD was traded lower following prior breakout below the previous support level at 0.7005. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.6900.
Resistance level: 0.7005, 0.7105
Support level: 0.6900, 0.6765
USDCAD, Daily: USDCAD was traded higher while currently testing the resistance level at 1.2600. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1.2600, 1.2745
Support level: 1.2400, 1.2255
USDCHF, H4: USDCHF was traded higher while currently testing the resistance level at 0.9370. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 0.9370, 0.9425
Support level: 0.9300, 0.9225
CrudeOIL, H4: Crude oil price was traded lower following prior retracement from the resistance level at 61.15. However, MACD which illustrated increasing bullish momentum suggest the commodity to be traded higher in short-term as technical correction.
Resistance level: 61.15, 62.75
Support level: 59.30, 57.45
GOLD_, H4: Gold price was traded higher while currently testing the resistance level 1739.85. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1739.85, 1767.60
Support level: 1702.60, 1676.90