28 April 2020 Afternoon Session Analysis
Aussie remains steady following easing restrictions.
During late Asian session, the Aussie which traded against the greenback and other currency pairs have slightly retreat from its previous rally due, but remain stable in overall due to signs of easing lockdown. According to latest development, states in the Australia are beginning to easing restrictions on movement as infection rate falls. On Monday, Australia recorded just seven new cases of coronavirus on Monday and zero deaths, bringing the total to 6721 confirmed cases and death toll stands at 83. Sydney’s famous Bondi beach re-opened to surfers on Tuesday. The reopening has helped the risk-sensitive currency to stay above. Still, investors will continue to monitor the ongoing situation on the coronavirus to gauge further sentiment for the pair. In the time of writing, AUD/USD retreats 0.12% to 0.6441.
In the commodities market, crude oil price fell 0.23% to $11.05 per barrel as of writing amid limited storage capacity issue. At the moment, investors continue to worries that there is nowhere to store all the oil that is not being consumed due to the drop-in global economic activity amid restrictions imposed around the world to curb the spread of the new coronavirus. On the other hand, gold price also fell 1.00% to $1697.11 a troy ounce at the time of writing following dollar rebound and easing lockdown measures boosted investors risk appetite.
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 |
| 22:00 | USD – CB Consumer Confidence (Apr) | 120.0 | 88.0 | – |
| 04:30
(29th) |
CrudeOIL – API Weekly Crude Oil Stock | 13.226M | – | – |
Technical Analysis
DOLLAR_INDX, H1: Dollar index was traded higher following prior rebound from the support level at 99.85. MACD which illustrated increasing bullish momentum suggest the index to extend its gains toward resistance level at 100.30.
Resistance level: 100.30, 100.75
Support level: 99.85, 99.60
GBPUSD, H1: GBPUSD was traded lower while currently near the support level at 1.2395. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.2460, 1.2505
Support level: 1.2395, 1.2310
EURUSD, H1: EURUSD was traded lower while currently testing the support level at 1.0820. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.0855, 1.0910
Support level: 1.0820, 1.0785
USDJPY, H1: USDJPY was traded within a range while currently near the resistance level at 107.40. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 107.40, 107.75
Support level: 107.05, 106.70
AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.6445. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 0.6445, 0.6615
Support level: 0.6285, 0.6160
NZDUSD, H1: NZDUSD was traded lower while currently testing the support level at 0.5990. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.6030, 0.6070
Support level: 0.5990, 0.5955
USDCAD, H1: USDCAD was traded higher following prior breakout above the previous resistance level at 1.4045. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.4115.
Resistance level: 1.4115, 1.4185
Support level: 1.4045, 1.4000
USDCHF, H4: USDCHF was traded higher while currently near the resistance level at 0.9780. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.9780, 0.9880
Support level: 0.9630, 0.9510
CrudeOIL, H1: Crude oil price was traded lower while currently testing the support level at 10.70. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.
Resistance level: 13.70, 18.05
Support level: 10.70, 6.70
GOLD_, H4: Gold price was traded lower while currently testing the support level at 1695.90. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.
Resistance level: 1737.25, 1770.40
Support level: 1693.90, 1663.25