28 April 2021 Afternoon Session Analysis
Aussie plummeted amid disappointed CPI data.
Australian dollar which broadly known as Aussie failed to revive from its downtrend trend while trading lower as of writing amid the release of downbeat economic data. Earlier today, Australian Bureau of Statistic has announced its CPI data for the first quarter in year 2021 at an unexpected low level at 0.6%, missing the economist forecast at 0.9%. In details, the positive contribution was came from the rises in automotive fuel, pharmaceutical products, medicals and hospital services. Despite the CPI data still indicating some positive consumer view toward the change in the price of goods and services, yet the data’s result still below the expectation and triggered a wave of sell-off in Aussie market. On the other hand, the spike in US 10 year treasury yield has also boosted up the demand in dollar index, which eventually further dragged down the value of AUD/USD. During Asian trading session, the pair of AUD/USD dropped 0.29% to 0.7740.
In the commodities market, crude oil price fall by 0.21% to $62.90 as of writing after OPEC and its allies decided to stick to its oil production cut plans. In the OPEC+ ministerial meeting, all members agreed to maintain their cut plans while looking forward to have another round of output’s review on 1st of June. Besides, the gold prices dropped 0.30% to $1771.40 per troy ounce amid the strengthening of dollar index.
Today’s Holiday Market Close
Time Market Event
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Today’s Highlight Events
Time Market Event
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Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 20:30 | CAD – Core Retail Sales (MoM) (Feb) | -1.2% | 3.7% | – |
| 22:30 | CrudeOIL – Crude Oil Inventories | 0.594M | – | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher while currently testing the resistance level at 90.95. MACD which illustrated bullish bias momentum suggest the index to extend its gains after it successfully breakout above the resistance level.
Resistance level: 90.95, 91.25
Support level: 90.70, 90.45
GBPUSD, H4: GBPUSD was traded lower while currently testing the support level at 1.3865. MACD which illustrated bearish signal suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.3910, 1.3945
Support level: 1.3865, 1.3815
EURUSD, H4: EURUSD was traded lower while currently testing the support level at 1.2065. MACD which illustrated bearish bias momentum signal suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.2100, 1.2135
Support level: 1.2065, 1.2030
USDJPY, Daily: USDJPY was traded higher following prior breakout above the previous resistance level at 108.30. MACD which illustrated diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 109.20.
Resistance level: 109.20, 110.05
Support level: 108.30, 107.65
AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level at 0.7760. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 0.7715.
Resistance level: 0.7760, 0.7815
Support level: 0.7715, 0.7665
NZDUSD, H4: NZDUSD was traded lower following prior retracement from the resistance level at 0.7235. MACD which illustrated bearish bias momentum signal suggests the pair to extend its losses toward the support level at 0.7170.
Resistance level: 0.7235, 0.7300
Support level: 0.7170, 0.7110
USDCAD, Daily: USDCAD was traded lower while currently testing the support level at 1.2390. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level at 1.2390.
Resistance level: 1.2510, 1.2635
Support level: 1.2390, 1.2255
USDCHF, Daily: USDCHF was traded higher following prior rebound from the lower level. MACD which illustrated diminishing bearish momentum suggests the pair to extend its gains toward the resistance level at 0.9185.
Resistance level: 0.9185, 0.9220
Support level: 0.9110, 0.9030
CrudeOIL, H4: Crude oil price was traded higher following prior breakout above the previous resistance level at 62.55. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 63.75.
Resistance level: 63.75, 65.45
Support level: 62.55, 61.35
GOLD_, H4: Gold price was traded lower while currently testing the support level at 1768.20. MACD which illustrated bearish bias momentum signal suggest the commodity to extend its losses after it successfully breakout below the support level.
Resistance level: 1788.50, 1803.40
Support level: 1768.20, 1755.60