{"id":114346,"date":"2020-04-21T05:05:19","date_gmt":"2020-04-21T05:05:19","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=114346"},"modified":"2020-04-21T05:05:19","modified_gmt":"2020-04-21T05:05:19","slug":"210420-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/210420-afternoon-session-analysis\/","title":{"rendered":"210420 Afternoon Session Analysis"},"content":{"rendered":"

21 April 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Aussie slips following RBA minutes.<\/strong><\/span><\/p>\n

The Australian dollar which measured its value against the greenback and other currency pairs have fell during late Asian session following the recent release of meeting minutes from RBA. According to the minutes, the board have stated that it will remain committed to supporting jobs, incomes, and business and to do whatever it takes to achieve the three-year bond yield target. The minutes were somewhat less dovish with RBA didn\u2019t plan to boost purchases on bonds, however policymakers have expressed their thought of smaller and less frequent purchases of government bonds would be required in the future. Besides that, the weakening risk sentiment also caused the pair to experience further pressure due to lack of demand from global economy. At the time of writing, AUD\/USD fell 0.52% to 0.6301.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price fell 0.31% to $21.33 per barrel as of writing following as fear of weak demand amid coronavirus pandemic continue to dominate the market. According to analyst poll by Reuters, U.S. crude inventories were expected to rise by about 16.1 million barrels in the week to April 17. Main U.S storage hub in Cushing, Oklahoma is also expected to be full within a matter of weeks. On the other hand, gold price slips 0.42% to $1688.97 a troy ounce at the time of writing amid strengthening dollar.<\/p>\n

 <\/p>\n

Today\u2019s Holiday Market Close<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Events<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nGBP \u2013 Average Earnings Index + Bonus (Feb)<\/td>\n3.1%<\/td>\n3.0%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP \u2013 Claimant Count Change 3M\/3M (MoM)(Feb)<\/td>\n184K<\/td>\n100K<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 German ZEW Economic Sentiment (Apr)<\/td>\n-49.5<\/td>\n-42.3<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Core Retail Sales (MoM)(Feb)<\/td>\n-0.1%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Existing Home Sales (Mar)<\/td>\n5.77M<\/td>\n5.30M<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/p>\n

(22th<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n13.143M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 99.75. MACD which illustrated diminishing bearish momentum suggest the index to extend its gains toward resistance level at 100.90.<\/p>\n

 <\/p>\n

Resistance level: 100.90, 101.65<\/p>\n

Support level: 99.75, 98.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.2385. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2620, 1.2765<\/p>\n

Support level: 1.2385, 1.2230<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level at 1.0825. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.0975, 1.1125<\/p>\n

Support level: 1.0825, 1.0660<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1<\/strong>: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 107.70. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 107.35.<\/p>\n

 <\/p>\n

Resistance level: 107.70, 108.05<\/p>\n

Support level: 107.35, 107.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.6460. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.6220.<\/p>\n

 <\/p>\n

Resistance level: 0.6460, 0.6640<\/p>\n

Support level: 0.6220, 0.5985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.6075. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.5955.<\/p>\n

 <\/p>\n

Resistance level: 0.6075, 0.6215<\/p>\n

Support level: 0.5955, 0.5840<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently near the resistance level at 1.4180. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.4180, 1.4390<\/p>\n

Support level: 1.4070, 1.3970<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently near the resistance level at 0.9715. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.9715, 0.9775<\/p>\n

Support level: 0.9595, 0.9510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was lower following prior retracement from the resistance level at 21.90. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 21.90, 23.45<\/p>\n

Support level: 20.30, 17.85<\/p>\n

 <\/p>\n

\"\"
\nGOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1701.20. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1701.20, 1737.25<\/p>\n

Support level: 1670.95, 1634.75<\/p>\n

\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

21 April 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Aussie slips following RBA minutes. The Australian dollar which measured its value against the greenback and other currency pairs have fell during late Asian session following the recent release of meeting minutes from RBA. According to the minutes, the board have stated that it will remain committed to supporting […]<\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[13],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/114346"}],"collection":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=114346"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/114346\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=114346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=114346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=114346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}