{"id":136918,"date":"2020-08-21T05:55:52","date_gmt":"2020-08-21T05:55:52","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=136918"},"modified":"2020-08-21T05:55:52","modified_gmt":"2020-08-21T05:55:52","slug":"210820-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/210820-afternoon-session-analysis\/","title":{"rendered":"210820 Afternoon Session Analysis"},"content":{"rendered":"

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

Aussie surged amid upbeat economic data.<\/strong><\/span><\/p>\n

The Australian Dollar surged over the backdrop of the upbeats data from the Australian region. According to Australian Bureau of Statistics (ABS), the Australian Retail Sales for July had notched up significantly from the previous reading of 3.3% to 2.7%. Such better-than-expected economic data had dialled up the market optimism toward the economic progression from the Australia region, which spurring significant demand on the Australian dollar. On the coronavirus front, the new coronavirus infections from the Victoria state had dropped to 179, the lowest in five weeks on Thursday. Besides that, the People\u2019s Bank of China has injected a net 160 billion yuan into the financial system in order to boost up the liquidity and solvency ratio by 490-billion-yuan last week. Hence, the sentiment had also sparkled positive prospect for the China\u2019s economy in the future, while increasing the market demand for the China-proxy currencies Australian dollar. Nonetheless, at this time investors would scrutinize the latest updates with regards of the trade negotiation between US and China as well as the coronavirus development in order to gauge the likelihood movement for the currency. As of writing, the AUD\/USD appreciated by 0.15% to 0.7200.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price surged 0.48% to $42.87 per barrel as of writing. The crude oil price extends its gains for a third straight week, buoyed by major oil producers\u2019 effort to reduce the output amid concerns about the economic recovery from the coronavirus pandemic. On the other hand, the gold price appreciated by 0.08% to $1948.40 per troy ounces amid risk-off sentiment in the FX market following the United Stated published negative economic data on yesterday.<\/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\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 Retail Sales (MoM)(Jul)<\/td>\n13.9%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
15:30<\/td>\nEUR \u2013 German Manufacturing PMI (Aug)<\/td>\n51.0<\/td>\n52.5<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Composite PMI<\/td>\n57.0<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing PMI<\/td>\n53.3<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI<\/td>\n56.5<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Core Retail Sales (MoM)(Jun)<\/td>\n10.6%<\/td>\n15.0%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Existing Home Sales (Jul)<\/td>\n4.72M<\/td>\n5.38M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded lower while currently testing the support level at 92.55. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 93.25, 93.80<\/p>\n

Support level: 92.55, 92.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3250. 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: 1.3250, 1.3340<\/p>\n

Support level: 1.3175, 1.3105<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently near the resistance level at 1.1900. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.1900, 1.2040<\/p>\n

Support level: 1.1790, 1.1710<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 106.40. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 105.30.<\/p>\n

 <\/p>\n

Resistance level: 106.40, 107.35<\/p>\n

Support level: 105.30, 104.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7130. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.7240.<\/p>\n

 <\/p>\n

Resistance level: 0.7240, 0.7330<\/p>\n

Support level: 0.7130, 0.7015<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6520. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.6575.<\/p>\n

 <\/p>\n

Resistance level: 0.6575, 0.6625<\/p>\n

Support level: 0.6520, 0.6465<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3235. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.3140.<\/p>\n

 <\/p>\n

Resistance level: 1.3235, 1.3315<\/p>\n

Support level: 1.3140, 1.3010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9195. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9030.<\/p>\n

 <\/p>\n

Resistance level: 0.9195, 0.9330<\/p>\n

Support level: 0.9030, 0.8860<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 43.05. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 43.05, 43.90<\/p>\n

Support level: 41.70, 40.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1959.45. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1959.45, 1989.15<\/p>\n

Support level: 1927.60, 1906.85<\/p>\n","protected":false},"excerpt":{"rendered":"

21 August 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Aussie surged amid upbeat economic data. The Australian Dollar surged over the backdrop of the upbeats data from the Australian region. According to Australian Bureau of Statistics (ABS), the Australian Retail Sales for July had notched up significantly from the previous reading of 3.3% to 2.7%. Such better-than-expected economic […]<\/p>\n","protected":false},"author":25,"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\/136918"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=136918"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/136918\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=136918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=136918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=136918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}