{"id":156413,"date":"2021-02-17T05:04:35","date_gmt":"2021-02-17T05:04:35","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=156413"},"modified":"2021-02-17T05:04:35","modified_gmt":"2021-02-17T05:04:35","slug":"170221-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/170221-afternoon-session-analysis\/","title":{"rendered":"170221 Afternoon Session Analysis"},"content":{"rendered":"

17 February 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Aussie slips following comments from RBA Kent<\/strong><\/span><\/p>\n

During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have fell amid comments from RBA Assistant Governor Christopher Kent limit the upside potential. According to his statement, Kent highlights the Australian dollar strength and hints at further measures to tame it for the betterment of the export-driven economy. In doing so, the policymaker also praised the latest extension of the Quantitative Easing (QE). Besides that, tension between U.S and China also continue to weigh on the China-sensitive currency. According to latest development, China is considering to curb exports of rare earth minerals that are crucial to US defence contractors such as Lockheed Martin for the manufacture of sophisticated weaponry and F-35 fighter jets. At the time of writing, AUD\/USD slips 0.05% to 0.7753.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price remains steady and edge higher 0.09% to $60.02 per barrel as of writing amid deepening energy crisis in the U.S which affect the balance of supply and demand. The market continues to assess the impact of cold weather in the U.S where the extreme temperatures have curtailed more than 2 million barrels a day of U.S. oil. On the other hand, gold price plunged 0.15% to $1792.12 at the time of writing following the strength of greenback.<\/p>\n

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

16:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB Monetary Policy Statement<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
15:00<\/td>\nGBP – CPI (YoY) (Jan)<\/td>\n0.6%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Core Retail Sales (MoM) (Jan)<\/td>\n-1.4%<\/td>\n1.0%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 90.45. MACD which illustrated bullish bias momentum suggest the index to extend its gains toward the resistance level at 90.75.<\/p>\n

 <\/p>\n

Resistance level: 90.75, 91.10<\/p>\n

Support level: 90.45, 90.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.3900. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 1.3855.<\/p>\n

 <\/p>\n

Resistance level: 1.3900, 1.3960<\/p>\n

Support level: 1.3855, 1.3750<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level at 1.2105. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 1.2065.<\/p>\n

 <\/p>\n

Resistance level: 1.2105, 1.2145<\/p>\n

Support level: 1.2065, 1.2015<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 106.00. MACD which illustrated bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 106.30.<\/p>\n

 <\/p>\n

Resistance level: 106.30, 106.60<\/p>\n

Support level: 106.00, 105.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.7740. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level at 0.7740.<\/p>\n

 <\/p>\n

Resistance level: 0.7785, 0.7815<\/p>\n

Support level: 0.7740, 0.7670<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout above the previous support level at 0.7240. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 0.7165.<\/p>\n

 <\/p>\n

Resistance level: 0.7240, 0.7300<\/p>\n

Support level: 0.7165, 0.7105<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level at 1.2690. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 1.2740.<\/p>\n

 <\/p>\n

Resistance level: 1.2740, 1.2770<\/p>\n

Support level: 1.2690, 1.2650<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.8920. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.8985.<\/p>\n

 <\/p>\n

Resistance level: 0.8985, 0.9040<\/p>\n

Support level: 0.8920, 0.8850<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 60.15. However, MACD which illustrated bearish bias momentum suggest the commodity to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 60.15, 61.05<\/p>\n

Support level: 59.45, 58.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1786.10. MACD which illustrated bearish bias momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1810.70, 1826.95<\/p>\n

Support level: 1786.10, 1770.80<\/p>\n","protected":false},"excerpt":{"rendered":"

17 February 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Aussie slips following comments from RBA Kent During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have fell amid comments from RBA Assistant Governor Christopher Kent limit the upside potential. According to his statement, Kent highlights the Australian dollar strength and […]<\/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\/156413"}],"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=156413"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/156413\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=156413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=156413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=156413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}