{"id":163666,"date":"2021-03-24T05:09:27","date_gmt":"2021-03-24T05:09:27","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=163666"},"modified":"2021-03-24T05:09:27","modified_gmt":"2021-03-24T05:09:27","slug":"240321-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/240321-afternoon-session-analysis\/","title":{"rendered":"240321 Afternoon Session Analysis"},"content":{"rendered":"

24 March 2021\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 as risk appetite dwindles.<\/strong><\/span><\/p>\n

During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have fell as various action in global markets have threatened global economic recovery and dented market appetite for riskier assets. Concerns over tension between China and other western countries such as EU, UK and US continue to grew as the U.S and its allies recently imposed sanctions on Chinese officials with accusations of human rights abuses. Besides that, latest Bloomberg report stated that Beijing has falling short of meeting in U.S purchases target as agreed in phase one trade deal which may worsen the relationship between the two countries and adding further pressure for the pair. News of third wave coronavirus in Europe and concerns over vaccine side effect which major economies to halt their vaccination campaign also weigh heavily on the risk sentiment and remove further shine in risker assets. At the time of writing, AUD\/USD fell 0.20% to 0.7607.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price remains weak and fell 0.11% to $57.80 per barrel at the time of writing amid rising concerns over demand. Investors continue to digest the news of third wave coronavirus cases in EU which have triggered new restrictive measures in several countries. The third largest oil importer, India also witness an increase in cases which further clouded the demand outlook. On the other hand, gold price edge lower 0.12% to $1732.06 a troy ounce at the time of writing following dollar strength.<\/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

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Fed Chair Powell Testifies<\/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
15:00<\/td>\nGBP \u2013 CPI (YoY)(Feb)<\/td>\n0.7%<\/td>\n0.8%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nEUR \u2013 German Manufacturing PMI (Mar)<\/td>\n60.7<\/td>\n60.8<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Composite PMI (Mar)<\/td>\n49.6<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Manufacturing PMI (Mar)<\/td>\n54.9<\/td>\n54.9<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Services PMI (Mar)<\/td>\n49.5<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM)(Feb)<\/td>\n1.3%<\/td>\n0.6%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n2.396M<\/td>\n-0.272M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing the resistance level at 92.40. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 92.40, 93.35<\/p>\n

Support level: 91.30, 90.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.3815. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.3680.<\/p>\n

 <\/p>\n

Resistance level: 1.3815, 1.3990<\/p>\n

Support level: 1.3680, 1.3570<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1835. 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: 1.1880, 1.1935<\/p>\n

Support level: 1.1835, 1.1775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level at 108.30. 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: 109.20, 110.35<\/p>\n

Support level: 108.30, 106.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.7590. 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: 0.7650, 0.7710<\/p>\n

Support level: 0.7590, 0.7505<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.7005. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.6900.<\/p>\n

 <\/p>\n

Resistance level: 0.7005, 0.7105<\/p>\n

Support level: 0.6900, 0.6765<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.2600. 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: 1.2600, 1.2745<\/p>\n

Support level: 1.2400, 1.2255<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9300. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.9370.<\/p>\n

 <\/p>\n

Resistance level: 0.9370, 0.9425<\/p>\n

Support level: 0.9300, 0.9225<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 57.45. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 59.30, 61.65<\/p>\n

Support level: 57.45, 53.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded within a range while currently testing the resistance level at 1739.85. MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1739.85, 1759.75<\/p>\n

Support level: 1712.60, 1693.80<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

24 March 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Aussie slips as risk appetite dwindles. During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have fell as various action in global markets have threatened global economic recovery and dented market appetite for riskier assets. Concerns over tension between China and other […]<\/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\/163666"}],"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=163666"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/163666\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=163666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=163666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=163666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}