{"id":166409,"date":"2021-04-07T04:51:45","date_gmt":"2021-04-07T04:51:45","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=166409"},"modified":"2021-04-07T04:51:45","modified_gmt":"2021-04-07T04:51:45","slug":"070421-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/070421-afternoon-session-analysis\/","title":{"rendered":"070421 Afternoon Session Analysis"},"content":{"rendered":"

7 April 2021\u00a0\u00a0\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 rose following risk-on mood.<\/strong><\/span><\/p>\n

During late Asian session, the Australian dollar which traded against the dollar and other currency pairs have rose as market risk appetite improved due to recent RBA meeting. As expected, the RBA has left its interest rate unchanged and three-year government bond yield target at 0.1%. In its statement, RBA also express optimism on economic recovery and stated that the economic recovery is stronger than has been expected. The positive statement has continued to provide a modest boost for the Aussie dollar until now. Besides that, falling dollar which caused by surging treasury yields also keeping the Aussie buyers happy. At the time of writing, AUD\/USD rose 0.09% to 0.7653.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price held steady and jumps 0.51% to $59.52 per barrel as of writing following prospect of fuel demand recovery brighten. IMF stated that global growth of 6% in 2021 could be attainable as it opened its 2021 spring meetings on Apr. 5. Meanwhile, U.S. President Joe Biden moved up the COVID-19 vaccine eligibility target for all American adults to Apr. 19, widening the vaccine rollout and further boosting fuel demand recovery hopes. On the other hand, gold price rose 0.12% to $1738.53 a troy ounce at the time of writing following depreciation of greenback.<\/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

02:00\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FOMC Meeting Minutes<\/p>\n

(8th<\/sup>)<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
16:30<\/td>\nGBP \u2013 Composite PMI (Mar)<\/td>\n56.6<\/td>\n56.6<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI (Mar)<\/td>\n56.8<\/td>\n56.8<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 Ivey PMI (Mar)<\/td>\n60.0<\/td>\n60.5<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-0.876M<\/td>\n-1.325M<\/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 lower following prior breakout below the previous support level at 92.50. 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: 92.50, 92.95<\/p>\n

Support level: 91.95, 91.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.3845. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.3790.<\/p>\n

 <\/p>\n

Resistance level: 1.3845, 1.3885<\/p>\n

Support level: 1.3790, 1.3740<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.1830. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1895.<\/p>\n

 <\/p>\n

Resistance level: 1.1895, 1.1945<\/p>\n

Support level: 1.1830, 1.1780<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 110.00. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 110.00, 110.75<\/p>\n

Support level: 109.20, 108.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7665. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.7665, 0.7710<\/p>\n

Support level: 0.7585, 0.7535<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6955. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7110.<\/p>\n

 <\/p>\n

Resistance level: 0.7110, 0.7250<\/p>\n

Support level: 0.6955, 0.6775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.2515. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.2630.<\/p>\n

 <\/p>\n

Resistance level: 1.2630, 1.2680<\/p>\n

Support level: 1.2515, 1.2460<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9300. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9355, 0.9450<\/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 59.15. 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: 62.05, 63.70<\/p>\n

Support level: 59.15, 57.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1745.60. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 1722.90.<\/p>\n

 <\/p>\n

Resistance level: 1745.60, 1754.95<\/p>\n

Support level: 1722.90, 1710.70<\/p>\n

 <\/p>\n

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

7 April 2021\u00a0\u00a0\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 rose following risk-on mood. During late Asian session, the Australian dollar which traded against the dollar and other currency pairs have rose as market risk appetite improved due to recent RBA meeting. As expected, the RBA has left its interest rate unchanged and three-year government bond yield target […]<\/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\/166409"}],"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=166409"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/166409\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=166409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=166409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=166409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}