{"id":168454,"date":"2021-04-16T03:20:01","date_gmt":"2021-04-16T03:20:01","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=168454"},"modified":"2021-04-16T03:20:01","modified_gmt":"2021-04-16T03:20:01","slug":"160421-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/160421-afternoon-session-analysis\/","title":{"rendered":"160421 Afternoon Session Analysis"},"content":{"rendered":"

16 April 2021\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 retreats following mixed China data.<\/strong><\/span><\/p>\n

During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have retreat from its high after mixed results on data from China. According to National Bureau of Statistics of China, China\u2019s Retail Sales have improved to 34.2%, higher than market expectation of 28%. However, China\u2019s GDP fell 18.3%, worse than market expectation of 18.9%. On top of that, industrial production also decline 14.1%, missing market expectation of 17.2%. As China becomes the biggest trading partner of Australia, the overall downbeat data also challenge the Aussie sentiment. Aside from that, tension between U.S and China also weigh on the sentiment. According to reports, U.S President Joe Biden is seeking closer ties with Japan and prepared to challenge China\u2019s growing influence. At the time of writing, AUD\/USD slips 0.27% to 0.7727.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price remains strong and edge higher 0.06% to $63.37 per barrel as of writing following as optimism towards demand growth continue to support the market. Global oil demand outlook continue to brighten as the largest oil consumer nations such as U.S. and China continue to make progress in their recoveries. Besides that, investors are also looking to the start of the U.S. driving season, which runs from June through August, for a pickup in traffic numbers. On the other hand, gold price fell 0.15% to $1761.47 a troy ounce at the time of writing following a slight rebound in 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

N\/A<\/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
17:00<\/td>\nEUR \u2013 CPI (YoY)(Mar)<\/td>\n0.9%<\/td>\n1.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Building Permits (Mar)<\/td>\n1.720M<\/td>\n1.750M<\/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 following prior rebound from the support level at 91.35. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 92.00.<\/p>\n

 <\/p>\n

Resistance level: 92.00, 92.55<\/p>\n

Support level: 91.35, 90.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.3800. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.3675.<\/p>\n

 <\/p>\n

Resistance level: 1.3800, 1.3905<\/p>\n

Support level: 1.3675, 1.3560<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1985. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.1920.<\/p>\n

 <\/p>\n

Resistance level: 1.1985, 1.2045<\/p>\n

Support level: 1.1920, 1.1860<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 108.45. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 109.20.<\/p>\n

 <\/p>\n

Resistance level: 109.20, 109.90<\/p>\n

Support level: 108.45, 107.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.7770. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.7705.<\/p>\n

 <\/p>\n

Resistance level: 0.7770, 0.7815<\/p>\n

Support level: 0.7705, 0.7665<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.7110. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7320.<\/p>\n

 <\/p>\n

Resistance level: 0.7320, 0.7435<\/p>\n

Support level: 0.7110, 0.6960<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.2565. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2565, 1.2615<\/p>\n

Support level: 1.2515, 1.2475<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9225. 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: 0.9365, 0.9465<\/p>\n

Support level: 0.9225, 0.9060<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently near the resistance level at 63.60. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 63.60, 64.80<\/p>\n

Support level: 61.85, 59.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1767.55. 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: 1767.55, 1813.55<\/p>\n

Support level: 1728.25, 1684.45<\/p>\n

 <\/p>\n

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

16 April 2021\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 retreats following mixed China data. During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have retreat from its high after mixed results on data from China. According to National Bureau of Statistics of China, China\u2019s Retail Sales have improved to 34.2%, […]<\/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\/168454"}],"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=168454"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/168454\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=168454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=168454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=168454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}