{"id":191085,"date":"2021-08-11T05:54:23","date_gmt":"2021-08-11T05:54:23","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=191085"},"modified":"2021-08-11T05:54:23","modified_gmt":"2021-08-11T05:54:23","slug":"110821-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/110821-afternoon-session-analysis\/","title":{"rendered":"110821 Afternoon Session Analysis"},"content":{"rendered":"

11 August 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Aussie slips following coronavirus woes.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the dollar and other currency pairs have fell amid worsening COVID-19 infections in Australia coupled with firmer dollar. On coronavirus front, Australia\u2019s Covid-19 outbreak continue to expands where states such as NSW, Melbourne and Victoria record new cases. Record high infections in New South Wales and Melbourne have prompt policymakers to extend lockdowns for another seven days. Despite Australia has handled the pandemic much better than other developed countries, the fast-spreading Delta variant continue to throw Australia\u2019s plans to reopening economies. Economist expected the lockdown in two largest cities may cause the nation into a second potential recession in many years. On the U.S front, US Senators finally passed a $1.2 trillion stimulus that might get fewer hurdles in the House before reaching President Joe Biden for the sign. The move help propelled demand for greenback which further diminished the appeal for the Aussie. At the time of writing, AUD\/USD fell 0.12% to 0.7339.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rebounds 0.19% to $68.05 per barrel as of writing following brighter demand outlook. According to reports, economist expects that the global consumption will continue its upward trajectory and tighten the market until the end of 2021. On data front, API data showed that U.S crude supply have fell by 816,00 barrels, although it is much slightly lesser than market expectation of a draw about 1.050 million barrels. On the other hand, gold price remains weak and fell 0.03% to $1734.31 a troy ounce at the time of writing amid strengthening dollar.<\/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

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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
20:30<\/td>\nUSD – Core CPI (MoM) (Jul)<\/td>\n0.9%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n3.626M<\/td>\n-3.102M<\/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 while currently testing the resistance level 93.10. However, MACD which illustrate diminishing bullish momentum signal suggest the dollar to experience a technical correction towards the support level 92.65.<\/p>\n

 <\/p>\n

Resistance level: 93.10, 93.45<\/p>\n

Support level: 92.65, 92.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following recent retracement from its high level. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses towards the support level 1.3745.<\/p>\n

 <\/p>\n

Resistance level: 1.3885, 1.3990<\/p>\n

Support level: 1.3745, 1.3600<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level 1.1705. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher as a technical correction in short term towards the resistance level 1.1755.<\/p>\n

 <\/p>\n

Resistance level: 1.1755, 1.1830<\/p>\n

Support level: 1.1705, 1.1625<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following recent breakout above the previous resistance level 110.45. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a short-term technical correction back towards the level 110.45.<\/p>\n

 <\/p>\n

Resistance level: 111.00, 111.65<\/p>\n

Support level: 110.45, 109.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD remain traded in a sideway channel while currently testing near the support level 0.7330. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to be traded higher towards the resistance level 0.7415.<\/p>\n

 <\/p>\n

Resistance level: 0.7415, 0.7485<\/p>\n

Support level: 0.7330, 0.7245<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following recent breakout above the previous resistance level 0.7000. MACD which illustrates bullish bias signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.7075.<\/p>\n

 <\/p>\n

Resistance level: 0.7075, 0.7135<\/p>\n

Support level: 0.7000, 0.6925<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level 1.2535. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 1.2440.<\/p>\n

 <\/p>\n

Resistance level: 1.2535, 1.2600<\/p>\n

Support level: 1.2440, 1.2350<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the resistance level 0.9245. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a technical correction in short term towards the support level 0.9200.<\/p>\n

 <\/p>\n

Resistance level: 0.9245, 0.9310<\/p>\n

Support level: 0.9200, 0.9135<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level 68.35. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower as a technical correction towards the support level 65.65.<\/p>\n

 <\/p>\n

Resistance level: 68.35, 70.90<\/p>\n

Support level: 65.65, 63.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD, H4: <\/strong>Gold price was traded higher following prior rebound from the support level 1725.50. MACD which illustrate bullish bias signal with the formation of golden cross suggest the commodity to extend its rebound towards the resistance level 1760.35.<\/p>\n

 <\/p>\n

Resistance level: 1760.35, 1792.10<\/p>\n

Support level: 1725.50, 1679.60<\/p>\n","protected":false},"excerpt":{"rendered":"

11 August 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Aussie slips following coronavirus woes. The Australian dollar which traded against the dollar and other currency pairs have fell amid worsening COVID-19 infections in Australia coupled with firmer dollar. On coronavirus front, Australia\u2019s Covid-19 outbreak continue to expands where states such as NSW, Melbourne and Victoria record new […]<\/p>\n","protected":false},"author":54,"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\/191085"}],"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\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=191085"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/191085\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=191085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=191085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=191085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}