{"id":191925,"date":"2021-08-16T05:28:46","date_gmt":"2021-08-16T05:28:46","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=191925"},"modified":"2021-08-16T05:35:20","modified_gmt":"2021-08-16T05:35:20","slug":"120821-afternoon-session-analysis-2","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/120821-afternoon-session-analysis-2\/","title":{"rendered":"160821 Afternoon Session Analysis"},"content":{"rendered":"

16 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 fell following softer China data.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the dollar and other currency pairs remain pressured and fell after recent released of inflation data from China. According to National Bureau of Statistics of China, China\u2019s Retail Sales have deteriorated to 8.5%, weaker than market expectation of 11.5% and previous reading of 12.1%. On top of that, China\u2019s Industrial Production also weakened to 6.4, lower than market expectation and previous reading of 7.8 and 8.3% respectively. In addition, worsening Covid-19 condition in Australia also further pressured the pair. Australia\u2019s state New South Wales have recorded all time high infections which pushing the nation to the fresh top with 500 figures. The leader of New South Wales, Gladys Berejiklian has warned that this is the worst situation that Australia\u2019s has been in since the start of the Covid-19 and mention that the rules will be tightened. At the time of writing, AUD\/USD fell 0.32% to 0.7345.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price fell 0.60% to $67.69 per barrel as of writing amid worries over fuel demand outlook. Due to rising Delta cases, some government has imposed restriction on mobility have raised concerns about fuel demand recovery. On top of that, data from China showed that recent tightening of coronavirus restrictions prompted declines in activity in the world’s second-biggest economy in July, which also weigh on oil prices. On the other hand, gold price rose 0.15% to $1777.40 a troy ounce at the time of writing following dollar weakness.<\/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\/A<\/p>\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 92.65. MACD which illustrate persistent bearish momentum signal suggest the dollar to extend its losses towards the support level 92.15.<\/p>\n

 <\/p>\n

Resistance level: 92.65, 93.10<\/p>\n

Support level: 92.15, 91.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing near the resistance level 1.3885. MACD which illustrate bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.<\/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 higher following recent breakout above the previous resistance level 1.1765. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a technical correction back towards the level 1.1765.<\/p>\n

 <\/p>\n

Resistance level: 1.1830, 1.1880<\/p>\n

Support level: 1.1765, 1.1705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following breakout below the previous support level 109.70. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 109.20.<\/p>\n

 <\/p>\n

Resistance level: 109.70, 110.50<\/p>\n

Support level: 109.20, 108.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD remain traded in a sideway channel while currently testing the support level 0.7330. MACD which illustrate bearish bias signal suggest the pair to be traded lower after it breaks below the support level.<\/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 lower while currently testing the support level 0.7000. MACD which illustrate bearish bias signal suggest the pair to extend its losses after it breaks below the support level.<\/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 higher while currently testing the resistance level 1.2535. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level.<\/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 lower while currently testing near the support level 0.9135. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9200, 0.9245<\/p>\n

Support level: 0.9135, 0.9090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level 68.35. MACD which illustrate bearish bias signal with the formation of death cross suggest the commodity to extend its losses towards the support level 65.65.<\/p>\n

 <\/p>\n

Resistance level: 68.35, 71.00<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GOLD, H4: <\/strong>Gold price was traded higher following recent breakout above the previous resistance level 1760.35. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to experience a technical correction in short term back towards the level 1760.35.<\/p>\n

 <\/p>\n

Resistance level: 1792.10, 1831.85<\/p>\n

Support level: 1760.35, 1725.50<\/p>\n","protected":false},"excerpt":{"rendered":"

16 August 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Aussie fell following softer China data. The Australian dollar which traded against the dollar and other currency pairs remain pressured and fell after recent released of inflation data from China. According to National Bureau of Statistics of China, China\u2019s Retail Sales have deteriorated to 8.5%, weaker than market […]<\/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\/191925"}],"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=191925"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/191925\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=191925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=191925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=191925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}