{"id":192197,"date":"2021-08-17T05:35:57","date_gmt":"2021-08-17T05:35:57","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=192197"},"modified":"2021-08-17T05:35:57","modified_gmt":"2021-08-17T05:35:57","slug":"170821-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/170821-afternoon-session-analysis\/","title":{"rendered":"170821 Afternoon Session Analysis"},"content":{"rendered":"

17 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 dovish RBA minutes.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the dollar and other currency pairs have fell after RBA have expressed dovish statement on its latest meeting minutes recently. According to the RBA, the recent outbreaks of the Delta variant have interrupted the recovery and the near-term outlook was highly uncertain and dependent on health outcomes. The central bank also stated that it will not increase rate until the actual inflation is sustainably within the 2 \u2013 3 percent target range. With the virus resurgence, Aussie confidence in the policymakers have declined, thus weighing on the pair. Following latest data, Aussie figures remain elevated near August 2020 levels surrounding 500 daily cases and faith towards the ability of government to handle the outbreak also deteriorated sharply. At the time of writing, AUD\/USD fell 0.40% to 0.7307.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price remains weak and fell 0.11% to $67.17 per barrel as of writing amid spreading of Delta variant continue to threaten demand outlook. Surging cases in Asia weighing on the second biggest oil importer country, China with retail sales and industrial output have slowed according to recent data. On top of that, China\u2019s oil refining also slumped to the lowest level in 14 months. On the other hand, gold price rose 0.09% to $1786.99 a troy ounce at the time of writing amid declining risk appetite.<\/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\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Average Earnings Index +Bonus (Jun)<\/td>\n7.30%<\/td>\n8.70%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Claimant Count Change (Jul)<\/td>\n-114.8K<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Core Retail Sales (MoM) (Jul)<\/td>\n1.30%<\/td>\n0.20%<\/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 92.65. MACD which illustrate diminishing bearish momentum signal suggest the dollar to extend its gains after it breaks above the resistance level 92.65.<\/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 lower following prior retracement from the resistance level 1.3885. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to extend its retracement 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 1.1765. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/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 while currently testing near the support level 109.20. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher as a technical correction towards the resistance level 109.70.<\/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 was traded lower following prior breakout below the previous support level 0.7330. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 0.7245.<\/p>\n

 <\/p>\n

Resistance level: 0.7330, 0.7415<\/p>\n

Support level: 0.7245, 0.7150<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level 0.7000. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses towards the support level 0.6925.<\/p>\n

 <\/p>\n

Resistance level: 0.7000, 0.7075<\/p>\n

Support level: 0.6925, 0.6825<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level 1.2600. 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: 1.2600, 1.2675<\/p>\n

Support level: 1.2535, 1.2440<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level 0.9135. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound after it breaks above the resistance level.<\/p>\n

 <\/p>\n

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

Support level: 0.9090, 0.9040<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following recent breakout below the previous support level 68.35. MACD which illustrate ongoing bearish momentum signal 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 while currently testing near the resistance level 1792.35. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to experience a technical correction towards the support level 1760.35.<\/p>\n

 <\/p>\n

Resistance level: 1792.35, 1831.85<\/p>\n

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

17 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 dovish RBA minutes. The Australian dollar which traded against the dollar and other currency pairs have fell after RBA have expressed dovish statement on its latest meeting minutes recently. According to the RBA, the recent outbreaks of the Delta variant have interrupted the recovery and […]<\/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\/192197"}],"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=192197"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/192197\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=192197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=192197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=192197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}