{"id":193637,"date":"2021-08-24T06:33:01","date_gmt":"2021-08-24T06:33:01","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=193637"},"modified":"2021-08-24T06:33:01","modified_gmt":"2021-08-24T06:33:01","slug":"240821-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/240821-afternoon-session-analysis\/","title":{"rendered":"240821 Afternoon Session Analysis"},"content":{"rendered":"

24 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

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New Zealand Kiwi rose following upbeat Retail Sales data.<\/strong><\/span><\/p>\n

The New Zealand dollar which traded against the greenback and other currency pairs have rose as the pair benefitted from the recent release of strong New Zealand Retail Sales data. According to Statistics New Zealand, New Zealand Retail Sales rose to 3.3%, surpassed market expectation of 2.0% and also previous reading of 2.5%. Statistics New Zealand stated that most retail industries have witness an increase in spending with rises across all region. As the data continue to impress, New Zealand Finance Minister Grant Robertson recently stated that New Zealand is in a strong fiscal position to handle the recent lockdown. At the same time, the pair also currently supported by dollar weakness which dragged by surging Delta variant cases in the U.S. At the time of writing, NZD\/USD rose 0.12% to 0.6895.<\/p>\n

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In the commodities market, crude oil price soars 0.55% to $65.85 per barrel as of writing following U.S clearance for Covid-19 vaccine increased hopes of fuel demand. According to the latest development, The U.S. Food and Drug Administration (FDA), which last December authorized the Pfizer\/BioNtech two-dose vaccine for emergency use, has now issued full approval for use in people age 16 and older. Health officials expected that the move will convince unvaccinated Americans that the shot is safe and effective and boost vaccination numbers. On the other hand, gold price rose 0.11% to $1802.75 a troy ounce at the time of writing following dollar weakness.<\/p>\n

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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

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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
14:00<\/td>\nEUR – German GDP (QoQ) (Q2)<\/td>\n1.50%<\/td>\n1.50%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – New Home Sales (Jul)<\/td>\n676K<\/td>\n690K<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Technical Analysis<\/u><\/strong><\/p>\n

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below the previous support level 93.10. MACD which illustrate ongoing bearish momentum signal suggest the dollar to extend its losses towards the support level 92.65.<\/p>\n

 <\/p>\n

Resistance level: 93.10, 93.70<\/p>\n

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

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GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing near the resistance level 1.3745. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement from the resistance level 1.3745.<\/p>\n

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Resistance level: 1.3745, 1.3885<\/p>\n

Support level: 1.3600, 1.3460<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing near the resistance level 1.1765. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower in short term towards the support level 1.1705.<\/p>\n

 <\/p>\n

Resistance level: 1.1765, 1.1830<\/p>\n

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

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\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the support level 109.60. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 110.15, 110.75<\/p>\n

Support level: 109.60, 109.15<\/p>\n

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\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing near the resistance level 0.7245. MACD which illustrate persistent bullish momentum signal suggest the pair to extend its gains after it breaks above the previous resistance level 0.7245.<\/p>\n

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

Support level: 0.7150, 0.7075<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing near the resistance level 0.6925. MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

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

Support level: 0.6820, 0.6725<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level 1.2675. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses towards the support level 1.2585.<\/p>\n

 <\/p>\n

Resistance level: 1.2675, 1.2770<\/p>\n

Support level: 1.2585, 1.2440<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing near the support level 0.9100. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level 0.9100.<\/p>\n

 <\/p>\n

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

Support level: 0.9100, 0.9025<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level 65.35. MACD which illustrate ongoing bullish momentum signal suggest the commodity to extend its gains towards the resistance level 68.35.<\/p>\n

 <\/p>\n

Resistance level: 65.35, 68.35<\/p>\n

Support level: 61.60, 57.30<\/p>\n

 <\/p>\n

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GOLD, H4: <\/strong>Gold price was traded higher following prior breakout above previous resistance level 1792.35. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the gold to extend its gains towards the resistance level 1831.85.<\/p>\n

 <\/p>\n

Resistance level: 1831.85, 1866.85<\/p>\n

Support level: 1792.35, 1760.35<\/p>\n","protected":false},"excerpt":{"rendered":"

24 August 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   New Zealand Kiwi rose following upbeat Retail Sales data. The New Zealand dollar which traded against the greenback and other currency pairs have rose as the pair benefitted from the recent release of strong New Zealand Retail Sales data. According to Statistics New Zealand, New Zealand Retail Sales […]<\/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\/193637"}],"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=193637"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/193637\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=193637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=193637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=193637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}