{"id":198833,"date":"2021-09-20T04:19:40","date_gmt":"2021-09-20T04:19:40","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=198833"},"modified":"2021-09-20T04:19:40","modified_gmt":"2021-09-20T04:19:40","slug":"200921-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/200921-afternoon-session-analysis\/","title":{"rendered":"200921 Afternoon Session Analysis"},"content":{"rendered":"

20 September 2021\u00a0\u00a0\u00a0\u00a0\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

 <\/p>\n

Australian dollar depreciated following negative economic outlook.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the dollar and other currency pairs have fell following China Evergrande woes dampened market sentiment. Recently, incapability of the largest property developer China Evergrande to repay its debt has led to widespread of speculation that it is on the verge of bankruptcy. The risk of collapse of the China property market may result in significant reduction in China\u2019s demand of raw material from Australia, thus reducing Australia\u2019s economic income. Moreover, Australia real estate market was dampened due to the liquidation of Australian property assets by China investors in order to cover bad debts. This will lead to contraction of economic activities in Australia. On top of that, the pair also suffered further losses following rising market speculation over Fed\u2019s tapering announcement during its upcoming monetary policy meeting. As of writing, the pair of AUD\/USD slumped 0.72% to 0.7227.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.20% to $71.15 per barrel as of writing amid the recovery of oil production. The oil refiners are set to restart their production as they recover from the strike of Hurricane Ida. On the other hand, the gold price was down 0.47% to $1748.21 a troy ounce as of writing amid strengthening US 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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Public Holiday<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CNY\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Public Holiday<\/p>\n

 <\/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 higher following prior breakout above the previous resistance level 93.10. MACD which illustrate persistent bullish momentum signal suggest the dollar to extend its gains towards the resistance level 93.70.<\/p>\n

 <\/p>\n

Resistance level: 93.70, 94.20<\/p>\n

Support level: 93.10, 92.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level 1.3765. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 1.3605.<\/p>\n

 <\/p>\n

Resistance level: 1.3765, 1.3875<\/p>\n

Support level: 1.3605, 1.3460<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level 1.1705. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1800, 1.1885<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remain traded in a sideway channel. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower in short term towards the support level.<\/p>\n

 <\/p>\n

Resistance level: 110.20, 110.75<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below the previous support level 0.7250. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 0.7150.<\/p>\n

 <\/p>\n

Resistance level: 0.7250, 0.7335<\/p>\n

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

\u00a0<\/strong><\/p>\n

\"\"<\/strong><\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing near the support level 0.6990. However, MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7075, 0.7145<\/p>\n

Support level: 0.6990, 0.6920<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level 1.2770. MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains towards the resistance level 1.2870.<\/p>\n

 <\/p>\n

Resistance level: 1.2870, 1.2955<\/p>\n

Support level: 1.2770, 1.2685<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following recent breakout above the previous resistance level 0.9310. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower as a technical correction towards the level 0.9310.<\/p>\n

 <\/p>\n

Resistance level: 0.9375, 0.9430<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing near the support level 70.45. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 72.45, 74.30<\/p>\n

Support level: 70.45, 68.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level 1754.40. MACD which illustrate ongoing bearish momentum signal suggest the commodity to extend its losses towards the support level 1725.50<\/p>\n

 <\/p>\n

Resistance level: 1806.85, 1831.20<\/p>\n

Support level: 1785.80, 1760.35<\/p>\n","protected":false},"excerpt":{"rendered":"

20 September 2021\u00a0\u00a0\u00a0\u00a0\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   Australian dollar depreciated following negative economic outlook. The Australian dollar which traded against the dollar and other currency pairs have fell following China Evergrande woes dampened market sentiment. Recently, incapability of the largest property developer China Evergrande to repay its debt has led to widespread of speculation that […]<\/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\/198833"}],"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=198833"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/198833\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=198833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=198833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=198833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}