{"id":202467,"date":"2021-10-06T06:24:04","date_gmt":"2021-10-06T06:24:04","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=202467"},"modified":"2021-10-06T06:24:04","modified_gmt":"2021-10-06T06:24:04","slug":"061021-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/061021-afternoon-session-analysis\/","title":{"rendered":"061021 Afternoon Session Analysis"},"content":{"rendered":"

6 October 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

Australian dollar rose despite RBA dovish stance.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the US dollar and other currency pairs have rose despite with dovish statement from Reserve Bank of Australia (RBA). The RBA has announced its decision to maintain interest rate at 0.1% while holding its purchases of bonds at $4 billion a week until mid-February next year. According to Reserve Bank of Australia (RBA) governor Philip Lowe, he stated that both wage and price pressures across the country are expected to be remained subdued despite improvement in job market after the end of lockdown restriction in the region. He also added that the rate hike will be made by Reserve Bank of Australia (RBA) once the actual inflation is sustainably within the 2 to 3% target range. Nevertheless, the Aussie remain supported by upbeat economic data. According to Australian Bureau of Statistics, Australia Retail Sales figure in August matching with the forecasted reading of -1.7%. The data suggested a higher consumer spending due to the surge of online sales for non-food retailing. As of writing, the pair of AUD\/USD rose 0.02% to 0.7286.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price surged 0.08% to $79.01 per barrel as of writing amid rising global demand of oil. Oil market continue to extended its gains following the economic reopening in Europe and Asia which is expected to increase oil demand for electricity generation. On the other hand, the gold price was down 0.03% to $1758.63 per troy ounces 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

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\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Construction PMI (Sep)<\/td>\n55.2<\/td>\n55<\/td>\n–<\/td>\n<\/tr>\n
20:15<\/td>\nUSD – ADP Nonfarm Employment Change (Sep)<\/td>\n374K<\/td>\n430K<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL- Crude Oil Inventories<\/td>\n4.578M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from the support level 93.70. MACD which illustrate diminishing bearish momentum signal suggest the dollar to extend its rebound towards the resistance level 94.35.<\/p>\n

 <\/p>\n

Resistance level: 94.35, 94.90<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level 1.3605. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level 1.3605.<\/p>\n

 <\/p>\n

Resistance level: 1.3745, 1.3875<\/p>\n

Support level: 1.3605, 1.3435<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level 1.1610. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses towards the support level 1.1515.<\/p>\n

 <\/p>\n

Resistance level: 1.1610, 1.1690<\/p>\n

Support level: 1.1515, 1.1440<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level 111.50. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 112.15.<\/p>\n

 <\/p>\n

Resistance level: 112.15, 112.60<\/p>\n

Support level: 111.50, 110.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing near the support level 0.7335. 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: 0.7335, 0.7415<\/p>\n

Support level: 0.7235, 0.7150<\/p>\n

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

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

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing near the support level 0.6915. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level 0.6915.<\/p>\n

 <\/p>\n

Resistance level: 0.6990, 0.7075<\/p>\n

Support level: 0.6915, 0.6815<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level 1.2585. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 1.2695.<\/p>\n

 <\/p>\n

Resistance level: 1.2695, 1.2770<\/p>\n

Support level: 1.2585, 1.2510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following recent rebound from the support level 0.9240. MACD which illustrate diminishing bearish momentum signal with the formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.9310.<\/p>\n

 <\/p>\n

Resistance level: 0.9310, 0.9375<\/p>\n

Support level: 0.9240, 0.9185<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil was traded higher while currently testing near the resistance level 79.40. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower as a technical correction towards the support level 76.40.<\/p>\n

 <\/p>\n

Resistance level: 79.40, 82.50<\/p>\n

Support level: 76.40, 74.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD, H4: <\/strong>Gold price was traded lower while currently testing near the support level 1747.05. MACD which illustrate bearish momentum signal with the formation of death cross suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1779.70, 1806.85<\/p>\n

Support level: 1747.05, 1721.65<\/p>\n","protected":false},"excerpt":{"rendered":"

6 October 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Australian dollar rose despite RBA dovish stance. The Australian dollar which traded against the US dollar and other currency pairs have rose despite with dovish statement from Reserve Bank of Australia (RBA). The RBA has announced its decision to maintain interest rate at 0.1% while holding its purchases […]<\/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\/202467"}],"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=202467"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/202467\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=202467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=202467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=202467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}