{"id":315821,"date":"2023-04-10T06:01:15","date_gmt":"2023-04-10T06:01:15","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=315821"},"modified":"2023-04-10T06:01:15","modified_gmt":"2023-04-10T06:01:15","slug":"100423-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/100423-afternoon-session-analysis\/","title":{"rendered":"100423 Afternoon Session Analysis"},"content":{"rendered":"

10 April 2023\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

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Euro dipped despite ECB\u2019s Knot hawkish speech.\u00a0\u00a0<\/span><\/strong><\/p>\n

The single currency in the Eurozone, which is majorly traded by global investors, failed to extend its rally last Friday despite ECB\u2019s Knot hawkish statement.\u00a0 Klaas Knot, the Dutch central bank governor and a leading policy hawk, commented in the NRC newspaper\u2019s interview that the ECB is certainly not done with interest rate hikes at this point in time.\u00a0 It brings a thought that the European Central Bank (ECB) has to continue raising the cash rate to cool down the still-high inflation.\u00a0 He added that the current 3% interest rate is far from the level to bring down the 6% of core inflation, therefore, the upcoming rate hike needs to be 25 basis points or 50 basis points.\u00a0 Besides, he also highlighted that the chance of a rate cut this year is almost impossible, whereby hinted that the cash rate would be stayed at a high level for an extended period of time, possibly until the end of this year.\u00a0 As of writing, the pair of EUR\/USD rose 0.03% to 1.0900.<\/p>\n

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In the commodities market, crude oil prices edged up by 0.32% to $80.60 per barrel as the oil supply remained tight, especially after the extra oil cut plan by OPEC+ last week.\u00a0\u00a0 Besides, gold prices edged down by -0.92% to $1989.45 per troy ounce as the US unemployment rate dropped below the expectation.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 United Kingdom – Easter<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Germany – Easter<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CHF\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Switzerland – Easter<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AUD\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Australia – Easter<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 NZD\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 New Zealand \u2013 Easter<\/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\/A<\/p>\n

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 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher following the prior rebound from the support level at 101.25. MACD which illustrated diminishing bearish momentum suggests the index to extend its gains toward the resistance level at 103.15.<\/p>\n

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Resistance level: 103.15, 105.00<\/p>\n

Support level: 101.25, 99.40<\/p>\n

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GBPUSD, Daily: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.2405. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

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Resistance level: 1.2510, 1.2645<\/p>\n

Support level: 1.2405, 1.2300<\/p>\n

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\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower following the prior breakout below the previous support level at 1.0915. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.0770.<\/p>\n

 <\/p>\n

Resistance level: 1.0915, 1.1010<\/p>\n

Support level: 1.0770, 1.0665<\/p>\n

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\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following the prior rebound from the support level at 130.70. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 133.05.<\/p>\n

 <\/p>\n

Resistance level: 133.05, 135.20<\/p>\n

Support level: 130.70, 127.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower following the prior retracement from the resistance level at 0.6675. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6565.<\/p>\n

 <\/p>\n

Resistance level: 0.6675, 0.6785<\/p>\n

Support level: 0.6565, 0.6425<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following the prior breakout below the previous support level at 0.6290. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6150.<\/p>\n

 <\/p>\n

Resistance level: 0.6290, 0.6455<\/p>\n

Support level: 0.6150, 0.6040<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following the prior breakout above the previous resistance level at 1.3485. MACD which illustrated diminishing bearish momentum suggests the pair to extend its gains toward the resistance level at 1.3565.<\/p>\n

 <\/p>\n

Resistance level: 1.3565, 1.3635<\/p>\n

Support level: 1.3485, 1.3395<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9075. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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Resistance level: 0.9075, 0.9125<\/p>\n

Support level: 0.9000, 0.8930<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 81.70. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 81.70, 87.75<\/p>\n

Support level: 79.65, 76.10<\/p>\n

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\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower following the prior breakout below the previous support level at 2003.55. MACD which illustrated diminishing bullish momentum suggests the commodity to extend its losses toward the support level at 1972.80.<\/p>\n

 <\/p>\n

Resistance level: 2003.55, 2021.15<\/p>\n

Support level: 1972.80, 1957.00<\/p>\n","protected":false},"excerpt":{"rendered":"

10 April 2023\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     Euro dipped despite ECB\u2019s Knot hawkish speech.\u00a0\u00a0 The single currency in the Eurozone, which is majorly traded by global investors, failed to extend its rally last Friday despite ECB\u2019s Knot hawkish statement.\u00a0 Klaas Knot, the Dutch central bank governor and a leading policy hawk, commented in the […]<\/p>\n","protected":false},"author":25,"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\/315821"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=315821"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/315821\/revisions"}],"predecessor-version":[{"id":315867,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/315821\/revisions\/315867"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=315821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=315821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=315821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}