Forex Daily Analysis : April 21, 2021

The daily forex analysis on April 21, 2021 this time will discuss the Aussie versus the Greenback that had weakened in market trading last Tuesday, April 20, 2021. The weakening of the Australian Dollar is due to a decline in Australian copper prices, it is the decline in copper prices that has stalled the strengthening of the Australian Dollar. Over the past few days, the Aussie currency has strengthened and reached its weekly high, supported by a weakening of the US Dollar. For today's market movement on Wednesday 21 April 2021 in the Asian session, it is expected that the Aussie will still weaken. This weakness is due to the still declining Australian commodity prices and the US Dollar strengthening movement. However, the weakening of the Australian Dollar is not expected to last long. This is because the US Dollar will continue to sell, following a decline in US government bond yields for long-term tenors. The US dollar is already at its lowest level in trading during April, the main cause of the US dollar's weakness is the decline in the yield value of government bonds for 10-year tenors. The decline in bond yields fell from a 14-month high of 1.776% which was touched in March trading. In addition, the reason for the weakening of the US dollar is that the chairman of the Federal Reserve will still maintain its low interest rate and will continue its monetary stimulus program to boost economic growth. The greenback after touching its lowest level compared to other major currencies for approximately 7 weeks in Asian session trading, the US Dollar index is now moving steadily. The US dollar was stable in Tuesday trading as interest rates in the United States moved in a limited range, as well as information about vaccination activities in the euro zone that began to improve. On the other hand, the strengthening of the Euro against other currencies is supported by information that EU countries have managed to get an additional amount of around 100 million doses of Covid-19 vaccines produced by BioNTech and Pfizer. This information has illustrated that the recovery rate of the European region from the Corona pandemic will soon follow the United States with rapid economic growth.

Forex Daily Analysis Predictions 

Today's FOREX prediction on the AUDUSD pair is expected to weaken/decline and the recommended OP (Open Position) is SELL at the level of 0.77000. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
This the daily analysis of forex on April 21, 2021. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.