18 February 2022 Afternoon Session Analysis
Australia Dollar surged amid resilient job market.
The Australia Dollar surged over the backdrop of bullish economic data yesterday, which spurring bullish momentum on the pair of AUD/USD. According to Australian Bureau of Statistics, Australia Employment Change came in at 12.9K, exceeding the market forecast at -15.0K. As the data had fared better than expectation, which dialled up market optimism toward the economic progression in Australia while increasing hawkish expectation from Reserve Bank of Australia in future. Though, the gains experienced by the Australia Dollar was limited by the risk-off sentiment tin the global financial market. Recently, the rising geopolitical tensions between Russia dan Ukraine had continued to stoke a shift in sentiment toward safe-haven asset, diminishing demand for Australia Dollar. As for now, investors would continue to scrutinize the latest updates with regards of the geopolitical tensions between Ukraine and Russia as well as further economic data to receive further trading signal. As of writing, AUD/USD appreciated by 0.22% to 0.7200.
In the commodities market, the crude oil price depreciated by 0.76% to $91.25 per barrel as of writing. The oil market edged lower amid market participants speculated that the positive prospect of US-Iran nuclear dear would induce United States to remove the trade tariff from Iran, which increasing the oil supply in future. On the other hand, the gold price depreciated by 0.40% to $1891.00 per troy ounces as of writing amid technical correction.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 14:00 | GBP – Retail Sales (MoM) (Jan) | -3.7% | 1.0% | – |
| 21:30 | CAD – Core Retail Sales (MoM) (Dec) | 1.1% | -2.0% | – |
| 23:00 | USD – Existing Home Sales (Jan) | 6.18M | 6.10M | – |
Technical Analysis
DOLLAR_INDX, Daily: Dollar index was traded lower following prior retracement from the resistance level at 95.95. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.
Resistance level: 95.95, 96.80
Support level: 94.55, 93.25
GBPUSD, H4: GBPUSD was traded higher following prior rebound from the support level at 1.3505. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 1.3615, 1.3730
Support level: 1.3505, 1.3440
EURUSD, H4: EURUSD was traded higher while currently testing the resistance level at 1.1380. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 1.1380, 1.1475
Support level: 1.1290, 1.1235
USDJPY, H4: USDJPY was traded higher while currently near the resistance level at 115.40. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 115.40, 116.25
Support level: 114.30, 113.65
AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.7205. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 0.7205, 0.7270
Support level: 0.7125, 0.7055
NZDUSD, Daily: NZDUSD was traded higher while currently testing the resistance level at 0.6710. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.6710, 0.6865
Support level: 0.6535, 0.6430
USDCAD, Daily: USDCAD was traded lower while currently testing the support level at 1.2655. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.2780, 1.2950
Support level: 1.2655, 1.2475
USDCHF, H4: USDCHF was traded lower while currently testing the support level at 0.9175. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.9270, 0.9345
Support level: 0.9180, 0.9095
CrudeOIL, H1: Crude oil price was traded lower while currently near the support level at 88.50. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.
Resistance level: 91.50, 93.05
Support level: 88.50, 86.20
GOLD_, Daily: Gold price was traded higher while currently testing the resistance level at 1900.35. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1900.35, 1923.35
Support level: 1870.15, 1847.60