22 September 2021 Afternoon Session Analysis
Swiss Franc rose following upbeat economic data.
The Swiss Franc which traded against the dollar and other currency pairs have rose following the release of upbeat trade data from Switzerland. According to the Federal Statistical Office, Switzerland Trade Balance came in with the reading of 5.055B, higher than the forecasted reading of 4.5B. The better-than-expected data has provided a positive tone towards the economic growth of the region. Besides that, the potential default risk of China Evergrande has spurred investors’ concerns over spillover effect into the global economy, which has reiterated the appeal of Swiss Franc as safe haven. China Evergrande which is currently in debt of $310 billion is expected to make a series of interest payments starting on Thursday and credit rating agencies stated that a default is “likely”. On the other hand, the Swiss Franc also receive further support from higher inflow of currencies. According to analysts, the recent foreign investment flows into Swiss stocks, particularly into Swiss heavyweights such as Nestle and Roche, have resulted in an uptick on Swiss Balance of Payments figures. As of writing, the pair of USD/CHF was down 0.11% to 0.9239.
In the commodities market, the crude oil price surged 0.2% to $71.11 per barrel as of writing following concerns over tight supply. Supply is expected to remain tight after Royal Dutch Shell, the largest U.S. Gulf of Mexico producer, stated that damage to its offshore transfer facilities would cut production into early next year. Moreover, API also reported a better-than-expected crude oil inventories which further confirms tightening crude oil supply. On the other hand, gold price rebound 0.16% to $1777.45 a troy ounce at the time of writing amid dollar retreat.
Pasaran Tutup Hari Ini
Masa Pasaran Acara
N/A
Acara Kemuncak Hari Ini
Masa Pasaran Acara
02:00 USD FOMC Economic Projections
(23hb)
02:00 USD FOMC Statement
(23hb)
02:30 USD FOMC Press Conference
(23hb)
Data Ekonomi Kemuncak Hari Ini
| Masa | Pasaran & Acara | Terdahulu | Ramalan | Sebenar |
| 22:00 | USD – Existing Home Sales (Aug) | 5.99M | 5.88M | – |
| 22:30 | CrudeOIL – Crude Oil Inventories | -6.422M | – | – |
| 02:00
(23hb) |
USD – Fed Interest Rate Decision | 0.25% | 0.25% | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from the support level 91.10. MACD which illustrate diminishing bearish momentum signal suggest the dollar to extend its gains towards the resistance level 91.70.
Resistance level: 93.70, 94.20
Support level: 93.10, 92.70
GBPUSD, H4: GBPUSD was traded lower while currently testing near the support level 1.3605. However, MACD which illustrate diminishing bearish momentum signal with the formation of golden cross suggest the pair to be traded higher towards the resistance level 1.3765.
Resistance level: 1.3765, 1.3875
Support level: 1.3605, 1.3460
EURUSD, H4: EURUSD was traded lower while currently testing near the support level 1.1705. However, MACD which illustrate bullish momentum signal suggest the pair to be traded higher towards the resistance level 1.1800.
Resistance level: 1.1800, 1.1885
Support level: 1.1705, 1.1625
USDJPY, H4: USDJPY was traded higher while currently testing near the resistance level 109.60. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 109.60.
Resistance level: 109.60, 110.20
Support level: 109.15, 108.65
AUDUSD, H4: AUDUSD was traded lower while currently testing the support level 0.7235. However, MACD which illustrate bullish momentum signal suggest the pair to experience a technical correction towards the resistance level 0.7335.
Resistance level: 0.7335, 0.7415
Support level: 0.7250, 0.7150
NZDUSD, H4: NZDUSD was traded lower while currently testing near the support level 0.6990. However, MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to be traded higher towards the resistance level 0.7075.
Resistance level: 0.7075, 0.7145
Support level: 0.6990, 0.6920
USDCAD, H4: USDCAD was traded lower while currently testing near the support level 1.2770. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 1.2870, 1.2955
Support level: 1.2770, 1.2685
USDCHF, H4: USDCHF was traded higher following prior rebound from the support level 0.9240. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 0.9310.
Resistance level: 0.9310, 0.9375
Support level: 0.9245, 0.9200
CrudeOIL, H4: Crude oil price was traded higher following prior rebound from the support level 70.45. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its rebound towards the resistance level 72.45.
Resistance level: 72.45, 74.30
Support level: 70.45, 68.05
GOLD, H4: Gold price was traded higher while currently testing near the resistance level 1785.80. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower towards the support level 1753.05.
Resistance level: 1785.80, 1806.85
Support level: 1753.05, 1725.50