30 June 2021 Afternoon Session Analysis
Aussie slips following mixed China PMI.
The Australian dollar which traded against the greenback and other currency pairs have fell following recent release of China’s official PMI. According to China Federation of Logistics and Purchasing, China’s NBS Manufacturing PMI rose past market forecast if 50.8 to 50.9 but lagged behind the 51.00 prior. On the same line, Non-Manufacturing PMI also stayed below 55.2 prior despite exceed market expectation of 52.7 with 53.5 reading for June. On top of that, coronavirus concern and slower vaccination in Australia also dented market confidence. According to data, only 4% of Australians are fully vaccinated. Besides that, the country also continues report new cases of Delta variant coronavirus and prompt certain states such as Sydney, Darwin, Northern Queensland to impose further lockdown in order to curb the spread of the virus. At the time of writing, AUD/USD fell 0.11% to $0.7519.
In the commodities market, crude oil price rose 0.09% to $73.69 per barrel at the time of writing as OPEC delay its meeting on production to resolve differences. According to reports, OPEC+ members such as Russia have considered backing an increase in output, while Saudi Arabia has exercised caution in the face of growing demand and global spread of the delta variant. The alliance has delayed preliminary talks between ministers by one day to allow more time to resolve differences. On the other hand, gold price slips 0.03% to $1762.18 a troy ounce at the time of writing following dollar strength.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
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Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 14:00 | GBP – GDP (QoQ) (Q1) | -1.50% | -1.50% | – |
| 14:00 | GBP – GDP (YoY) (Q1) | -6.10% | -6.10% | – |
| 15:55 | EUR – German Unemployment Change (Jun) | -15K | -16K | – |
| 17:00 | EUR – CPI (YoY) (Jun) | 2.00% | 1.90% | – |
| 20:15 | USD – ADP Nonfarm Employment Change (Jun) | 978K | 600K | – |
| 20:30 | CAD – GDP (MoM) (Apr) | 1.10% | -0.90% | – |
| 22:00 | USD – Pending Home Sales (MoM) (May) | -4.40% | -1.00% | – |
| 22:30 | CrudeOIL – Crude Oil Inventories | -7.614M | – | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from the support level 94.65. MACD which illustrate ongoing bullish momentum signal suggest the dollar to extend its gains towards the resistance level 92.25.
Resistance level: 92.25, 92.70
Support level: 91.65, 91.30
GBPUSD, H4: GBPUSD was traded lower while currently testing the support level 1.3830. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to experience a technical correction towards the resistance level 1.3935.
Resistance level: 1.3935, 1.4020
Support level: 1.3830, 1.3755
EURUSD, H4: EURUSD was traded lower following prior breakout below the previous support level 1.1920. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 1.1845.
Resistance level: 1.1920, 1.1985
Support level: 1.1845, 1.1785
USDJPY, H4: USDJPY was traded lower while currently testing near the support level 110.30. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 111.00, 111.60
Support level: 110.30, 109.75
AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level0.7545. MACD which illustrate bearish bias signal suggest the pair to extend its losses towards the support level 0.7475.
Resistance level: 0.7545, 0.7595
Support level: 0.7475, 0.7395
NZDUSD, H4: NZDUSD was traded lower following recent breakout below the previous support level 0.7010. MACD which illustrate bearish bias signal suggest the pair to extend its losses towards the support level 0.6925.
Resistance level: 0.7010, 0.7075
Support level: 0.6925, 0.6825
USDCAD, H4: USDCAD was traded higher while currently testing near the resistance level 1.2420. MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.
Resistance level: 1.2420, 1.2505
Support level: 1.2350, 1.2275
USDCHF, H4: USDCHF was traded higher following prior rebound from the support level 0.9195. MACD which illustrate bullish momentum signal suggest the pair to extend its gains towards the resistance level 0.9245.
Resistance level: 0.9245, 0.9280
Support level: 0.9195, 0.9135
CrudeOIL, H4: Crude oil price was traded higher following prior rebound from the support level 72.40. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its rebound towards the resistance level 74.20.
Resistance level: 74.20, 76.30
Support level: 72.40, 70.25
GOLD_, H4: Gold price was traded lower following prior breakout below the previous support level 1767.55. MACD which illustrate bearish bias signal with the formation of death cross suggest the commodity to extend its losses towards the support level 1725.50.
Resistance level: 1767.55, 1812.10
Support level: 1725.50, 1679.60.