{"id":101595,"date":"2020-02-13T03:14:25","date_gmt":"2020-02-13T03:14:25","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=101595"},"modified":"2020-02-13T03:14:25","modified_gmt":"2020-02-13T03:14:25","slug":"130220-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130220-afternoon-session-analysis\/","title":{"rendered":"130220 Afternoon Session Analysis"},"content":{"rendered":"

13 February 2020\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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Aussie dollar slumped, all eyes on Hubei. <\/strong><\/span><\/p>\n

Australian dollar extended its losses from prior high level after China\u2019s Hubei province reported a sharp jump in the number of new cases of coronavirus. Earlier this morning, the local Hubei government reported 14,840 new cases, significantly higher than previous count of only 1,638. In addition, the total number of deaths in the province rose by 242 to 1,310. Hubei health commission said that it has started including cases which are diagnosed with new method, leading to a sharp increase in reported numbers. Investors remained pessimistic with regards to China and global economic outlook as the latest figures from Hubei signifies that the epidemic still remains as a potent threat. As China is one of Australia\u2019s major trading partner, the data has dialed down market expectation towards Aussie\u2019s economic growth and thus spurring a selloff on Australian dollar. However, losses on the Australian dollar were limited as investors expect Chinese policymakers to implement numerous measures in order to provide support to their economy. As of writing, pair of AUD\/USD fell 0.15% to 0.6727.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price depreciates by 0.45% to $51.42 per barrel. Oil futures received significant selloff following sharp rise in new coronavirus infection in Hubei, China. The report has dialed down market speculation that the epidemic may have reached its peak while spurring concerns over a possible slump in global oil demand due to the outbreak. On the other hand, gold price rose 0.30% to $1,570.03 a troy ounce due to higher risk aversion in the market.<\/p>\n

 <\/p>\n

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

N\/A<\/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

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Core CPI (MoM) (Jan)<\/td>\n0.1%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily<\/strong>\uff1a<\/strong>Dollar index was traded higher while currently testing the resistance level at 98.65. MACD which illustrated bullish bias momentum suggest the index to extend its gains after it successfully breakout above the resistance level at 98.65.<\/p>\n

 <\/p>\n

Resistance level: 98.65, 99.05<\/p>\n

Support level: 98.20, 97.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.2975. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.2920.<\/p>\n

 <\/p>\n

Resistance level: 1.2975, 1.3035<\/p>\n

Support level: 1.2920, 1.2870<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level at 1.0895. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 1.0855.<\/p>\n

 <\/p>\n

Resistance level: 1.0895, 1.0935<\/p>\n

Support level: 1.0855, 1.0795<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher while currently testing the resistance level at 109.95. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 109.95.<\/p>\n

 <\/p>\n

Resistance level: 109.95, 110.25<\/p>\n

Support level: 109.55, 109.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.6720. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.6755.<\/p>\n

 <\/p>\n

Resistance level: 0.6755, 0.6805<\/p>\n

Support level: 0.6720, 0.6705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6455. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6405.<\/p>\n

 <\/p>\n

Resistance level: 0.6455, 0.6490<\/p>\n

Support level: 0.6405, 0.6365<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.3265. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward support level at 1.3210.<\/p>\n

 <\/p>\n

Resistance level: 1.3265, 1.3335<\/p>\n

Support level: 1.3210, 1.3145<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9780. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.9780.<\/p>\n

 <\/p>\n

Resistance level: 0.9780, 0.9810<\/p>\n

Support level: 0.9750, 0.9720<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 50.65. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward the resistance level at 51.75.<\/p>\n

 <\/p>\n

Resistance level: 51.75, 52.60<\/p>\n

Support level: 50.65, 49.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was higher while currently testing the resistance level at 1571.35. MACD which illustrated diminishing bearish momentum with the formation of golden cross suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1571.35, 1578.25<\/p>\n

Support level: 1564.15, 1558.00<\/p>\n","protected":false},"excerpt":{"rendered":"

13 February 2020\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 Afternoon Session Analysis   Aussie dollar slumped, all eyes on Hubei. Australian dollar extended its losses from prior high level after China\u2019s Hubei province reported a sharp jump in the number of new cases of coronavirus. Earlier this morning, the local Hubei government reported 14,840 new cases, significantly higher than previous count […]<\/p>\n","protected":false},"author":54,"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\/101595"}],"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\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=101595"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/101595\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=101595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=101595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=101595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}