{"id":126995,"date":"2020-06-18T04:18:59","date_gmt":"2020-06-18T04:18:59","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=126995"},"modified":"2020-06-18T04:18:59","modified_gmt":"2020-06-18T04:18:59","slug":"180620-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/180620-afternoon-session-analysis\/","title":{"rendered":"180620 Afternoon Session Analysis"},"content":{"rendered":"

18 June 2020\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

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Aussie suffers amid weak jobs report.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the greenback and other currency pair have experience selling pressure during late Asian session after employment data showed weaker than expected reading. According to Australian Bureau of Statistics, unemployment rate in Australia have spiked to 7.1%, higher than market expectation of 7%. Besides that, employment change also came in at -227.7K, missing economist forecast of -125K. The month jobs report have poured cold water over market optimism. It is also validates the dovish stance from RBA and likely continue to pressure the sentiment for the Aussie. Apart from that, the ongoing coronavirus also exert some pressure towards the pair. As China record new cases of coronavirus, Beijing have undertook strict actions by cutting off air travels and restart lockdowns. At the time of writing, AUD\/USD slips 0.25% to 0.6866.<\/p>\n

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In the commodities market, crude oil price extend its retreat and fell 0.40% to $37.73 per barrel as of writing following demand concerns. As new cases recorded in China and EU, concerns towards weak demand continue to increase. Beijing have cancel its flights and shut schools while several U.S. states including Texas, Florida and California reported sharp increases in new cases and could potential recall lockdown that would dragged down the demand in the commodity usage. On the other hand, gold price edge higher 0.03% to $1725.13 a troy ounce at the time of writing amid heightening risk aversion in market due to second wave coronavirus.<\/p>\n

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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

15:30\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CHF\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0 SNB Monetary Policy Assessment<\/p>\n

16:00\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CHF\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0 SNB Press Conference<\/p>\n

19:00\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 BoE MPC Meeting Minutes<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
15:30<\/td>\nCHF – SNB Interest Rate Decision<\/td>\n-0.75%<\/td>\n-0.75%<\/td>\n–<\/td>\n<\/tr>\n
19:00<\/td>\nGBP – BoE Interest Rate Decision<\/td>\n0.10%<\/td>\n0.10%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n1,542K<\/td>\n1,277K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Philadelphia Fed Manufacturing Index (Jun)<\/td>\n-43.1<\/td>\n-25.0<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 96.90. MACD which illustrate bullish momentum signal suggest the pair to extend its gains toward the resistance level at 97.60.<\/p>\n

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Resistance level: 97.60, 98.35<\/p>\n

Support level: 95.95, 95.00<\/p>\n

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GBPUSD, Daily: <\/strong>GBPUSD was traded lower while currently testing the upward trend line. MACD which illustrate bearish momentum with the formation of death cross suggest the pair to extend its losses after it successfully breakout below the upward trend line.<\/p>\n

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Resistance level: 1.2585, 1.2720<\/p>\n

Support level: 1.2485, 1.2250<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1240. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses after it successfully breakout below the support level at 1.1240.<\/p>\n

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Resistance level: 1.1400, 1.1555<\/p>\n

Support level: 1.1240, 1.1115<\/p>\n

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USDJPY, Daily: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 107.15. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to undergo technical correction toward the resistance level at 107.15.<\/p>\n

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Resistance level: 107.15, 108.15<\/p>\n

Support level: 106.20, 104.80<\/p>\n

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AUDUSD, Daily: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.6945. MACD which display bearish bias momentum signal suggest the pair to extend its losses toward the support level at 0.6665.<\/p>\n

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Resistance level: 0.6945, 0.7225<\/p>\n

Support level: 0.6665, 0.6315<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the higher level.\u00a0 MACD which illustrate diminishing bullish momentum signal suggest the pair to undergo technical correction toward the support level at 0.6405.<\/p>\n

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Resistance level: 0.6565, 0.6735<\/p>\n

Support level: 0.6405, 0.6200<\/p>\n

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USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the lower level. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 1.3650.<\/p>\n

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Resistance level: 1.3650, 1.3830<\/p>\n

Support level: 1.3360, 1.3075<\/p>\n

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USDCHF, Daily: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9540. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to undergo technical correction toward the higher level.<\/p>\n

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Resistance level: 0.9540, 0.9625<\/p>\n

Support level: 0.9455, 0.9335<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 37.55. MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its losses after it successfully breakout below the support level at 37.55.<\/p>\n

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Resistance level: 39.25, 41.00<\/p>\n

Support level: 37.55, 35.60<\/p>\n

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GOLD_, H1: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1730.20. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement toward the support level at 1714.00.<\/p>\n

 <\/p>\n

Resistance level: 1730.20, 1743.20<\/p>\n

Support level: 1724.00, 1714.20<\/p>\n","protected":false},"excerpt":{"rendered":"

18 June 2020\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 suffers amid weak jobs report. The Australian dollar which traded against the greenback and other currency pair have experience selling pressure during late Asian session after employment data showed weaker than expected reading. According to Australian Bureau of Statistics, unemployment rate in Australia have spiked to 7.1%, […]<\/p>\n","protected":false},"author":25,"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\/126995"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=126995"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/126995\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=126995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=126995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=126995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}