{"id":128808,"date":"2020-06-30T06:26:24","date_gmt":"2020-06-30T06:26:24","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=128808"},"modified":"2020-06-30T06:26:24","modified_gmt":"2020-06-30T06:26:24","slug":"300620-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/300620-afternoon-session-analysis\/","title":{"rendered":"300620 Afternoon Session Analysis"},"content":{"rendered":"

30 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

 <\/p>\n

Upbeat China data keeping Aussie afloat.<\/strong><\/span><\/p>\n

The Aussie dollar which traded against the dollar and other currency pairs have manage to hold its ground during late Asian session after the release of positive data from China. According to China Federation of Logistics and Purchasing, the NBS Manufacturing PMI have improved to 50.9, surpassed market expectation with the reading of 50.4. Besides that, China\u2019s Non-Manufacturing PMI also crossed above previous reading of 53.6, with the results came in at 54.4. The data manage to help the Aussie stay directed for a short term however risk-on influence may limit the positivity towards the upside momentum following the worsening condition of coronavirus. World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus stated on earlier that the pandemic is speeding up. Dr. Tedros also mentioned that the \u201cthe worst is yet to come\u201d. At the time of writing, AUD\/USD edge higher 0.06% to 0.6873.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price retreats 0.24% to $39.39 per barrel as of writing following heightening concerns of COVID-19 weigh on market. As global coronavirus death have surpassed half a million, some countries like UK have stated to re-impose lockdown while other regions are still grappling with the first wave. On the other hand, gold price remains stable and edge higher by 0.03%to 1771.74 a troy ounce at the time of writing following broad risk-aversion which prompting investors to increase their bets on safe-haven 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

 <\/p>\n

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\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nGBP \u2013 GDP (QoQ) (Q)<\/td>\n-2.0%<\/td>\n-2.0%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Jun)<\/td>\n0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 GDP (MoM) (Apr)<\/td>\n-7.2%<\/td>\n-12.0%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 CB Consumer Confidence (Jun)<\/td>\n86.6<\/td>\n91.6<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index remain traded in a sideway channel while currently testing near the resistance level 97.55. However, due to lack of momentum from MACD, it is suggested to wait until further signal appear before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 97.55, 98.80<\/p>\n

Support level: 95.90, 94.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following recent breakout below the previous support level 1.2340. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to experience a short term technical correction towards the current resistance level 1.2340.<\/p>\n

 <\/p>\n

Resistance level: 1.2340, 1.2510<\/p>\n

Support level: 1.2165, 1.1995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded flat while currently testing the support level 1.1225. MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower after it breaks below the support level 1.1225.<\/p>\n

 <\/p>\n

Resistance level: 1.1390, 1.1505<\/p>\n

Support level: 1.1225, 1.1090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level 108.00. MACD which illustrate bullish momentum signal suggest the pair to extend its gains towards the resistance level 108.00.<\/p>\n

 <\/p>\n

Resistance level: 108.00, 108.60<\/p>\n

Support level: 107.40, 106.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD remain traded in a sideway channel while currently testing near the support level 0.6820. However, MACD which illustrate bullish momentum with the starting formation of golden cross suggest the pair to be traded higher towards the resistance level 0.7020.<\/p>\n

 <\/p>\n

Resistance level: 0.7020, 0.7195<\/p>\n

Support level: 0.6820, 0.6680<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD remain traded flat in a sideway channel. Due to lack of clear direction and momentum from MACD, it is suggested to wait until further signal appear before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 0.6490, 0.6580<\/p>\n

Support level: 0.6370, 0.6235<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remain traded in a sideway channel while currently testing near the resistance level 1.3685. However, MACD which illustrate diminishing bullish momentum signal with the starting formation of death cross suggest the pair to be traded lower as a pullback towards the support level 1.1385.<\/p>\n

 <\/p>\n

Resistance level: 1.3645, 1.3820<\/p>\n

Support level: 1.3485, 1.3330<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF remain traded in a sideway channel following prior rebound from the support level 0.9460. However, MACD which illustrate bullish momentum suggest the pair to extend its momentum towards the resistance level 0.9545.<\/p>\n

 <\/p>\n

Resistance level: 0.9545, 0.9650<\/p>\n

Support level: 0.9460, 0.9365<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price remain traded in a sideway channel while currently testing near the resistance level 40.45. However, MACD which illustrate bullish momentum signal suggest the commodity to be traded higher after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 40.45, 43.85<\/p>\n

Support level: 35.05, 31.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded flat while currently testing near support level 1764.25. However, MACD which illustrate bearish bias signal with the formation of death cross suggest the commodity to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1795.80, 1825.25<\/p>\n

Support level: 1764.25, 1736.80<\/p>\n","protected":false},"excerpt":{"rendered":"

30 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   Upbeat China data keeping Aussie afloat. The Aussie dollar which traded against the dollar and other currency pairs have manage to hold its ground during late Asian session after the release of positive data from China. According to China Federation of Logistics and Purchasing, the NBS Manufacturing PMI […]<\/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\/128808"}],"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=128808"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/128808\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=128808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=128808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=128808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}