{"id":129743,"date":"2020-07-06T06:29:16","date_gmt":"2020-07-06T06:29:16","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=129743"},"modified":"2020-07-06T06:29:16","modified_gmt":"2020-07-06T06:29:16","slug":"060720-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/060720-afternoon-session-analysis\/","title":{"rendered":"060720 Afternoon Session Analysis"},"content":{"rendered":"

06 July 2020\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 stays bid amid upbeat data.<\/strong><\/span><\/p>\n

During late Asian session, the Aussie dollar which traded against the greenback and other currency pairs remains in bid following the positive release of second-tier data. According to The University of Melbourne – Faculty of Economics and Commerce, Australia\u2019s TD Securities Inflation grew more than prior with the reading of 0.7% against previous 0.1%. At the same time, ANZ Job Advertisements also surged by a huge margin with the reading of 42% against prior reading of 0.5%. On the other hand, market sentiment also taking hints from US President Donald Trump where he refrains to respect the latest surge in coronavirus numbers. The news which weigh on the dollar also help manage to provide boost on the Aussie. At the time of writing, AUD\/USD rose 0.29% to 0.6955.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price surged 1.78% to $40.34 per barrel as of writing despite the concerns of coronavirus. Recent, the US has reported the jump in virus cases by 50000 for the third consecutive day which raised questions over fuel demand recovery from the top oil consumer. However, upbeat economic data and news of vaccine development continue to support the price.<\/p>\n

On the other hand, gold price edge higher 0.03% to $1773.78 a troy ounce at the time of writing following weak dollar that fuel demand for the safe-haven commodity.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
22:00<\/td>\nUSD – ISM Non-Manufacturing PMI (Jun)<\/td>\n45.4<\/td>\n50.0<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower while currently testing the support level at 96.90. MACD which bearish bias momentum signal suggest the pair to extend its losses after it successfully breakout below the support level at 96.90.<\/p>\n

 <\/p>\n

Resistance level: 97.55, 98.75<\/p>\n

Support level: 96.90, 96.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2435. Due to lack of signal from MACD, it is suggested to wait for further confirmation before entering into the market.<\/p>\n

 <\/p>\n

Resistance level: 1.2525, 1.2625<\/p>\n

Support level: 1.2435, 1.2335<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.1285. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains after it successfully breakout above the resistance level at 1.1285.<\/p>\n

 <\/p>\n

Resistance level: 1.1285, 1.1320<\/p>\n

Support level: 1.1245, 1.1165<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound near the support level at 107.45. MACD which illustrate diminishing bearish momentum with the formation of golden cross signal suggest the pair to extend its gains toward the resistance level at 107.90.<\/p>\n

 <\/p>\n

Resistance level: 107.90, 108.35<\/p>\n

Support level: 107.45, 106.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.6810. MACD which display diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 0.7115.<\/p>\n

 <\/p>\n

Resistance level: 0.7115, 0.7295<\/p>\n

Support level: 0.6810, 0.6500<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6480. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 0.6580.<\/p>\n

 <\/p>\n

Resistance level: 0.6580, 0.6755<\/p>\n

Support level: 0.6480, 0.6380<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3675. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 1.3500.<\/p>\n

 <\/p>\n

Resistance level: 1.3675, 1.3865<\/p>\n

Support level: 1.3500, 1.3355<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9430. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses after it successfully breakout below the support level at 0.9430.<\/p>\n

 <\/p>\n

Resistance level: 0.9475, 0.9535<\/p>\n

Support level: 0.9430, 0.9380<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 39.15. MACD which illustrate bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 41.35.<\/p>\n

 <\/p>\n

Resistance level: 41.35, 43.75<\/p>\n

Support level: 39.15, 37.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1778.00. MACD which illustrate bearish bias momentum suggest the pair to extend its losses toward the support level at 1765.75.<\/p>\n

 <\/p>\n

Resistance level: 1778.00, 1788.05<\/p>\n

Support level: 1765.75, 1757.85<\/p>\n","protected":false},"excerpt":{"rendered":"

06 July 2020\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 stays bid amid upbeat data. During late Asian session, the Aussie dollar which traded against the greenback and other currency pairs remains in bid following the positive release of second-tier data. According to The University of Melbourne – Faculty of Economics and Commerce, Australia\u2019s TD Securities Inflation […]<\/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\/129743"}],"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=129743"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/129743\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=129743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=129743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=129743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}