{"id":130371,"date":"2020-07-09T03:54:54","date_gmt":"2020-07-09T03:54:54","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=130371"},"modified":"2020-07-09T03:54:54","modified_gmt":"2020-07-09T03:54:54","slug":"090720-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090720-afternoon-session-analysis\/","title":{"rendered":"090720 Afternoon Session Analysis"},"content":{"rendered":"

09 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 slides amid China inflation data.<\/strong><\/span><\/p>\n

During late Asian session, the Aussie dollar which traded against the dollar and other currency pairs have fell following mixed inflation numbers from China. According to the National Bureau of Statistics of China, the producer price index (PPI) which measures the cost for goods at the factory fell by -3% in June, slightly better than market forecast of -3.2%. However, the data itself unable to provide any confidence boost for the market as it is still in a deflationary pressure. China\u2019s CPI also slipped to -0.1%, missing market expectation of 0%. Besides that, coronavirus in Australia also continue to weigh on the risk sentiment where Australia is struggling to tame the coronavirus. Following a sudden spike of coronavirus in the city of Victoria, Australia have reinforced back lockdowns on the city and closing the borders between Victoria and New South Wales in order to control the spread of the coronavirus. At the time of writing, AUD\/USD slips 0.08% to 0.6974.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price remains idle and edge lower by 0.02% to 40.74 per barrel as of writing following COVID-19 fears offset signs of recovery. Market sentiment remain struggling to get a strong conviction to the upside potential as several states in the U.S have raised the possibility of renewed lockdowns which could affect the fuel demand recovery. As of Wednesday, U.S reported more than 58,000 new cases which is the biggest increase ever reported by a country in a single day. On the other hand, gold price soars 0.09% to $1808.70 a troy ounce at the time of writing following increasing fears of coronavirus continue to push higher 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
20:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n1,427K<\/td>\n1,378K<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 96.90. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses toward the support level at 96.10.<\/p>\n

 <\/p>\n

Resistance level: 96.90, 97.55<\/p>\n

Support level: 96.10, 95.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.2625.\u00a0 MACD which illustrate bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 1.2625.<\/p>\n

 <\/p>\n

Resistance level: 1.2625, 1.2730<\/p>\n

Support level: 1.2525, 1.2435<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.1350. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains after it successfully breakout above the resistance level at 1.1350.<\/p>\n

 <\/p>\n

Resistance level: 1.1350, 1.1390<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 107.50. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses toward the support level at 106.95.<\/p>\n

 <\/p>\n

Resistance level: 107.50, 107.95<\/p>\n

Support level: 106.95, 106.35<\/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 illustrate diminishing bearish momentum 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 while currently testing the resistance level at 0.6580. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains after it successfully breakout above 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 while currently testing the support level at 1.3500. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it successfully breakout below 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 0.9380. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9430, 0.9475<\/p>\n

Support level: 0.9380, 0.9320<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the lower level. MACD which illustrate diminishing bearish bias momentum suggest the commodity to extend its gains toward higher level.<\/p>\n

 <\/p>\n

Resistance level: 41.35, 43.55<\/p>\n

Support level: 40.10, 39.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1823.80. MACD which illustrate bearish bias momentum suggest the pair to extend its losses toward the support level at 1800.00.<\/p>\n

 <\/p>\n

Resistance level: 1813.90, 1823.80<\/p>\n

Support level: 1800.00, 1786.25<\/p>\n","protected":false},"excerpt":{"rendered":"

09 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 slides amid China inflation data. During late Asian session, the Aussie dollar which traded against the dollar and other currency pairs have fell following mixed inflation numbers from China. According to the National Bureau of Statistics of China, the producer price index (PPI) which measures the cost […]<\/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\/130371"}],"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=130371"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/130371\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=130371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=130371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=130371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}