{"id":142929,"date":"2020-10-02T04:50:03","date_gmt":"2020-10-02T04:50:03","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=142929"},"modified":"2020-10-02T04:50:03","modified_gmt":"2020-10-02T04:50:03","slug":"021020-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/021020-afternoon-session-analysis\/","title":{"rendered":"021020 Afternoon Session Analysis"},"content":{"rendered":"

02 October 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Aussie slips as falling copper price weigh.<\/strong><\/span><\/p>\n

During late Asian session, the Aussie dollar which traded against the greenback and other currency pairs have slipped as one of Australia\u2019s key exports, copper showing sign of weakness weighing on the currency. According to reports, Comex copper futures fell by 5%, its biggest single-day percentage drop since March 18. At the same time, Bloomberg\u2019s commodity index also fell to 1-1\/2 month lows. As copper is also one of Australia\u2019s main export, the weakness in copper price exert pressure for the commodity-sensitive Aussie despite with recent upbeat data release, thus dragging the price lower. Still, market are now shifting their focus towards the upcoming NFP which could also weigh on the market sentiment. At the time of writing, AUD\/USD slips 0.22% to 0.7165.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price extend losses and plunged 0.98% to $38.18 per barrel at the time of writing amid worsening coronavirus risk threatening demand outlook. Following latest development, new COVID-19 cases worldwide have rose to more than 34 million, nearly 2 million more than at the end of last week, based on Reuters tallies. Several countries have already tighten restrictions and re-imposed lockdowns which prompting concerns about the impact on demand for fuel. On the other hand, gold price also retreats 0.49% to $1896.33 a troy ounce at the time of writing following dollar regain its strength.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Sep)<\/td>\n-0.2%<\/td>\n-0.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Nonfarm Payrolls (Sep)<\/td>\n1,371K<\/td>\n850K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Unemployment Rate (Sep)<\/td>\n8.4%<\/td>\n8.2%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower while currently testing the support level at 93.70. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 94.70, 96.05<\/p>\n

Support level: 93.70, 92.10<\/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 increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2725.<\/p>\n

 <\/p>\n

Resistance level: 1.2975, 1.3185<\/p>\n

Support level: 1.2725, 1.2560<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1760. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.1615.<\/p>\n

 <\/p>\n

Resistance level: 1.1760, 1.1880<\/p>\n

Support level: 1.1615, 1.1415<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior rebound from the support level at 105.40. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 106.70.<\/p>\n

 <\/p>\n

Resistance level: 106.70, 108.00<\/p>\n

Support level: 105.40, 104.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.7205. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.7145.<\/p>\n

 <\/p>\n

Resistance level: 0.7205, 0.7260<\/p>\n

Support level: 0.7145, 0.7110\"\"<\/p>\n

 <\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6510. 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, 0.7105<\/p>\n

Support level: 0.6510, 0.6265<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3290. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3395, 1.3525<\/p>\n

Support level: 1.3290, 1.3190<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9185. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.9275.<\/p>\n

 <\/p>\n

Resistance level: 0.9275, 0.9385<\/p>\n

Support level: 0.9185, 0.9075<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 38.05. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 39.25, 40.55<\/p>\n

Support level: 38.05, 37.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1909.35. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1852.15.<\/p>\n

 <\/p>\n

Resistance level: 1902.35, 1954.85<\/p>\n

Support level: 1852.15, 1813.70<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

02 October 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Aussie slips as falling copper price weigh. During late Asian session, the Aussie dollar which traded against the greenback and other currency pairs have slipped as one of Australia\u2019s key exports, copper showing sign of weakness weighing on the currency. According to reports, Comex copper futures fell by 5%, […]<\/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\/142929"}],"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=142929"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/142929\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=142929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=142929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=142929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}