{"id":176986,"date":"2021-06-02T05:27:27","date_gmt":"2021-06-02T05:27:27","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=176986"},"modified":"2021-06-02T05:27:27","modified_gmt":"2021-06-02T05:27:27","slug":"020621-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/020621-afternoon-session-analysis\/","title":{"rendered":"020621 Afternoon Session Analysis"},"content":{"rendered":"

02 June 2021\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 surged over hawkish tone<\/strong><\/span><\/p>\n

Australia Dollar surged over the backdrop of hawkish statement from the Reserve Bank of Australia. According to statement by Philip Lowe, the central Bank have maintained its currency policy settings, which keeping its interest rate at 0.10%. Besides, he also speculated that the global economy in future will continue to recover from the pandemic and the outlook is for strong growth for the year 2021 and 2022. Global trade in goods has picked up strongly and commodity prices are mostly higher than at the start of the year, benefitting the export growth for the Australia. On top of that, Philip Lowe also reiterated that the economic recovery in Australia is stronger than earlier expected and is forecast to continue. This outlook is supported by fiscal measures and very accommodative financial conditions. Though, the uncertainty with regards of significant outbreaks of Covid-19 pandemic remain as the major concerned for all the monetary policy committee. As of writing, AUDUSD appreciated by 0.12% to 0.7763.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 0.26% to $68.15 per barrel as of writing. The oil market extends its gains amid the positive prospect for the Covid-19 vaccination program continue to outweigh the effect of the OPEC+ production increases. On the other hand, the gold price depreciated by 0.02% to $1900.90 per troy ounces amid bearish economic data from U.S. and U.K. region had spurred risk-off sentiment in the market, which insinuating market demand on the safe-haven commodity gold.<\/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

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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

N\/A<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

 <\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar remain traded in a sideway channel following recent rebound from the support level 89.55. However, MACD which illustrate diminishing bearish momentum signal suggest the dollar to extend its rebound in short term towards the resistance level 90.25.<\/p>\n

 <\/p>\n

Resistance level: 90.25, 90.75<\/p>\n

Support level: 89.55, 89.10<\/p>\n

 <\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD remain traded in a sideway channel following recent retracement from the resistance level 1.4210. However, MACD which illustrate bearish bias signal suggest the pair to extend its losses towards the support level 1.4100.<\/p>\n

 <\/p>\n

Resistance level: 1.4210, 1.4280<\/p>\n

Support level: 1.4100, 1.3990<\/p>\n

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EURUSD, H4: <\/strong>EURUSD remain traded flat in a sideway channel. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded lower in short term towards the support level 1.2175.<\/p>\n

 <\/p>\n

Resistance level: 1.2250, 1.2335<\/p>\n

Support level: 1.2175, 1.2065<\/p>\n

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\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing near the resistance level 109.70. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 109.70.<\/p>\n

 <\/p>\n

Resistance level: 109.70, 110.05<\/p>\n

Support level: 109.25, 108.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD remain traded in a sideway channel following recent rebound from its low level. However, MACD which illustrate bullish momentum signal suggest the pair to extend its rebound in short term towards the resistance level 0.7805.<\/p>\n

 <\/p>\n

Resistance level: 0.7805, 0.7885<\/p>\n

Support level: 0.7685, 0.7590<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD remain traded flat in a sideway channel. However, MACD which illustrate diminishing bearish bias signal suggest the pair to be traded higher towards the resistance level 0.7300.<\/p>\n

 <\/p>\n

Resistance level: 0.7300, 0.7445<\/p>\n

Support level: 0.7150, 0.7065<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remain traded in a sideway channel following recent rebound from the support level 1.2030. However, MACD which illustrate diminishing bearish momentum signal with the formation of golden cross suggest the pair to be extend its rebound in short term towards the resistance level 1.2140.<\/p>\n

 <\/p>\n

Resistance level: 1.2140, 1.2265<\/p>\n

Support level: 1.2030, 1.1925<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF remain traded in a sideway channel following recent rebound from the support level 0.8940. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher in a short term towards the resistance level 0.9020.<\/p>\n

 <\/p>\n

Resistance level: 0.9020, 0.9095<\/p>\n

Support level: 0.8940, 0.8875<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level 66.45. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower as a technical correction back towards the level 66.45.<\/p>\n

 <\/p>\n

Resistance level: 69.40, 72.35<\/p>\n

Support level: 66.45, 64.25<\/p>\n

 <\/p>\n

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GOLD_, H4: <\/strong>Gold price remain traded in a sideway channel following recent retracement from the resistance level 1911.05. MACD which illustrate bearish momentum signal suggest the commodity extend its retracement towards the support level 1886.35.<\/p>\n

 <\/p>\n

Resistance level: 1911.05, 1928.15<\/p>\n

Support level: 1886.35, 1853.85<\/p>\n","protected":false},"excerpt":{"rendered":"

02 June 2021\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 surged over hawkish tone Australia Dollar surged over the backdrop of hawkish statement from the Reserve Bank of Australia. According to statement by Philip Lowe, the central Bank have maintained its currency policy settings, which keeping its interest rate at 0.10%. Besides, he also speculated that the […]<\/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\/176986"}],"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=176986"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/176986\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=176986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=176986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=176986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}