{"id":178359,"date":"2021-06-09T05:34:30","date_gmt":"2021-06-09T05:34:30","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=178359"},"modified":"2021-06-09T05:34:30","modified_gmt":"2021-06-09T05:34:30","slug":"090621-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090621-afternoon-session-analysis\/","title":{"rendered":"090621 Afternoon Session Analysis"},"content":{"rendered":"

09 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 slips amid increasing concerns over China.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the dollar and other currency pairs have fell from its recent high after reports of China plans to control coal price. According to reports from Reuters, China is considering to impose a cap on the thermal coal as it struggles to contain the high energy cost ahead of peak demand. As Australia is one of the main thermal coal exporters in the world, the move will escalate further tension in between Australia and China. Previously, Australia supported a call for a global inquiry into China\u2019s handling of Covid-19, thus causing relationships between the two countries begin to sour. Beijing has since taken several measures restricting Australian imports, ranging from levying tariffs to imposing other bans and restrictions. At the time of writing, AUD\/USD fell 0.05% to 0.7733.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price soars 0.66% to $70.48 per barrel as of writing following optimism towards fuel demand outlook. U.S. crude oil supply data from the American Petroleum Institute showed a drop of 2.108 million barrels for the week ending June 4, better than market expectation of a 3.576 million increase. On top of that, various countries such as U.S, France, Canada and Germany have lowered travel warnings for certain countries which making it possible to loosen airline restrictions for trips overseas. On the other hand, gold price edge higher 0.04% to 1893.59 a troy ounce at the time of writing following weakness in dollar.<\/p>\n

 <\/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

Tentative\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 CAD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoC Press Conference<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
22:00<\/td>\nCAD – BoC Interest Rate Decision<\/td>\n0.25%<\/td>\n0.25%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL -Crude Oil Inventories<\/td>\n-5.080M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 90.15, 90.50<\/p>\n

Support level: 89.70, 89.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1.4195, 1.4275<\/p>\n

Support level: 1.4100, 1.4020<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded flat near the support level 1.2160. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2240, 1.2335<\/p>\n

Support level: 1.2160, 1.2070<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded flat after recent breakout above the previous resistance level 109.40. However, MACD which display bullish bias signal with the formation of golden cross suggest the pair to be traded higher towards the resistance level 109.75.<\/p>\n

 <\/p>\n

Resistance level: 109.75, 110.30<\/p>\n

Support level: 109.40, 109.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD remain traded in a sideway channel following recent retracement from the resistance level 0.7765. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to be traded lower towards the support level 0.7695.<\/p>\n

 <\/p>\n

Resistance level: 0.7765, 0.7805<\/p>\n

Support level: 0.7695, 0.7650<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level 0.7225. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to extend its retracement towards the support level 0.7135.<\/p>\n

 <\/p>\n

Resistance level: 0.7225, 0.7310<\/p>\n

Support level: 0.7135, 0.7065<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remain traded in a sideway channel while currently testing near the resistance level 1.2125. However, MACD which illustrate bullish momentum signal suggest the pair to be traded higher after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2125, 1.2175<\/p>\n

Support level: 1.2035, 1.1970<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following recent retracement from its high level. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 0.8935.<\/p>\n

 <\/p>\n

Resistance level: 0.8985, 0.9040<\/p>\n

Support level: 0.8935, 0.8890<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil was traded higher following prior breakout above the previous resistance level 70.10. MACD which illustrate bullish bias signal with the formation of golden cross suggest the commodity to extend its gains towards the resistance level 72.30.<\/p>\n

 <\/p>\n

Resistance level: 72.30, 74.20<\/p>\n

Support level: 70.10, 68.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remain traded flat in a sideway channel while currently testing near the support level 1885.35. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1913.75, 1937.35<\/p>\n

Support level: 1885.35, 1856.05<\/p>\n","protected":false},"excerpt":{"rendered":"

09 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 slips amid increasing concerns over China. The Australian dollar which traded against the dollar and other currency pairs have fell from its recent high after reports of China plans to control coal price. According to reports from Reuters, China is considering to impose a cap on 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\/178359"}],"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=178359"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/178359\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=178359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=178359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=178359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}