{"id":183109,"date":"2021-07-02T06:03:09","date_gmt":"2021-07-02T06:03:09","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=183109"},"modified":"2021-07-02T06:03:09","modified_gmt":"2021-07-02T06:03:09","slug":"020721-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/020721-afternoon-session-analysis\/","title":{"rendered":"020721 Afternoon Session Analysis"},"content":{"rendered":"

2 July 2021\u00a0\u00a0\u00a0\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

Aussie plunged following Covid update.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the greenback and other currency pairs have continue to extend its decline for the fifth consecutive days following rising concerns on COVID-19 situation in the Australia. According to latest data, Australia\u2019s most populous state, New South Wales have reported 31 new cases on Friday, the biggest daily rise for 2021. The total infections have grown to more than 200 since the first cases was detected more than two weeks ago. The state also warned its residents to brace for further increase in Covid-19 infections over the next few days. At the same time, vaccination in the Australia also slowed due to frequent changes in medical advice for AstraZeneca and the Australis\u2019 national cabinet is set to meet on today to discuss the level of vaccination. At the time of writing, AUD\/USD slips 0.05% to 0.7465.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.33% to $75.45 per barrel at the time of writing following disagreement within the OPEC and its allies. Following latest development, United Arab Emirates have blocked a deal at the last minute which causing the alliance to put off its decision on monthly decision. The decision would end with OPEC not increasing any output and production remain unchanged until April 22. On the other hand, gold price fell 0.06% to $1778.22 a troy ounce at the time of writing following rising dollar.<\/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

20:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB President Lagarde Speaks<\/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
20:30<\/td>\nUSD – Nonfarm Payrolls (Jun)<\/td>\n559K<\/td>\n700K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Unemployment Rate (Jun)<\/td>\n5.80%<\/td>\n5.70%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level 92.25. MACD which illustrate ongoing bullish momentum signal suggest the dollar to extend its gains towards the resistance level 92.70.<\/p>\n

 <\/p>\n

Resistance level: 92.70, 93.05<\/p>\n

Support level: 92.25, 91.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level 1.3785. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to experience a short-term technical correction towards the resistance level 1.3830.<\/p>\n

 <\/p>\n

Resistance level: 1.3830, 1.3935<\/p>\n

Support level: 1.3755, 1.3675<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level 1.1850. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher as a technical correction towards the resistance level 1.1920.<\/p>\n

 <\/p>\n

Resistance level: 1.1920, 1.1985<\/p>\n

Support level: 1.1850, 1.1785<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level 111.60. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a technical correction towards the support level 111.00.<\/p>\n

 <\/p>\n

Resistance level: 111.60, 112.20<\/p>\n

Support level: 111.00, 110.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded flat while currently testing the resistance level 0.7475. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher as a technical correction after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7475, 0.7545<\/p>\n

Support level: 0.7395, 0.7330<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level 0.7010. MACD which illustrate bearish bias signal suggest the pair to extend its retracement towards the support level 0.6925.<\/p>\n

 <\/p>\n

Resistance level: 0.7010, 0.7075<\/p>\n

Support level: 0.6925, 0.6825<\/p>\n

 <\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level 1.2420. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level 1.2420.<\/p>\n

 <\/p>\n

Resistance level: 1.2505, 1.2560<\/p>\n

Support level: 1.2420, 1.2350<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded flat while currently testing near the support level 0.9245. 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: 0.9310, 0.9355<\/p>\n

Support level: 0.9245, 0.9195<\/p>\n

 <\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher following recent breakout above the previous resistance level 74.20. MACD which illustrate diminishing bullish momentum signal suggest the commodity to experience a technical correction towards the support level 74.20.<\/p>\n

 <\/p>\n

Resistance level: 76.30, 78.75<\/p>\n

Support level: 74.20, 72.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level 1767.55. MACD which illustrate bullish momentum signal suggest the commodity to extend its gains towards the resistance level 1812.10.<\/p>\n

 <\/p>\n

Resistance level: 1812.10, 1856.00<\/p>\n

Support level: 1767.55, 1725.50<\/p>\n

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

2 July 2021\u00a0\u00a0\u00a0\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 plunged following Covid update. The Australian dollar which traded against the greenback and other currency pairs have continue to extend its decline for the fifth consecutive days following rising concerns on COVID-19 situation in the Australia. According to latest data, Australia\u2019s most populous state, New South Wales have […]<\/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\/183109"}],"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=183109"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/183109\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=183109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=183109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=183109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}