{"id":184503,"date":"2021-07-09T05:58:11","date_gmt":"2021-07-09T05:58:11","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=184503"},"modified":"2021-07-09T05:58:11","modified_gmt":"2021-07-09T05:58:11","slug":"090721-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090721-afternoon-session-analysis\/","title":{"rendered":"090721 Afternoon Session Analysis"},"content":{"rendered":"

9 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

 <\/p>\n

Aussie fell amid downbeat China data.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the dollar and other currency pairs remains pressured and fell after recent release of weak China inflation data. According to the National Bureau of Statistics of China, China\u2019s CPI have fell to 1.1%, weaker than market expectation of 1.3%. While PPI came in line with market expectation of 8.8%, the reading was down from previous reading of 9%. On top of that, Covid-19 woes in Australia also added further burden for the Aussie. Australia\u2019s covid infections have jumped to three days high on July 08 and pushes authorities to rule out unlock any time soon. Recently, New South Wales (NSW) Premier, Gladys Berejiklian stated that the Aussie state will continue to tighten lockdown, hard to see opening by next Friday. She also stated that NSW is facing the biggest challenge we have faced since the pandemic started. At the time of writing, AUD\/USD fell 0.15% to 0.7415.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose extend gains and rose 0.11% to $72.96 per barrel as of writing following prospect of robust demand. Following reports from EIA, a gauge of fuel demand surged to 10 million barrels a day in the week leading up to the July 4th holiday. On the other hand, gold price rose 0.16% to $1805.38 a troy ounce at the time of writing amid dollar weakness.<\/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

18:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoE Gov Bailey Speaks<\/p>\n

18:00\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 \u00a0ECB President Lagarde Speaks<\/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
14:00<\/td>\nGBP – GDP (MoM)<\/td>\n2.30%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Manufacturing Production (MoM) (May)<\/td>\n-0.30%<\/td>\n1.00%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD – Employment Change (Jun)<\/td>\n-68.0K<\/td>\n175.0K<\/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 was traded lower while currently testing near the support level 92.25. MACD which illustrate bearish bias signal suggest the dollar to extend its losses after it breaks below the support level.<\/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 near the support level 1.3750. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher as a technical correction towards the resistance level 1.3885.<\/p>\n

 <\/p>\n

Resistance level: 1.3885, 1.3990<\/p>\n

Support level: 1.3750, 1.3675<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing near the resistance level 1.1850.\u00a0 MACD which illustrate bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 1.1850.<\/p>\n

 <\/p>\n

Resistance level: 1.1850, 1.1920<\/p>\n

Support level: 1.1765, 1.1705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level 109.75. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 110.30.<\/p>\n

 <\/p>\n

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

Support level: 109.75, 109.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing near the support level 0.7395. MACD which illustrate bearish bias signal suggest the pair to extend its losses after it breaks below the support 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 while currently testing near the support level 0.6925. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses after it breaks below 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

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level 1.2560. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower as a technical correction towards the support level 1.2490.<\/p>\n

 <\/p>\n

Resistance level: 1.2560, 1.2640<\/p>\n

Support level: 1.2490, 1.2420<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing near the support level 0. 9135.MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level 0.9135.<\/p>\n

 <\/p>\n

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

Support level: 0.9135, 0.9090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level 71.15. MACD which illustrate diminishing bearish momentum signal with the formation of golden cross suggest the commodity to extend its rebound towards the resistance level 74.20.<\/p>\n

 <\/p>\n

Resistance level: 74.20, 76.35<\/p>\n

Support level: 71.15, 68.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level 1812.10. However, MACD which illustrate bearish bias signal suggest the commodity to extend its losses towards the support level 1767.55.<\/p>\n

 <\/p>\n

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

Support level: 1767.55, 1725.50<\/p>\n","protected":false},"excerpt":{"rendered":"

9 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 fell amid downbeat China data. The Australian dollar which traded against the dollar and other currency pairs remains pressured and fell after recent release of weak China inflation data. According to the National Bureau of Statistics of China, China\u2019s CPI have fell to 1.1%, weaker than market […]<\/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\/184503"}],"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=184503"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/184503\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=184503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=184503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=184503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}