{"id":187093,"date":"2021-07-22T06:30:17","date_gmt":"2021-07-22T06:30:17","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=187093"},"modified":"2021-07-22T06:44:57","modified_gmt":"2021-07-22T06:44:57","slug":"220721-afternoon-session-analysis-2","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/220721-afternoon-session-analysis-2\/","title":{"rendered":"220721 Afternoon Session Analysis"},"content":{"rendered":"

21 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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Aussie fell following increasing covid cases.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the dollar and other currency pairs remains pressured and fell as Australia covid infections hit 10 months high and triggering concerns for Australia\u2019s economy recovery. Following latest development, Australia\u2019s New South Wales have recorded the highest daily infections at 122 since the outbreak began in June. With the coronavirus situation escalate in the NSW, neighboring states such as Queensland have already planned to close its border to NSW and reimposed social distancing rules. New South Wales Premier Gladys Berejiklian also warned that the number of cases could go even higher. On data front, downbeat data also further added selling pressure for the pair. The NAB Business Confidence for the second quarter have eased to 17, lower than market expectation of 21. At the time of writing, AUD\/USD fell 0.11% to 0.7345.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.11% to $70.01 per barrel as of writing despite with a surprise build in U.S oil inventories. According to EIA, crude oil inventories rose 2.108 million barrels, completely opposite from market expectation with a decrease of -4.466 million barrels. Despite that, market remains hopeful and continue to bet on fuel consumption recovery. On top of that, JPMorgan also expect the crude oil demand will hover at 99.6 million barrels per day which is higher than the first quarter. On the other hand, gold price slips 0.31% to $1797.95 a troy ounce at the time of writing following dollar rebound.<\/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

19.45\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 Monetary Policy Statement<\/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 \u00a0ECB Press Conference<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\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
19.45<\/td>\nEUR – Deposit Facility Rate (Jul)<\/td>\n-0.50%<\/td>\n-0.50%<\/td>\n–<\/td>\n<\/tr>\n
19.45<\/td>\nEUR – ECB Marginal Lending Facility<\/td>\n0.25%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
19.45<\/td>\nEUR – ECB Interest Rate Decision (Jul)<\/td>\n0.00%<\/td>\n0.00%<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n360K<\/td>\n350K<\/td>\n–<\/td>\n<\/tr>\n
22.00<\/td>\nUSD \u2013 Existing Home Sales (Jun)<\/td>\n5.80M<\/td>\n5.90M<\/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 the support level 92.65. MACD which illustrate bearish momentum signal with the recent formation of death cross suggest the dollar to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 93.10, 93.45<\/p>\n

Support level: 92.70, 92.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing near the resistance level 1.3735. MACD which illustrate bullish bias signal with the recent formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3735, 1.3890<\/p>\n

Support level: 1.3575, 1.3470<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level 1.1785. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 1.1880.<\/p>\n

 <\/p>\n

Resistance level: 1.1880, 1.1950<\/p>\n

Support level: 1.1785, 1.1705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level 110.40. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 109.70.<\/p>\n

 <\/p>\n

Resistance level: 110.40, 111.00<\/p>\n

Support level: 109.70, 109.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level 0.7340. MACD which illustrate bullish momentum signal with the recent formation of golden cross suggest the pair to extend its gains towards the resistance level 0.7415.<\/p>\n

 <\/p>\n

Resistance level: 0.7415, 0.7485<\/p>\n

Support level: 0.7340, 0.7245<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level 0.6925. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.7000.<\/p>\n

 <\/p>\n

Resistance level: 0.7000, 0.7075<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level 1.2565. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 1.2675.<\/p>\n

 <\/p>\n

Resistance level: 1.2675, 1.2770<\/p>\n

Support level: 1.2565, 1.2470<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level 0.9195. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses towards 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

\u00a0<\/strong><\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing near the resistance level 70.85. MACD which illustrate bullish bias signal suggest the commodity to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 70.85, 74.60<\/p>\n

Support level: 68.40, 66.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing near the support level 1792.10. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1814.80, 1831.85<\/p>\n

Support level: 1792.10, 1762.20<\/p>\n","protected":false},"excerpt":{"rendered":"

21 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 Afternoon Session Analysis   Aussie fell following increasing covid cases. The Australian dollar which traded against the dollar and other currency pairs remains pressured and fell as Australia covid infections hit 10 months high and triggering concerns for Australia\u2019s economy recovery. Following latest development, Australia\u2019s New South Wales have recorded the highest […]<\/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\/187093"}],"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=187093"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/187093\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=187093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=187093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=187093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}