{"id":219308,"date":"2021-12-29T04:07:43","date_gmt":"2021-12-29T04:07:43","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=219308"},"modified":"2021-12-29T04:07:43","modified_gmt":"2021-12-29T04:07:43","slug":"291221-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/291221-afternoon-session-analysis\/","title":{"rendered":"291221 Afternoon Session Analysis"},"content":{"rendered":"

29 December 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\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Aussie slumped amid rising Covid-19 cases.<\/strong><\/span><\/p>\n

The Australian Dollar retraced from its recent high following the spread of Covid-19 cases led to more restrictions globally, which spurring negative prospect toward the economic momentum. According to Reuters, Coronavirus cases have surged significantly across most of Australia region as New South Wales, Queensland and Victoria all reported record numbers on Wednesday. The daily Covid-19 case numbers in Australia almost doubled to 11,201. Victoria recorded 3,767 new cases of Covid-19 while Queensland recorded another 1,539 cases. The authorities are ruling out the lockdown restrictions though they have tightened some social restrictions. The spiking numbers of the Covid-19 will decrease the odds for the Reserve Bank of Australia to implement contractionary monetary policy in short-term basis, dragging down the appeal for the Australia Dollar. As of writing, AUD\/USD depreciated by 0.05% to 0.7225.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price depreciated by 0.26% to $76.11 per barrel as of writing over the backdrop of bearish inventory data. According to American Petroleum Institute (API), U.S. API Weekly Crude Oil stock came in at -3.090M, missing the market forecast at -3.233M. On the other hand, the gold price appreciated by 0.06% to $1807.45 per troy ounces as of writing amid raising concerns of the Covid-19 cases around the world had insinuated market demand on the safe-haven commodity.<\/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

N\/A<\/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
23:00<\/td>\nUSD – Pending Home Sales (MoM) (Nov)<\/td>\n7.5%<\/td>\n0.6%<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n-4.715M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower while currently near the support level at 95.65. However, MACD which illustrated increasing bullish momentum suggest the index to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 96.90, 97.50<\/p>\n

Support level: 95.65, 94.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.3355. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.3505.<\/p>\n

 <\/p>\n

Resistance level: 1.3505, 1.3630<\/p>\n

Support level: 1.3355, 1.3195<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1345. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1345, 1.1440<\/p>\n

Support level: 1.1235, 1.1175<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 114.20. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower in short-term as technical orrection.<\/p>\n

 <\/p>\n

Resistance level: 115.40, 116.80<\/p>\n

Support level: 114.20, 112.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior breakout above the resistance level at 0.7175. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.7365, 0.7535<\/p>\n

Support level: 0.7175, 0.6995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6825. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6825, 0.6920<\/p>\n

Support level: 0.6710, 0.6570<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently near the resistance level at 1.2840. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2840, 1.2935<\/p>\n

Support level: 1.2765, 1.2695<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9190. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9150.<\/p>\n

 <\/p>\n

Resistance level: 0.9260, 0.9315<\/p>\n

Support level: 0.9150, 0.9105<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 76.10. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 76.10, 79.00<\/p>\n

Support level: 72.65, 69.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1811.70. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 1786.30.<\/p>\n

 <\/p>\n

Resistance level: 1811.50, 1830.55<\/p>\n

Support level: 1786.30, 1762.20<\/p>\n

\u00a0<\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

29 December 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\u00a0 Afternoon Session Analysis Aussie slumped amid rising Covid-19 cases. The Australian Dollar retraced from its recent high following the spread of Covid-19 cases led to more restrictions globally, which spurring negative prospect toward the economic momentum. According to Reuters, Coronavirus cases have surged significantly across most of Australia region as New South […]<\/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\/219308"}],"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=219308"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/219308\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=219308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=219308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=219308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}