{"id":247846,"date":"2022-05-30T04:04:53","date_gmt":"2022-05-30T04:04:53","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=247846"},"modified":"2022-05-30T04:04:53","modified_gmt":"2022-05-30T04:04:53","slug":"300522-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/300522-afternoon-session-analysis\/","title":{"rendered":"300522 Afternoon Session Analysis"},"content":{"rendered":"

30 May 2022\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

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Upbeat retail sales spurred the bullish trend in Australian dollar.<\/strong><\/span><\/p>\n

The Australian dollar, which is widely traded by the global investors, surged following the release of upbeat economic data from the region. Prior to that, the pair of AUD\/USD managed to recoup part of its losses as the possibility of pause in the US rate hike dragged the appeal of dollar index. The bullish momentum of AUD\/USD has been extended further after Australian Bureau of Statistics (ABS) released its retail sales data. According to the institution, the Australian retail sales data jumped to another record level in April, where the data came in at 0.9%, similar to the expectation of consensus. Upbeat economic data underscored the recovery of consumer spending in Australia in the post-pandemic period. At this juncture, majority of the investors are eyeing on the upcoming crucial data such as GDP to gauge the further direction of Australian dollar. As of writing, the pair of AUD\/USD rose 0.22% to 0.7175.<\/p>\n

In the commodities market, crude oil prices are up by 0.83% to $116.15 per barrel as of writing as the start of driving season in the United States is expected to boost the overall demand for the oil products. Besides, gold price up 0.23% to $1,858.90 per troy ounce amid the weakness of dollar index.<\/p>\n

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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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 United States – Memorial Day<\/p>\n

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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 \u00a0EUR\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 EU Leaders Summit<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level. MACD which illustrated diminishing bullish momentum suggest the index to be traded lower toward a lower level.<\/p>\n

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Resistance level: 101.75, 102.30<\/p>\n

Support level: 100.95, 99.80<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2585. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward the resistance level at 1.2700.<\/p>\n

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Resistance level: 1.2700, 1.2825<\/p>\n

Support level: 1.2585, 1.2425<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains.<\/p>\n

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Resistance level: 1.0770, 1.0660<\/p>\n

Support level: 1.0695, 1.0640<\/p>\n

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USDJPY, Daily: <\/strong>USDJPY was traded lower while currently testing the support level. However, MACD which illustrated diminishing bearish momentum suggest the pair to be extend its gains toward the resistance level at 128.80.<\/p>\n

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Resistance level: 128.80, 131.35<\/p>\n

Support level: 126.95, 125.05<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.7120. However, MACD which illustrated bullish momentum suggest the pair to extend its gains toward the resistance level at 0.7260.<\/p>\n

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Resistance level: 0.7260, 0.7345<\/p>\n

Support level: 0.7120, 0.7035<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6520. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.6595.<\/p>\n

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Resistance level: 0.6595, 0.6715<\/p>\n

Support level: 0.6520, 0.6430<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2715. However, MACD which illustrated decreasing bearish momentum suggest the pair to undergo technical correction in short term.<\/p>\n

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Resistance level: 1.2775, 1.2835<\/p>\n

Support level: 1.2715, 1.2660<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9590. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9520.<\/p>\n

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Resistance level: 0.9590, 0.9665<\/p>\n

Support level: 0.9520, 0.9450<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 116.50. MACD which illustrated bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level at 116.50.<\/p>\n

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Resistance level: 116.50, 119.00<\/p>\n

Support level: 113.50, 110.70<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1850.00. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward the resistance level at 1871.65.<\/p>\n

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Resistance level: 1871.65, 1893.40<\/p>\n

Support level: 1850.00, 1830.00<\/p>\n","protected":false},"excerpt":{"rendered":"

30 May 2022\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     Upbeat retail sales spurred the bullish trend in Australian dollar. The Australian dollar, which is widely traded by the global investors, surged following the release of upbeat economic data from the region. Prior to that, the pair of AUD\/USD managed to recoup part of its losses as […]<\/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\/247846"}],"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=247846"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/247846\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=247846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=247846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=247846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}