{"id":252866,"date":"2022-06-22T00:51:37","date_gmt":"2022-06-22T00:51:37","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=252866"},"modified":"2022-06-22T00:51:37","modified_gmt":"2022-06-22T00:51:37","slug":"220622-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/220622-morning-session-analysis\/","title":{"rendered":"220622 Morning Session Analysis"},"content":{"rendered":"

22 June 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

US Dollar rallied after upbeat data was released.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currencies edged up on Tuesday after the bullish economic data was unleashed. According to National Association of Realtors, the US Existing Home Sales for May came in at the reading of 5.41M while exceeding the market forecast of 5.39M. The data used to measure the change in the annualized number of existing residential buildings that were sold during the previous month. The higher-than-expected reading indicated that the recovery in US housing market, which brought positive prospects toward the economic progression in US. Besides, the slump of Japanese Yen was had also spurred further bullish momentum on the US Dollar. Bank of Japan keep remaining its ultra-loose monetary policy would likely to diminish the risk-free return of investors in Japan, which prompted the shift their capitals toward other currencies which having better prospects such as US Dollar. As of writing, the Dollar Index depreciated by 0.29% to 104.18.<\/p>\n

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In the commodities market, crude oil price eased by 0.37% to $109.12 per barrel as of writing. Nonetheless, the overall trend of oil price remained bullish following the high summer fuel demand while supplies remained tight because of sanctions on Russian oil. On the other hand, gold price depreciated by 0.33% to $1832.90 per troy ounce as of writing amid the surging of US Dollar.<\/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

N\/A<\/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

21:30\u00a0\u00a0\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 Fed Chair Powell Testifies<\/p>\n

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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
14:00<\/td>\nGBP – CPI (YoY) (May)<\/td>\n9.0%<\/td>\n9.1%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
20:30<\/td>\nCAD – Core CPI (MoM) (May)<\/td>\n0.7%<\/td>\n0.4%<\/td>\n–<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher following prior rebound from the support level. However, MACD which illustrated decreasing bullish momentum suggest the index to be traded lower as technical correction.<\/p>\n

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Resistance level: 104.80, 105.90<\/p>\n

Support level: 103.65, 102.50<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the support level. MACD which illustrated decreasing bullish momentum suggest the pair to extend its losses.<\/p>\n

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Resistance level: 1.2270, 1.2360<\/p>\n

Support level: 1.2190, 1.2080<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level. MACD which illustrated decreasing bullish momentum suggest the pair to extend its losses.<\/p>\n

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Resistance level: 1.0530, 1.0605<\/p>\n

Support level: 1.0450, 1.0385<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level. However, MACD which illustrated decreasing bullish momentum suggest the pair to be traded lower as technical correction.<\/p>\n

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Resistance level: 137.35, 138.60<\/p>\n

Support level: 136.00, 135.05<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level. However, MACD which illustrated decreasing bullish momentum suggest the pair to be traded lower as technical correction.<\/p>\n

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Resistance level: 0.7005, 0.7075<\/p>\n

Support level: 0.6930, 0.6850<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses.<\/p>\n

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Resistance level: 0.6350, 0.6405<\/p>\n

Support level: 0.6295, 0.6235<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level. MACD which illustrated decreasing bearish momentum suggest the pair to extend its gains if successfully breakout the resistance level.<\/p>\n

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Resistance level: 1.2940, 1.3030<\/p>\n

Support level: 1.2875, 1.2800<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains if successfully breakout the resistance level.<\/p>\n

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Resistance level: 0.9675, 0.9740<\/p>\n

Support level: 0.9595, 0.9520<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level. MACD which illustrated decreasing bullish momentum suggest the commodity to extend its losses.<\/p>\n

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Resistance level: 111.25, 115.40<\/p>\n

Support level: 106.95, 102.20<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses if successfully breakout the support level.<\/p>\n

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Resistance level: 1841.85, 1855.50<\/p>\n

Support level: 1829.90, 1819.70<\/p>\n","protected":false},"excerpt":{"rendered":"

22 June 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis US Dollar rallied after upbeat data was released. The Dollar Index which traded against a basket of six major currencies edged up on Tuesday after the bullish economic data was unleashed. According to National Association of Realtors, the US Existing Home Sales for May came in at the reading […]<\/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\/252866"}],"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=252866"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/252866\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=252866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=252866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=252866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}