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EUR / USD
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Last week the pair started the movement with a huge gap. However, the pair then moved down significantly, and finally closed at around 1.236. The movement this week is predicted to be the same as last week, with a relatively weak euro against the USD. Below the target level was 1.233, 1.22, and 1.206. If it still continues to fall, then the pair will potentially move under 1.2. Meanwhile, there was resistance at the level of 1.24 and 1.252. If impregnable will open the door of recovery towards 1.3. Euro likely continue to be depressed, until a clear solution to the debt problem countries, the European Zone.
GBP / USD
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GBP / USD also moved down significantly to 1.453 last week. Pair expected to go down like last week, sentiment against the GBP is still positive. Moreover, the European debt problem bad for some British banks. Predictable target movement is in support if pierced the 1.44 and 1.413 and 1.395 would be targeted. Major support at 1.35 which is the lowest point in 2009. Meanwhile, at the top, 1.478 will be the resistance, followed by the 1.505 level.
AUD / USD
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Like the EUR / USD and GBP / USD, AUD / USD is also a significant move down last week and finally closed at around 0.885. AUD is fundamentally still strong, but the panic that hit global stock markets kept investors reduce their investment and choose a safe haven. Resistance for the AUD / USD is in 0.9 at the beginning of this week, when pierced by the .914 and .922 will be the next target. On the down side, if the pair can penetrate to 0.88 then 0.857 will be the target, followed by .823.
USD / CAD
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Same with the AUD, CAD actually has good fundamentals, but the panic of investors makes the USD / CAD moves up. Pair the range of 1.033 to close at the end of last week, after earlier touching a level of 1.01. Earlier this week, the range is between 1.02, and 1.04. If 1.02 impregnable, then 1.01 will return as the target. If it still continues to fall, then back below potential pairs of 1.0. Conversely, at the top, if 1.04 impregnable, then 1.068 will be the next resistance. A very strong resistance at 1.078 but it seems to not be touched at this time.
Written by surabayaforex.com
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