eTrader FX: Forex Week - June 28, 2010 until July 2, 2010

EUR / USD
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Pair weakened to 1.225 last week, then tersupport and moved up again to 1.237 at the weekend. Range predicted earlier in the week today at the level of 1.233 to 1.246. If 1.246 pierced, then the target of EUR / USD was at 1.252 and 1.267. 1.288 level will be a door to go to the range of 1.3 but it seems to still not be achieved within this week. Instead, through 1.233 will lead pair to 1.225 or even 1.215. Level 1.2 will also become a very important support. The weakening USD and an uncertain European developments seem to be making moves ranging pair early in the week.

GBP / USD
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GBP / USD rose sharply to 1.505 after the beginning of last week fell significantly to 1.478. GBP / USD earlier this week showed the potential for a bullish, if successfully shunned 1.505, then 1.513 will be the next target. Level of 1.553 and 1.583 will be the next target. Conversely, the level of support below is in the range 1.478 1.461 and 1.45. If penetrated, then 1.44 and the lowest level this year at 1.422 would be the next target. UK inflation problems and also potential GDP revised down an opportunity to make GBP weakened.

AUD / USD
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Early last week, the pair opened higher, but the pair moved down in the middle of the week and back up again. Beginning this week, the pair opened still in the range of movement last week. 0.88 level will still be acting as resistance, if pierced, the pair likely rise to 0.9. Conversely, the down side, there is support at the level of 0.874 and 0.836. AUD this week predicted would get support from the strengthening of the yuan and also started a political revival in Australia.

USD / CAD
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Pairs tend to be higher during trading last week, USD / CAD finally closed in the range of 1.035. 1.04 resistance level will be at the top, followed by 1.056 and 1.075. If the pair get momentum to rise above the 1.075 level of 1.1 will again be a target. Below, there is support at the 1.03 level, followed by 1.02. If you continue to fall, then the USD / CAD chance back below 1.0. Canada's Economy is better than America will continue to provide support for CAD.