AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the divergence made the pair complete its growth at 38.2% fibo and start a new descending movement. After finishing the correction, the instrument may continue its ascending tendency to reach the current high at 0.6929 and then mid-term 50.0% fibo at 0.6983.
The H1 chart shows more detailed structure of the current correction. By now, the descending wave has already reached 23.6% fibo and may yet continue towards 38.2%, 50.0% and 61.8% fibo at 0.6829, 0.6800, and 0.6769 respectively.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is forming a new ascending impulse after completing the correction at 50.0% fibo. If the pair breaks the high at 1.3208, the instrument may continue the bullish trend towards 61.8% and 76.0% fibo at 1.3230 and 1.3273 respectively.
In the H1 chart, the pair is getting close to the high at 1.3208.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.