Fibonacci Retracements Analysis 08.09.2017 (AUD/USD, USD/CAD)

AUD USD, “Australian Dollar vs US Dollar”

At the H4 chart, the uptrend continues. The AUD/USD pair broke the local high and right now is moving towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.8160 and 0.8225 respectively. The support level for the current movement at 0.7805.

At the H1 chart, the situation is the same. In the nearest future, the price may be corrected to return to the resistance level at 0.8066 that was broken earlier.

USD/CAD, “US Dollar vs Canadian Dollar”

As we can see at the H4 chart, the USD/CAD is still falling inside the downtrend and reaching new important targets. In the nearest future, the price may be corrected to the upside. The next target of the current downtrend may be the retracement of 261.8% at 1.1825.

At the H1 chart, the pair may be starting a new ascending correction. The targets of this correction may be the retracements of 23.6%, 38.2%, 50.0%, and 61.8% at 1.2200, 1.2285, 1.2360, and 1.2434 respectively. At the same time, the main target is one of the above-mentioned levels, the retracement of 61.8%.

RoboForex Analytical Department