Fibonacci Retracements Analysis 14.09.2017 (AUD/USD, USD/CAD)

AUD USD, “Australian Dollar vs US Dollar”

At the H4 chart, the AUD/USD pair is being corrected to the downside. The next possible targets of the uptrend may be the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.8160 and 0.8222 respectively. However, one shouldn’t exclude a possibility that the correction may transform into the long-term downtrend (due to the current divergence), because in this case the price may reach the retracement of 23.6% at 0.7947. probably, it’s just an intermediate test, but the test of the retracement of 38.2% at 0.7837 may confirm the theory about the reverse. The target will be the retracement of 50.0% at 0.7750.

At the H1 chart, the situation is pretty the same. By now, the pair has already been corrected to the downside by 61.8%. the next target of this correction is the retracement of 76.0% at 0.7837. However, if one takes into account the local convergence, one may assume that the pair may complete the correction and start a new ascending impulse. If the price breaks the local high at 0.8125, it may move the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.8181 and 0.8215 respectively.

USD/CAD, “US Dollar vs Canadian Dollar”

As we can see at the H4 chart, after reaching the targets, the USD/CAD pair stopped falling. In the nearest future, the price may be corrected to the upside. The targets of this correction may be in the area between the retracements of 23.6% and 61.8% at 1.2207 and 1.2431 respectively. The next target of the downtrend may be the retracement of 261.8% at 1.1825.

At the H1 chart, situation is quite similar.

RoboForex Analytical Department