AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after finishing the correctional downtrend close to the support at 23.6% fibo, AUDUSD is forming a new rising impulse to reach the local high. In the future, the impulse may break it and then continue growing towards mid-term 76.0% fibo at 0.6840 and the fractal high at 0.6894.
In the H1 chart, AUDUSD is trading upwards and testing 76.0% fibo. The next upside target is the high at 0.6810. The support is the blow at 0.67233.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the daily chart, USDCAD is forming a descending correction, which has already reached 61.8% fibo. The next targets are 76.0% at 1.3104 and then the key support at 1.3015. However, one shouldn’t exclude a possibility that the price may break the high at 1.3382. After that, the instrument may continue the ascending tendency towards the mid-term target, which is 76.0% fibo at 1.3433.
In the H4 chart, after completing a quick decline, the pair is correcting between 38.2% and 61.8% fibo. After finishing the correction, the instrument may resume falling towards 76.0 fibo at 1.3104.
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.