Fibonacci Retracements Analysis 30.11.2017 (AUD/USD, USD/CAD)

AUD USD, “Australian Dollar vs US Dollar”

At the H4 chart, after the convergence the AUD/USD pair started a new correction, which has already reached the retracement of 23.6%. The next targets if this ascending correction may be the retracements of 38.2%, 50.0%, and 61.8% at 0.7670, 0.7714, and 0.7756 respectively. However, if the price breaks the low at 0.7533, the instrument may reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7490 and 0.7463 respectively.

At the H1 chart, the pair is trading downwards to reach the low at 0.7533.

USD CAD, “US Dollar vs Canadian Dollar”

As we can see at the H4 chart, the price is forming the ascending impulse, which may break the high at 1.2916 and continue towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3010 and 1.3071 respectively.

At the H1 chart, the current uptrend is moving towards 1.2916. Taking into account the divergence that is being formed, the price is expected to be corrected to the downside to reach the retracements of 38.2% and 50.0% at 1.2825 and 1.2798 respectively.

RoboForex Analytical Department