AUD/USD
On H4, for AUD/USD we can see that the market is developing a flat correction trend. The targets of the correction growth are Fibonacci levels of 23.6% (0.7504), 38.2% (0.7625) and 50.0% (0.7723). With the current dynamics, the support is the minimum - 0.7310.
On H1, for AUD/USD we can see the beginning of a downward correction trend after the divergence. The correction has reached Fibonacci level of 23.6% and may continue developing until it reaches 38.2%-61.8%. The maximum of 0.7464 is the resistance.
USD/CAD
On H4, for USD/CAD we can see that the market has finished the local growth impulse and has continued the medium-term downtrend. Fibonacci Levels of 38.2% and 50.0% (1.2952 and 1.2818) may be the target levels for further descent.The level of 1.3290 is the resistance.
On H1, for USD/CAD we can see the downtrend directed at the post-correction extension range of 138.2-161.8% according to Fibonacci (1.2978-1.2924). Considering the development of convergence, we can assume the possibility of a pullback after the descent targets have been reached. The medium-term pullback targets may be the levels of 23.6% (1.3011), 38.2% (1.3064) and 50.0% (1.3108).
