AUD/USD
On the H4-chart of AUD/USD pair the uptrend continues. In the short term, a downward tendency can be expected which can bring the pair to 38.2% Fibo level. This level corresponds to 0,7831 mark. Then the price can climb higher to reach 50.0% Fibo level (0.7737). After the correction occurs, the main tendency can continue and form a new impulse. This one will have a target (0.8172 level) as a post-correction 261.8% Fibo elongation. But the 161.8% Fibo level can be the nearest target for this upward move (0.8056 mark).
The H1-chart of AUD/USD pair confirms the picture of the senior time frame. Therefore, after having achieved the 23.6% Fibo level, the current descending move can be elongated towards 0.7831 level - 38.2% Fibo mark. However, if a new high is hit, the 0.8056 mark can become a new significant local target.
USD/CAD
On the H4-chart of USD/CAD pair a convergence is being formed, and this suggests a possible growth as a correction. In addition, the price is moving closer to significant long-term level 1.2460. All the above factors suggest a possible reversal or a correction move. The levels 1,2730 (23,6%), 1,2885 (38,2%) and 1,3015 (50,0%) can serve as possible targets for this correction move.
The H1-chart of USD/CAD pair confirms the dynamics of the senior time frames. In the short term, the convergence points to a possible correction to move higher to reach 1.2606, 1.2676 and 1.2739 which correspond to 23,6%, 38,2% and 50,0% Fibo levels.
