AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the AUD/USD pair is being corrected to the upside and has already reached the retracement of 38.2%. The next targets of this correction are the retracement of 50.0% and 61.8% at 0.7754 and 0.7786 respectively. After finishing the correction, the instrument may break the local low at 0.7624 and then fall towards the retracement of 76.0% at 0.7520.
At the H1 chart, the situation is quite similar.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the price has been corrected to the upside by 50.0%. The next upside target may be close to the retracements of 61.8% at 1.3130. In the nearest future, the pair is expected to be corrected downwards.
At the H1 chart, the USD/CAD pair is being corrected to the downside. The correction has already the retracement of 23.6% and may continue falling towards the retracements of 38.2%, 50.0%, and 61.8% at 1.2739, 1.2683, and 1.2630 respectively. The uptrend may resume only if the instrument breaks the local high at 1.2916.
RoboForex Analytical Department