AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the AUD/USD pair is trading upwards quite steadily. The targets of the current uptrend may be the retracements of 61.8% and 76.0% at 0.7886 and 0.7974 respectively. At the same time, the divergence that is being formed may indicate a possible correction after the price reaches its targets. The main correctional target may be the retracement of 50.0% at 0.7738.
At the H1 chart, the situation is similar and confirms the scenario described above.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD pair has reached the retracement of 50.0%. The next downside targets may be the retracements of 61.8^ and 76.0% at 1.2390 and 1.2269 respectively.
At the H1 chart, the pair is trading inside the downtrend. In addition to that, we can see the convergence being formed. Possibly, after reaching 1.2390, the instrument may start another correction with the targets at the retracements of 38.2% and 50.0% at 1.2593 and 1.2657 respectively.
RoboForex Analytical Department