AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the divergence made AUDUSD start a new descending correction, which is heading towards the retracements of 50.0%, 61.8%, and 76.0% at 0.7207, 0.7164, and 0.7110 respectively. After finishing the correction, the price may start a new rising impulse to break the current high at 0.7393 or even reach the mid-term retracement of 38.2% at 0.7447.
In the H1 chart, the pair is getting closer towards the retracement of 50.0% at 0.7207.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has reached the high at 1.3386; right now, the pair is testing it again. The next upside targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3615 and 1.3759 respectively. The support is at 1.3154.
In the H1 chart, the price is trading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3435 and 1.3483 respectively.
