AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the divergence made the pair complete its growth at 38.2% fibo and start a new descending movement. After finishing the correction, the instrument may continue its ascending tendency to reach the current high at 0.6929 and then mid-term 50.0% fibo at 0.6983.
The H1 chart shows more detailed structure of the current correction. By now, the descending wave has already reached 23.6% fibo and may yet continue towards 38.2%, 50.0% and 61.8% fibo at 0.6829, 0.6800, and 0.6769 respectively.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is forming a new ascending impulse after completing the correction at 50.0% fibo. If the pair breaks the high at 1.3208, the instrument may continue the bullish trend towards 61.8% and 76.0% fibo at 1.3230 and 1.3273 respectively.
In the H1 chart, the pair is getting close to the high at 1.3208.
