AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the daily chart, after plummeting towards 76.0% fibo, AUDUSD is starting a new pullback, which is confirmed by the convergence on MACD. One of the targets is 61.8% fibo at 0.6833. After completing the pullback, the pair may continue falling to reach the long-term low at 0.6547.
In the H4 chart, the convergence made AUDUSD start a new correction to the upside, which has already reached 23.6% fibo and may continue towards 38.2% and 50.0% fibo at 0.6831 and 0.6880 respectively. The support is the low at 0.6677.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after breaking 50.0% fibo, the uptrend couldn’t reach 61.8% fibo at 1.3355. At the same time, there is a convergence on MACD, which is making USDCAD start a new decline. The first target is 23.6% fibo at 1.3266; the next ones – 38.2%, 50.0%, 61.8%, and 76.0% fibo at 1.3219, 1.3180, 1.3141, and 1.3095 respectively. The key target is the low at 1.3015.
In the H1 chart, USDCAD is trading downwards to reach 23.6% fibo at 1.3266.
