AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the previous ascending movement was corrected only by 23.6%. The new rising impulse has already broken the high and may continue towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7899 and 0.7916 respectively. At the same time, we can see the divergence being formed.
At the H1 chart, the AUD/USD pair is being corrected downwards. The targets of this correction may be the retracements of 38.2%, 50.0%, and 61.8% at 0.7856, 0.7847, and 0.7838 respectively.
USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, the descending correction reached the retracement of 61.8%. After that, the convergence was formed and the price started moving upwards. The targets of this growth may be the retracements of 50.0%, 61.8%, and 76.0% at 1.2639, 1.2705, and 1.2785 respectively. If the price breaks the high at 1.2920, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3135 and 1.3267 respectively.
As we can see at the H1 chart, the pair is steadily trading inside the uptrend to reach 1.2539 and 1.2705.
RoboForex Analytical Department