AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after being corrected by 38.2%, AUDUSD has started a new impulse to the downside. Later, the price may break the low at 0.7310 and then continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7243 and 0.7020 respectively. However, the correctional uptrend may yet continue. The possible upside targets may be the retracements of 50.0%, 61.8%, and 76.0% at 0.7494, 0.7537, and 0.7589 respectively.
In the H1 chart, the pair is trading downwards and has already reached the retracement of 61.8%. The next downside target may be the retracement of 76.0% at 0.7353.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after being corrected by 50.0%, USDCAD has started a new impulse to the upside with the target at 1.3386. After breaking this level, the instrument may continue trading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3507 and 1.3583 respectively
In the H1 chart, the pair is being corrected to the upside and has already reached the retracement of 50.0%. The next target may be the retracements of 61.8% and 76.0% at 1.3260 and 1.3307 respectively.
