AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the current correctional uptrend has already reached 50.0% fibo and may continue growing towards 61.8% and 76.0% fibo at 0.6928 and 0.6984 respectively. At the same time, there is a divergence on MACD, which may indicate a possible correction.
In the H1 chart, there is a divergence on MACD, which is making AUDUSD slow down the current rising tendency. Possibly, after reaching 61.8% at 0.6928, the price may start a pullback. The target of this pullback may be 23.6%, 38.2%, 50.0%, and 61.8% fibo at 0.6871, 0.6836, 0.6807, and 0.6779 respectively.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the divergence made USDCAD start a new descending wave, which has already reached 61.8% fibo. In the nearest future, the pair may start a new pullback. After completing the pullback, the instrument may resume falling towards 76.0% fibo at 1.3103 and then the low at 1.3015.
In the H1 chart, the pair is correcting after the convergence and has already reached 23.6% fibo. The next upside targets may be 38.2% and 50.0% fibo at 1.3229 and 1.3258 respectively. The support is the low at 1.3134.
