AUDUSD, “Australian Dollar vs US Dollar”
Probably, AUDUSD may try to reverse its tendency. In the daily chart, the convergence is being formed, which may indicate a possible uptrend in the nearest future. The possible targets of this ascending movement may be the retracements of 23.6%, 38.2%, and 50.0% at 0.7333, 0.7487, and 0.7611 respectively. The support level is the low at 0.7085.
As we can see in the H1 chart, the pair has reached the retracement of 38.2% and may continue growing towards the retracements of 50.0% and 61.8% at 0.7224 and 0.7257 respectively.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is forming a new descending impulse. Considering that the price is still forming its mid-term correction to the downside, the targets may be the retracements of 61.8% and 76.0% at 1.2855 and 1.2734 respectively. The support level is the low at 1.2887.
In the H1 chart, the pair is trading downwards to reach the retracement of 76.0% at 1.2968.
