AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has already been corrected downwards by 23.6%. The next downside targets may be the retracements of 38.2% and 50.0% at 0.7008 and 0.6922 respectively. However, another possible scenario implies that the decline has already been over, so the pair may start a new rising impulse to break the high at 0.7295 and then continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7386 and 0.7442 respectively.
In the H1 chart, AUDUSD is growing to reach the retracements of 38.2%, 50.0%, and 61.8% at 0.7146, 0.7174, and 0.7203 respectively.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the uptrend has slowed down. The next rising wave will be heading towards the retracement of 50.0% and 61.8% at 1.3363 and 1.3436 respectively. However, the long-term downtrend may yet continue. The instrument may break the support at 1.3068 and then continue falling towards the retracements of 38.2% and 50.0% at 1.3052 and 1.2865 respectively.
In the H1 chart, the price is being corrected downwards and has already reached the retracement of 50.0%. The next target is the retracement of 61.8% at 1.3268.
