AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the AUD/USD pair is moving downwards. After finishing the correction and breaking the low, the price entered the post-correctional extension area between the retracements of 138.2% and 161.8%. The next significant downside target is the retracement of 76.0% at 0.7520.
At the H1 chart, the situation is quite similar. We can see the divergence being formed, which indicates a possible pullback after the pair reaches its targets. The targets of this possible correction may be the retracements of 50.0% and 61.8% at 0.7606 and 0.7626 respectively.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the price has completed the correction and right now is starting a new ascending impulse. The targets of this uptrend is the current high at 1.2916. If the price breaks it, the instrument may resume growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3010 and 1.3070 respectively.
At the H1 chart, the situation is quite similar. The closest upside targets are the retracements of 61.8% and 76.0% at 1.2819 and 1.2854 respectively.
RoboForex Analytical Department