AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the pair continues moving inside the uptrend. At the same time, we can see the divergence being formed, which may indicate a possible reverse. The targets of this possible descending movement are the retracements of 23.6%, 38.2%, and 50.0% at 0.7900, 0.7822, and 0.7761 respectively. However, if the current uptrend continues, the instrument may break the high at 0.8022 and then reach 0.8091.
At the H1 chart, the AUD/USD pair completed the short-term ascending impulse and started a new correction to the downside, which has already reached the retracement of 38.2%. The next target is the retracement of 50.0% at 0.7900.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the downtrend has been corrected by 38.2%. The correction may yet continue; the targets are the retracements of 50.0% and 61.8% at 1.2637 and 1.2703 respectively. After breaking the low at 1.2355, the instrument may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2264 and 1.2210 respectively.
At the H1 chart, the situation is similar and confirms the scenario described above.
RoboForex Analytical Department