AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after breaking the previous low, AUDUSD has reached 61.8% fibo. Right now, the pair is forming a new short-term correction towards the resistance at 50.0% fibo at 0.6921. After finishing the correction, the price may continue falling. The closest downside targets may be the post-correctional extension area between 138.2% and 161.8% fibo at 0.6806 and 0.6768 respectively, and then 76.0% fibo at 0.6727.
In the H1 chart, AUDUSD is being corrected upwards and has already reached 38.2% fibo. In the future, the growth may continue towards 50.0% and 61.8% fibo at 0.6926 and 0.6949 respectively.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after completing the long-term pullback, USDCAD is forming another descending wave. Right now, the pair is testing the previous low. The targets of the current decline are 76.0% fibo at 1.3188, the post-correctional extension area between 138.2% and 161.8% fibo at 1.3168 and 1.3121 respectively, and the key long-term low at 1.3068. The resistance is at 1.3432.
In the H1 chart, the pair is steadily trading downwards to reach 76.0% fibo at 1.3188.
