AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after AUDUSD is being corrected to the downside. The targets are the retracements of 23.6%, 38.2%, and 50.0% at 0.7073, 0.6972, and 0.6890 respectively. After finishing the correction, the instrument may forma another ascending wave to break the current resistance at 0.7235 and then continue growing to reach the retracement of 50.0% at 0.7340.
In the H1 chart, AUDUSD is steadily trading downwards. The closest target may be the retracement of 23.6% at 0.7073. At the same time, there is a convergence on MACD, which indicates a possible pullback after the instrument reaches the target. The resistance is the high at 0.7235.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the pair is forming a new ascending correction, which has already reached the retracement of 38.2%. The next target may be the retracement of 50.0% at 1.3422. If the price breaks the low at 1.3180, the instrument may fall towards the mid-term retracement of 61.8% at 1.3122.
In the H1 chart, the correctional uptrend continues towards the retracement of 50.0% at 1.3422. At the same time, there is a divergence on MACD, which indicates a possible reverse in the future.
