AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the pair continues moving inside the uptrend and has almost reached the high at 0.8124. At the same time, we can see the divergence being formed, which may indicate a possible reverse and a correction. The targets of this possible correction are the retracements of 38.2%, 50.0%, and 61.8% at 0.7935, 0.7880, and 0.7820 respectively. However, the main trend is still bullish. If the instrument breaks the high at 0.8124, it may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.8360 and 0.8510 respectively.
As we can see at the H1 chart, the AUD/USD pair has started a new descending correction. The closest targets are the retracements of 23.6%, 38.2%, and 50.0% at 0.8005, 0.7935, and 0.7880 respectively.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the downtrend continues. The next downside targets are inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2270 and 1.2210 respectively. After that, the instrument may continue falling to break the low at 1.2060.
At the H1 chart, we can see the convergence being formed, which may indicate a possible ascending correction towards the retracements of 38.2% and 50.0% at 1.2368 and 1.2392 respectively.
RoboForex Analytical Department