AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the AUD/USD pair is trading upwards; it has reached the retracement of 50.0% at 0.7812. The next upside targets may be the retracements of 61.8% and 76.0% at 0.7887 and 0.7976 respectively. The support level is at 0.7648.
At the H1 chart, we can see the uptrend and the divergence. The pair has already reached the retracement of 261.8%. The next target may be the retracement of 423.6, which is very close to the targets from the H4 chart.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD pair has returned to the retracement of 38.2% at 1.2590. The next target of this descending correction may be the retracement of 50.0% at 1.2491. The resistance level is still at 1.2920.
At the H1 chart, the pair may finish the downtrend soon as we can see the convergence being formed. The targets of the ascending correction may be the retracements of 23.6%, 38.2%, and 50.0% at 1.2670, 1.2725, and 1.2757 respectively.
RoboForex Analytical Department