AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the AUD/USD pair is still correcting the previous downtrend. The closest target is the retracement of 61.8% at 0.8003. The current ascending movement impulse may break the local high at 0.8065. After breaking it, the instrument may continue moving towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.8163 and 0.8220 respectively. The main support level for the current movement is close to the local low at 0.7807.
As we can see at the H1 chart, the price has broken the local highs. The closest upside target is at 0.8003. the next target may be the retracement of 161.8% at 0.8021.
USD/CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD is forming the descending impulse. The downside target is close to the local low at 1.2413. The next targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2275 and 1.2190 respectively.
At the H1 chart, the pair is forming the convergence. After reaching the local targets, the price may be corrected by 38.2% and 50.0% towards 1.2550 and 1.2595 respectively.
RoboForex Analytical Department