AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the convergence made AUDUSD start a new pullback, which was very close to 38.2% fibo at 0.6831 several times, but hasn’t reached it yet. After breaking this level, the pair may continue growing towards 50.0% fibo at 0.6880. When the correction is over, the instrument may break the local support at 0.6677 and then continue falling to reach the long-term low at 0.6547.
In the H1 chart, AUDUSD has been corrected to the downside by 50.0%. Right now, the pair is forming a new rising impulse towards the local high at 0.6822.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after reaching 50.0% fibo at 1.3180, USDCAD has rebounded towards the high. If the pair breaks it, the price may continue trading to reach 61.8% and 76.0% fibo at 1.3355 and 1.3433 respectively. Otherwise, the instrument may resume falling towards 50.0%, 61.8%, and 76.0% fibo at 1.3180, 1.3141, and 1.3095 respectively. The key target is the low at 1.3015.
In the H1 chart, USDCAD is trading upwards to reach the high at 1.3345. If the price breaks the high in the nearest future, the instrument may continue growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.3407 and 1.3445 respectively.
Back to listAttention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.