Article By RoboForex.com
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the daily chart, there is a new descending correctional wave after a divergence on MACD. After failing to reach 23.6%% fibo at 0.7415, the asset has corrected. The next downside targets may be 38.2% and 50.0% fibo at 0.7052 and 0.6757 respectively. The resistance is the high at 0.8007.
The H4 chart of AUDUSD shows a correctional uptrend after the previous descending wave, which has already reached 23,6% fibo and may later continue towards 38.2% and 50.0% fibo at 0.7636 and 0.7684 respectively. After completing the correction, AUDUSD may resume falling to break the support at 0.7478 and then continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 0.7395 and 0.7311 respectively. The local resistance is at 0.7891.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the daily chart, USDCAD is moving upwards after a convergence on MACD to reach 23.6%, 38.2%, 50.0%, 61.8%, and 76.0% fibo at 1.2636, 1.3023, 1.3336, 1.3649, and 1.4028 respectively. At the same time, there is a possibility that the price may break the low at 1.2007 and then continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.1068 and 1.0450 respectively.
The H4 chart shows a descending correction after the previous ascending impulse. The pair is heading towards 50.0% and 61.8% fibo at 1.2247 and 1.2190 respectively. After the pullback is over, the asset may resume growing to break the high at a.2487 and then reach 76.0% fibo and the fractal at 1.2499 and 1.2654 respectively.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- The situation in the Middle East remains uncertain May 22, 2026
- USD/JPY: Second Consecutive Week Closes Higher May 22, 2026
- Australia’s labor‑market data disappoint. New Zealand’s trade balance shows a record surplus May 21, 2026
- GBP/USD Recovers Amid UK Inflation Data: Positive Signals Emerge May 21, 2026
- The People’s Bank of China keeps lending rates unchanged. The Canadian dollar weakens amid falling inflation May 20, 2026
- EUR/USD Near Six-Week Low as Market Tensions Rise May 20, 2026
- Oil prices remain volatile. The Reserve Bank of Australia signals further rate hikes May 19, 2026
- Gold Recovers Some Losses: What’s Driving the Market? May 19, 2026
- Economic activity in China is slowing. Silver has fallen by more than 8% May 18, 2026
- USD/JPY Rises for Sixth Straight Day: Yen Back on the Cusp of Intervention May 18, 2026
