Article By RoboForex.com
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, there is a steady descending movement towards 61.8% fibo at 0.7379. At the same time, we can see divergence on MACD, which may indicate a possible short-term pullback to the upside. In the future, this pullback may be followed by another descending wave to reach 76.0%% fibo at 0.7236. The resistance is the high at 0.8007.
The H1 chart of AUDUSD shows potential correctional targets convergence on MACD, which are 23.6%, 38.2%, and 50.0% fibo at 0.7524, 0.7594, and 0.7651 respectively. A breakout of the low at 0.7411 will result in a further downtrend.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
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.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after breaking 76.0% fib, USDCAD is approaching the fractal high at 1.2654. At the same time, there is divergence on MACD, which may indicate a new pullback. The support remains at the low at 1.2007.
The H1 chart shows potential correctional targets in more details. The targets are 23.6%, 38.2%, and 50.0% fibo at 1.2471, 1.2382, and 1.2310 respectively. The local resistance is at 1.2614.
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.
- Today, investors’ focus is on the PCE Price Index inflation report Apr 26, 2024
- Gold price recovers amid uncertain US economic outlook Apr 26, 2024
- This “Bullish Buzz” Reaches Highest Level in 53 Years Apr 26, 2024
- FastSpring and EBANX Forge Partnership to Expand Pix Payments for Digital Products in Brazil Apr 25, 2024
- Target Thursdays: NAS100, Robusta Coffee, USDCHF Apr 25, 2024
- QCOM wants to create competition in the AI chip market. Hong Kong index hits five-month high Apr 25, 2024
- Japanese yen hits all-time low as BoJ meeting commences Apr 25, 2024
- TSLA shares rose on a weak report. Inflationary pressures are easing in Australia Apr 24, 2024
- USDJPY: On intervention watch Apr 24, 2024
- Euro gains against the dollar amid mixed economic signals Apr 24, 2024