Article By RoboForex.com
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after breaking the low and reaching 38.2% fibo, the descending wave has been followed by a new pullback. After the pullback is over, AUDUSD may resume trading downwards to reach the post-correctional extension area between 138.2% and 161.8% fibo at 0.6934 and 0.6830 respectively, and then the long-term 50.0% fibo at 0.6758.
The H1 chart shows a more detailed structure of the current correction. The first wave has reached 23.6% fibo, while the next one may be heading towards 38.2%, 50.0%, and 61.8% fibo at 0.7206, 0.7273, and 0.7339 respectively. The support is the low at 0.6991.
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.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
USDCAD
As we can see in the H4 chart, divergence on MACD made the pair stop its growth at 76.0% fibo and start a new correctional downtrend. The next upside target is still the high at 1.2949. Moreover, a breakout of the high will lead to a further uptrend to reach the long-term 38.2% fibo at 1.3022. The support remains the low at 1.2288.
In the H1 chart, the decline reached 38.2% fibo after divergence on MACD, but was later followed by local convergence and a new decline. However, it doesn’t exclude a possibility of another descending impulse towards 50.0% and 61.8% fibo at 1.2571 and 1.2505 respectively. A breakout of the local resistance at 1.2854 will result in a further uptrend.
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 Middle East conflict is already driving inflation higher across the world Apr 24, 2026
- Gold Falls Nearly 3.0% Over the Week Amid Geopolitical Pressure Apr 24, 2026
- The diplomatic deadlock between the US and Iran is undermining investors’ appetite for risk Apr 23, 2026
- EUR/USD Falls for Third Day as Geopolitics and Strong Dollar Dictate Terms Apr 23, 2026
- Negotiations between the US and Iran have failed. Oil prices are back above 90 dollars per barrel Apr 22, 2026
- USD/JPY Pulls Higher: Yen Doubts Bank of Japan Apr 22, 2026
- NZD and CAD strengthen amid rising inflationary pressure Apr 21, 2026
- Pound Declines Amid Geopolitics and Political Risks Apr 21, 2026
- EUR/USD Starts the Week Higher, but the Outlook Remains Unstable Apr 20, 2026
- The situation in the Strait of Hormuz remains uncertain Apr 20, 2026
