Article By RoboForex.com
AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the AUD/USD pair is correcting the previous downtrend. After reaching the retracement of 50.0%, the price may continue the correction towards the one of 61.8% at 0.8003. The current movement may start a new ascending impulse, but this scenario will be confirmed only after the price breaks the local high at 0.8065. The targets of this possible impulse may be the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.8163 and 0.8220 respectively. However, one shouldn’t exclude a possibility that the instrument still may be corrected to the downside. After breaking the local low at 0.7807, the price may reach the retracement of 61.8% at 0.7760.
At the H1 chart, the price is moving sideways. After breaking 0.7966, the pair may move towards the targets from the H4 chart. However, if the pair breaks the low at 0.7868, the instrument may fall to reach the lows from the same timeframe.
USD/CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD has been corrected to the downside by 61.8%. The next target is near the retracement of 76.0% at 1.2500. The important local low is at 1.2412. If the price breaks the local high at 1.2780, the instrument may move towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2880 and 1.2940 respectively.
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At the H1 chart, the pair is forming the convergence and starting a new ascending correction. The targets of this correction are the retracements of 38.2%, 50.0%, and 61.8% at 1.2622, 1.2652, and 1.2684 respectively.
RoboForex Analytical Department
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.
