Article By RoboForex.com
AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the AUD/USD pair is moving downwards. After finishing the correction and breaking the low, the price entered the post-correctional extension area between the retracements of 138.2% and 161.8%. The next significant downside target is the retracement of 76.0% at 0.7520.
At the H1 chart, the situation is quite similar. We can see the divergence being formed, which indicates a possible pullback after the pair reaches its targets. The targets of this possible correction may be the retracements of 50.0% and 61.8% at 0.7606 and 0.7626 respectively.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the price has completed the correction and right now is starting a new ascending impulse. The targets of this uptrend is the current high at 1.2916. If the price breaks it, the instrument may resume growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3010 and 1.3070 respectively.
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At the H1 chart, the situation is quite similar. The closest upside targets are the retracements of 61.8% and 76.0% at 1.2819 and 1.2854 respectively.
RoboForex Analytical Department
Article By RoboForex.com
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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.