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Fibonacci Retracements Analysis 09.07.2021 (AUDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the daily chart, there is a steady descending correctional wave after divergence on MACD, which is testing and trying to break 23.6%% fibo at 0.7415. The next downside targets may be 38.2% and 50.0% fibo at 0.7053 and 0.6757 respectively. The resistance is the high at 0.8007.

Fibonacci Retracements Analysis 09.07.2021 AUDUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart of AUDUSD shows convergence on MACD, which may indicate a possible pullback to the upside towards 23.6%, 38.2%, 50.0%, and 61.8% fibo at 0.7524, 0.7594, 0.7651, and 0.7707 respectively. A breakout of the low at 0.7410 will result in a further downtrend.

Fibonacci Retracements Analysis 09.07.2021 AUDUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after breaking 76.0% fib, USDCAD is approachi9ng the fractal high at 1.2654. The support remains at the low at 1.2007. At the same time, there is divergence on MACD, which may indicate a new pullback after the asset tests the high.

Fibonacci Retracements Analysis 09.07.2021 USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.2576 and 1.2632 respectively. The local support is at 1.2252.

Fibonacci Retracements Analysis 09.07.2021 USDCAD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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