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.
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.