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Fibonacci Retracement Analysis for 13.08.2021 (AUDUSD, USDCAD)

AUDUSD, "Australian Dollar vs US Dollar"

On D1, the market keeps trying to get over 23.6% Fibo and secure below this level. This might mean that the market is confidently entering a bearish phase after lengthy growth and a divergence on the MACD. Further aims of the decline will be 38.2% (0.7052), 50.0% (0.6758), and 61.8% (0.6464). The main resistance remains at the high of 0.8007.

Fibonacci Retracement Analysis for 13.08.2021 AUDUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H4, there is minor correctional growth after a convergence on the MACD. The quotations have risen to 23.6% (0.7431) and tested the level. The next goals of the ascending movement might be 38.2% (0.7519) and 50.0% (0.7590) Fibo. A breakaway of the low of 0.7289 will mean the quotations have returned to the descending movement.

Fibonacci Retracement Analysis for 13.08.2021 AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, "US Dollar vs Canadian Dollar"

On H4, there is an ascending correction still, while the quotations are getting ready for another impulse of decline. The quotations are testing 38.2% Fibo for the second time, trying to break through it. This breakaway will let the market continue the medium-term uptrend to 50.0% (1.2407), 61.8% (1.2313), and 76.0% (1.2200). The main support remains at the low of 1.2007, and the resistance - at the fractal 1.2807.

Fibonacci Retracement Analysis for 13.08.2021 USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, the ascending correction tested 38.2% Fibo twice after a convergence. Howevee, 23.6% acted as a strong support level, which gives a chance for new growth to 50.0% (1.2615) and 61.8% (1.2660). The support level is the low of 1.2422.

Fibonacci Retracement Analysis for 13.08.2021 USDCAD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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