Fibo Analysis: AUDUSD and USDCAD, 21/03/2019
AUDUSD
On H4, the AUDUSD is forming a rising move after converging, which has already reached 50% Fibo. The next targets lie at 61.80% (0.7183) and 76% (0.7225), and then 0.7295. The low at $0.7003 acts as a support.
On H1, one can see the pair rising to 61.80% (0.7183) and 76% (0.7225) in detail.
USDCAD
On H4, the USDCAD is correcting down after a rising move. When the pullback is over, the price is likely to rise again to reach 76% Fibo, or 1.3521, and then the high at 1.3665. The major support is meanwhile at the low, 1.3068.
On H1, the price is correcting after the convergence. The pair has reached 38.20% Fibo and may hit 50%, or $1.3358, and 61.80%, or $1.3384. The local support is near the low of 1.3250.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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