Fibo Analysis: AUD/USD and USD/CAD, 27.09.2018
AUD/USD
On H4, the ascending trend on AUDUSD has stopped for a while. The nearest uptrend targets are 23.6% (0.7333) and 38.2% (0.7487), with the low at 0.7085 being the current support.
On H1, the AUD/USD is forming a correctional downtrend after the divergence. The correction reached 38.2% Fibo and may reach 50.0% (0.7200), 61.8% (0.7173), and 76.0% (0.7140).
USD/CAD
On H4, the USDCAD is uptrending after pulling back to 38.2% Fibo. The rising impulse is pushing the price back to 23.6% Fibo (1.3117). The major target of this rise is however the high at $1.3386. The downtrend may yet continue, with the targets at 50.00% and 61.80% Fibo (1.2818 and 1.2683, respectively).
On H1, the USDCAD is uptrending towards 1.3117.
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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