Fibo Analysis: AUDUSD and USDCAD, 28/03/2019
AUDUSD
On H4, the AUDUSD is still correcting upwards, having already reached 50% Fibo. The next targets lie at 61.80% (0.7184) and 76% (0.7225), and then the high at 0.7295. The low at $0.7003 acts as a support.
On H1, the pair is forming a triangle. Once the consolidation channel resistance gets broken out, the price is likely to reach 61.80% (0.7183) and 76% (0.7225).
USDCAD
On H4, the USDCAD has reached 76% Fibo after a pullback. The price will be now heading towards the high at 1.3467. Once it gets broken out, the price will probably head to the area between 138.20% and 161.80% Fibo, or 1.3548 to 1.3600. The major support is meanwhile at the local low, or 1.3250.
On H1, the USDCAD is correcting, having already reached 38.20% Fibo and ready to go ahead to reach 50%, or 1.3351. The resistance is meanwhile at the high.
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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