Fibonacci Retracements Analysis 26.11.2021 (AUDUSD, USDCAD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after breaking 76.0% fibo, AUDUSD is approaching the low at 0.7106, a breakout of which will result in a further downtrend to test or to break the long-term 38.2% fibo at 0.7052. The resistance is the local high at 0.7556.
The H1 chart of AUDUSD shows convergence on MACD, which may indicate a possible pullback towards 23.6%, 38.2%, and 50.0% fibo at 0.7213, 0.7278, and 0.7331 respectively. A breakout of the local low at 0.7106 will lead to a further downtrend.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after breaking 61.8% fibo, the mid-term rising wave in USDCAD continues moving towards 76.0% fibo at 1.2790. However, the key upside target is the high at 1.2949. Moreover, a breakout of the high will lead to a further uptrend to reach the long-term 38.2% fibo at 1.3022. The support is the low at 1.2288.
The H1 chart shows divergence on MACD. At the same time, the price is пакowing to reach 76.0% fibo at 1.2790. The support is 50.0% fibo at 1.2618.
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