Fibonacci Retracements Analysis 13.09.2018 (AUDUSD, USDCAD)
AUDUSD, “Australian Dollar vs US Dollar”
Probably, AUDUSD may try to reverse its tendency. In the daily chart, the convergence is being formed, which may indicate a possible uptrend in the nearest future. The possible targets of this ascending movement may be the retracements of 23.6%, 38.2%, and 50.0% at 0.7333, 0.7487, and 0.7611 respectively. The support level is the low at 0.7085.
As we can see in the H1 chart, the pair has reached the retracement of 38.2% and may continue growing towards the retracements of 50.0% and 61.8% at 0.7224 and 0.7257 respectively.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is forming a new descending impulse. Considering that the price is still forming its mid-term correction to the downside, the targets may be the retracements of 61.8% and 76.0% at 1.2855 and 1.2734 respectively. The support level is the low at 1.2887.
In the H1 chart, the pair is trading downwards to reach the retracement of 76.0% at 1.2968.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.