AUD/USD
In the H4 chart, after breaking the high at 0.7064, AUD/USD has reached the long-term 61.8% fibo at 0.7129 and right now is trying to fix there. Later, the market may continue moving towards 76.0% fibo at 0.7503. At the same time, the MACD indicator is forming a divergence, which may hint at a possible correction to the downside soon. The closest correctional target may be 50.0% fibo at 0.6820.
The H1 chart shows another ascending impulse, which is trying to re-enter the post-correctional extension area between 138.2% and 161.8% fibo at 0.7174 and 0.7241 respectively. One should also pay attention to a local divergence and a possible pullback. In this case, the downside targets may be 23.6%, 38.2%, and 50.0% fibo at 0.7111, 0.7058, and 0.7104 respectively. The local resistance is the high at 0.7197.
USD/CAD
As we can see in the H4 chart, USD/CAD is heading to break the low at 1.3315 but doesn’t seem to be strong enough to succeed. There is a local convergence on MACD, which may indicate a new rising impulse towards the resistance at 1.3715. At the same time, the instrument may yet break the low and then continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.3164 and 1.3066 respectively and then the fractal low at 1.2951.
The H1 chart shows a slow decline towards the low at 1.3315 along with a convergence on MACD. If the pair corrects to the upside, the closest target will be the resistance at 61.8% fibo (1.3468). In case the price fixes above this level, the instrument may continue trading upwards to reach 1.3715.