Fibonacci Retracements Analysis 14.12.2017 (AUD/USD, USD/CAD)

14.12.2017

AUD USD, “Australian Dollar vs US Dollar”

At the H4 chart, after reaching the psychologically-crucial level at 0.7500, the AUD/USD pair formed the convergence and started a new ascending correction or maybe even a reverse. By now, the price has already been corrected by 23.6%. The next targets may be the retracements of 38.2%, 50.0%, and 61.8% at 0.7738, 0.7812, and 0.7886 respectively.

AUDUSD1

At the H1 chart, the pair is expected to start a new correction to the downside. The targets are the retracements of 23.6%, 38.2%, and 50.0% at 0.7646, 0.7628, and 0.7614 respectively. After breaking the high at 0.7675, the instrument may continue growing towards the targets from the H4 chart.

AUDUSD2

 

USD CAD, “US Dollar vs Canadian Dollar”

As we can see at the H4 chart, the USD/CAD pair hasn’t been able to break the resistance level at 1.2915. If the price finally breaks it, the instrument may move towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3027 and 1.3094 respectively.

USDCAD1

At the H1 chart, the divergence finished the uptrend and right now, the pair is being corrected. By now, the price has already been corrected by 38.2%. Later, the instrument may fall to reach the retracements of 50.0% and 61.8% at 1.2757 and 1.2725 respectively.

USDCAD2

 

RoboForex Analytical Department

 

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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.