Fibo Analysis: AUDUSD and USDCAD, 28/03/2019

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.

AUDUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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).

AUDUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

USDCAD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

USDCAD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.