AUD/USD
In the H4 chart, the pair is correcting upwards after completing the descending wave. A smooth-running rising impulse gives the impression that the asset is heading towards the high at 0.7414. After breaking it, the price may reach the long-term 76.0% fibo at 0.7503. However, as long as the pair hasn’t tested the high, which acts as the resistance, a more probable scenario implies that AUD/USD may continue trading downwards after the divergence on MACD. The first downside target is 23.6% fibo at 0.6963. After breaking it, the instrument may fall to reach 38.2% fibo at 0.6686.
The H1 chart shows a more detailed structure of the current correctional wave after a convergence on MACD, which has already reached 50.0% and may continue towards 61.8 and 76.0% fibo at 0.7215 and 0.7264 respectively. The current uptrend is looking pretty stable but one can see a divergence being formed on MACD, which may indicate that the growth is over. The support is the low at 0.7006.
USD/CAD
As we can see in the H4 chart, the convergence on MACD made the pair start a new uptrend, which, after reaching 23.6% fibo, is now correcting to the downside. After the pullback is over, the next upside target will be 38.2% fibo at 1.3634. The support is the fractal low at 1.2994.
The H1 chart shows a more detailed structure of the current descending movement after a divergence, which has already broken 23.6% fibo and may continue towards 38.2%, 50.0%, and 61.8% fibo at 1.3257, 1.3206, and 1.3157 respectively. If the price breaks the high at 1.3420, the correction will be over and then the instrument may continue its mid-term growth.