AUD/USD
In the daily chart, after breaking the long-term 61.8% fibo, AUD/USD has been able to fix above this level; right now, it continues growing very slowly. In addition to that, the MACD indicator is forming a divergence, which may hint at a possible correction to the downside soon. The next downside correctional target may be the support not far from 50.0% fibo at 0.6818.
As we can see in the H4, the asset is still testing the upside border of the post-correctional extension area between 138.2% and 161.8% fibo at 0.7174 and 0.7241 respectively. Considering the divergence on MACD, such a long-running test of the above-mentioned area may hint at a new decline soon. The short-term downside target may be the previously broken fractal high at 0.7064.
USD/CAD
As we can see in the H4 chart, after breaking the low at 1.3315 and fixing below it, USD/CAD continues falling slowly; right now, it is moving inside the post-correctional extension area between 138.2% and 161.8% fibo at 1.3164 and 1.3068 respectively. The MACD indicator is forming a convergence to hint at a possible short-term pullback.
The H1 chart shows a more detailed structure of the correctional wave to the upside with the first target at 23.6% fibo (1.3195). after reaching and breaking this level, the instrument may continue growing towards 38.2% and 50.0% fibo at 1.3234 and 1.3265 respectively. The support is the low at 1.3132.