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Fibonacci Retracements Analysis 03.12.2021 AUDUSD, USDCAD

AUDUSD, Australian Dollar vs US DollarAs we can see in the H4 chart, after breaking the low at 0.7106, AUDUSD is retesting the longterm 38.2 fibo at 0.7052. The resistance is the local high at 0.7556. Convergence on MACD indicates a possible pullback soon.In the H1 chart, the pair may start a new correction after reaching 38.2 fibo at 0.7052 and convergence on MACD. The upside correctional targets may be 23.6, 38.2, and 50.0 fibo at 0.7172, 0.7244, and 0.7304 respectively.USDCAD, US Dollar vs Canadian DollarAs we can see in the H4 chart, after breaking 76.0 fibo, the midterm rising wave in USDCAD continues moving towards the high at 1.2949. Moreover, a breakout of the high will lead to a further uptrend to reach the longterm 38.2 fibo at 1.3022. The support is the low at 1.2288. Divergence on MACD hints at a possible correction soon.The H1 chart shows the potential correctional targets after divergence on MACD 23.6, 38.2, and 50.0 fibo at 1.2707, 1.2627, and 1.2563 respectively. A breakout of the local resistance at 1.2837 will result in a further uptrend.

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