XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after breaking the previous high, the asset continues trading upwards. In the future, the pair may reach and break the long-term 61.8% fibo at 1908.00. At the moment, XAUUSD is testing 50.0% fibo.
The H1 chart shows that after finishing the mid-term correction, the pair is moving to the upside; it has already broken 61.8% fibo and is now approaching the local high at 1877.09. The support is the low at 1752.50.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is consolidating between 50.0% and 76.0% fibo. The current technical picture implies a further uptrend, the key upside target is the high at 0.93745. If the price breaks it, the instrument may continue growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 0.9482 and 0.9548 respectively. The support is at 0.9092.
In the H1 chart, the pair is correcting upwards; it has already tested 61.8% fibo twice and may later continue to reach 76.0% fibo and the local high at 0.9303 and 0.9343 respectively. The local support is the low at 0.9177.
Source: Roboforex
