FX.co ★ Forecast for AUD/USD on January 20, 2022

The Australian dollar confirmed the reversal from the lower limit of the mini-price channel marked in green on the daily chart, showing good growth yesterday and in today's Asian session. The price has already touched the MACD indicator line in the morning, now it should overcome this line and then the road will open to the target level of 0.7385, coinciding with the upper limit of the mini-channel price.

The divergence of the price with the Marlin Oscillator is gradually being transformed into another graphical figure – a double low.

The following happened yesterday on the four-hour scale: the price went above the MACD indicator line, returned to it from above, as support, and turned from it into a new wave of growth. And now this growth is confirmed by the Marlin Oscillator, which has moved to the positive area. We consider the price movement to 0.7385 as the main scenario.