FX.co ★ Forecast for AUD/USD on January 31, 2022

Last Friday, the price broke the target level of 0.7007, and now it is preparing to move towards the next bearish target at 0.6950. Overcoming this level also opens the 0.6870 target.

On the four-hour chart, the Marlin Oscillator is turning up from the oversold zone in order to relieve tension. It is very likely that the price will still stay at 0.7007 (maybe a little higher) before continuing to decline. In China, the whole week is a day off - the Eastern New Year.