FX.co ★ Forecast for AUD/USD on January 23, 2023

The Australian dollar is leading gains in the currency market. On Friday, it rose by 59 pips and this morning it has already gained 25 pips. A divergence is about to be broken on the daily chart.

Visually, the price will overcome the divergence with growth above 0.7000. There is a 70% probability of success, but there is still a 30% probability of price reversal from the current levels. The growth target is the 0.7090-0.7130 range, a strong reversal and consolidation range from 2021.

On the four-hour chart, the price is above the balance and MACD line, the Marlin oscillator is in the positive area. Cautiously expect growth to the specified target range.