FX.co ★ Forecast for AUD/USD on January 15, 2024

AUD/USD

The pair fell below the support level of 0.6693, stopping at the balance line. Meanwhile, the Marlin oscillator turned up, following the decline observed last week. To see further growth, the pair needs to consolidate above the current resistance level of 0.6693.

AUD/USD could move towards the level of 0.6612, the area in which the MACD line seems to be heading as well. Subsequent movement will depend on the market's reaction to today's holiday in the US and the release of industrial production, GDP, retail sales, and employment data in China on Wednesday.

On the four-hour chart, the pair remains on the balance line and at the level of 0.6693. Although it also fell below the MACD line, the Marlin oscillator turned upwards, which means that the horizontal trend may continue.