FX.co ★ Forecast for AUD/USD on January 25, 2024

AUD/USD:

Yesterday, the Australian dollar repeated the actions of the last two days, with the upper shadow of the daily candle reaching the resistance level of the target at 0.6617 and the MACD line. This morning, the price is at Monday's closing level.

Visually, the price is consolidating ahead of the level of 0.6617, intending to surpass it. The Marlin oscillator shows that its interest in growth is getting weaker. The price could fall to the support level at 0.6504, and if it consolidates below that level, it may aim for 0.6410.

On the 4-hour chart, the price has reversed from the support of the MACD line. The Marlin oscillator is turning up from the zero line. This could be an encouraging sign on the indicator's side and on the daily timeframe. However, the market does not have much time - today's European Central Bank meeting could provide a fresh impetus. We await the outcome of the meeting.