17.01.202206:28 Forex Analysis & Reviews: Forecast for AUD/USD on January 17, 2022

The price formed a divergence with the Marlin Oscillator on the daily chart. Other circumstances are keeping the price in the local upward price channel of green color for the time being. If the channel withstands the pressure, then the price level of 0.71 is also worth it, there may be an upward price reversal from it, to the target of 0.7385, that is, to the upper limit of the channel. But first, the price will need to show consolidation above the level of 0.7227, then go above the MACD line of 0.7261. The departure of the price below 0.7171 will push the quote to 0.7065.

Exchange Rates 17.01.2022 analysis

On the four-hour chart, the price has settled under the MACD indicator line, the Marlin Oscillator is in the negative area. The local trend is downward, we are waiting for the main events at the level of 0.7171.

Exchange Rates 17.01.2022 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2022
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