The Australian Dollar to US Dollar (AUD/USD) currency pair is ending the trading week near the 0.6693 area. The pair continues to move within the developing bullish correction and forming a Double Top reversal pattern. Moving averages indicate a bullish trend. Prices have broken upwards through the area between the signal lines, indicating pressure from asset buyers and potential continued growth in the currency pair. Currently, we should expect an attempt at a bullish correction and a test of the resistance area near 0.6735. This should then be followed by a downward rebound and continued decline in AUD/USD with a potential target below 0.6345 in the forex market.
AUD/USD Weekly Forecast January 19 – 23, 2026
An additional signal favoring a decline in the Forex pair will be a rebound from the upper boundary of the Double Top reversal pattern. A second signal will be a rebound from the descending resistance line on the Relative Strength Index (RSI). A strong rally and a breakout of 0.6845 will cancel out the AUD/USD downside scenario for the current trading week, January 19-23, 2026. This will indicate a breakout of the resistance level and continued growth in the Australian Dollar on Forex, with a potential target at 0.7135. A breakout of the support area and a price close below 0.6375 will confirm the continuation of the decline, indicating a breakout of the lower boundary of the bullish channel.
AUD/USD Weekly Forecast January 19 – 23, 2026 suggests an attempt to develop a bullish correction and test the 0.6735 level. Subsequently, the currency pair is expected to continue falling below 0.6345. A test of the trendline on the relative strength indicator (RSI) will support a decline this week. A strong rally and a breakout of the 0.6845 area will cancel out the downside scenario. This will indicate a breakout of the resistance area and a continued rise in the pair with a target above 0.7135.
