  In this work, we deploy archival data from {\it HST}, {\it Chandra}, {\it
XMM-Newton}, and {\it Swift-XRT}, to probe the nature of 9 candidate ULXs in
NGC 1672. Specifically, our study focuses on using the precise source positions
obtained via improved astrometry based on {\it Chandra} and {\it HST}
observations to search for and identify potential optical counterparts for
these ULXs. Unique optical counterparts are identified for two of the ULX
candidates i.e., X2 and X6; for three of the candidates i.e., X1, X5 and X7, we
found two potential counterparts for each source within the respective error
radii. No optical counterparts were found for the remaining four sources. The
spectral energy distribution of X2 is fitted to a blackbody spectrum with a
temperature of $\sim$ 10$^{4}$K and the spectral class of the source is
determined to be B7$-$A3, a supergiant donor star. We used colour magnitude
diagrams (CMDs) to investigate ages of the counterparts. Of all the sources
studied, X9 exhibits the most variability whereby the X-ray flux varies by a
factor of $\sim$ 50 over a time period spanning 2004 to 2019, and also traces a
partial q-curve-like feature in the hardness-intensity diagram, hinting at
possible spectral transitions.
