AUD/USD recovery stalls out at 0.7000, a return to the downside on the cards

• The Aussie’s recovery from Thursday’s early sell-off is meeting resistance from the 0.7000 major level.
• A bearish rollover could see AUD/USD remain on the downside to close out the week’s trading.

The AUD/USD pair managed to recover the 0.7000 major handle through Thursday’s trading, lifting from the early session’s plummet to 0.6770, but the Aussie remains bearish overall, struggling to maintain a grip on 0.7000 as technical indicators continue to lean towards the downside, and Thursday’s recovery see hourly stochastics pricing in an overbought rollover.

AUD/USD’s initial bounce from the market plunge saw the pair recover to 0.6900 in the sell-off aftermath, and the US Dollar suffered losses following a disappointing ISM Manufacturing report, allowing the Aussie a brief chance to claim further gains through Thursday’s US session, and the pair is now cycling into the downside of 0.7000 as Pacific sector traders struggle to find reasons to bid up the AUD on its own.

AUD/USD Technical Levels