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
Today Last Price: 0.6996
Today Daily change: -6.0 pips
Today Daily change %: -0.0857%
Today Daily Open: 0.7002
Previous Daily SMA20: 0.7108
Previous Daily SMA50: 0.7184
Previous Daily SMA100: 0.7187
Previous Daily SMA200: 0.7346
Previous Daily High: 0.702
Previous Daily Low: 0.6684
Previous Weekly High: 0.7078
Previous Weekly Low: 0.7014
Previous Monthly High: 0.7394
Previous Monthly Low: 0.7014
Previous Daily Fibonacci 38.2%: 0.6892
Previous Daily Fibonacci 61.8%: 0.6812
Previous Daily Pivot Point S1: 0.6784
Previous Daily Pivot Point S2: 0.6566
Previous Daily Pivot Point S3: 0.6448
Previous Daily Pivot Point R1: 0.712
Previous Daily Pivot Point R2: 0.7238
Previous Daily Pivot Point R3: 0.7457