AUD/USD Slides to 0.7000 as US Dollar Rebound Offsets China Data Support

The Australian dollar faced renewed pressure at the start of the trading week, pulling AUD/USD down by roughly 0.30% to trade near 0.7000. The move was driven primarily by a broad recovery in the US dollar, which regained ground across major pairs.

Upbeat Chinese economic data had provided some early support for the risk-sensitive Aussie, but that boost proved short-lived as the greenback strengthened. The pair's decline leaves it testing a key psychological level, with market focus turning to further US economic cues and central bank rhetoric for direction.

Traders now await upcoming US data releases and any shifts in Fed policy expectations that could deepen or reverse the dollar’s recent momentum.