AUD/USD stuck near 0.7200 as Pacific traders wait for a push
- Pacific-Asian markets see little reason to move as weary AUD traders search for reasons to bid the Aussie.
- Data will be thin until the mid-week, but Australian data is unlikely to spark much confidence.
AUD/USD continues to trade closely with the 0.7200 handle after Monday's market action left the pair little-changed, and market sentiment for the Pacific sector continues to hang in the middle as investors grapple with continuously-worsening economic data from the Asian giant, and growing concerns that current fiscal support measures aren't enough to move the needle.
Monday saw China's Trade Balance with the US reach new multi-year highs, with both Imports and Exports slumping through 2018 with tariffs largely to blame for the receding headline numbers, helping to further skew the China-US Trade Balance.
The Aussie's performance continues to be tied closely to Chinese data, and the Aussie-Dollar pairing won't be seeing any fresh data until late Wednesday's/early Thursday's inflation expectations and housing prices index, leaving the Aussie to free-float against major markets for the rest of the early week.
AUD/USD Technical Levels
Today Last Price: 0.7207
Today Daily change: 9.0 pips
Today Daily change %: 0.125%
Today Daily Open: 0.7198
Previous Daily SMA20: 0.7097
Previous Daily SMA50: 0.7188
Previous Daily SMA100: 0.7176
Previous Daily SMA200: 0.7328
Previous Daily High: 0.7218
Previous Daily Low: 0.7175
Previous Weekly High: 0.7236
Previous Weekly Low: 0.7089
Previous Monthly High: 0.7394
Previous Monthly Low: 0.7014
Previous Daily Fibonacci 38.2%: 0.7191
Previous Daily Fibonacci 61.8%: 0.7202
Previous Daily Pivot Point S1: 0.7176
Previous Daily Pivot Point S2: 0.7154
Previous Daily Pivot Point S3: 0.7133
Previous Daily Pivot Point R1: 0.7219
Previous Daily Pivot Point R2: 0.724
Previous Daily Pivot Point R3: 0.7262