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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

AUD/USD

Overview:
    Today Last Price: 0.7207
    Today Daily change: 9.0 pips
    Today Daily change %: 0.125%
    Today Daily Open: 0.7198
Trends:
    Previous Daily SMA20: 0.7097
    Previous Daily SMA50: 0.7188
    Previous Daily SMA100: 0.7176
    Previous Daily SMA200: 0.7328
Levels:
    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

 

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