AUD/USD remaining under wraps on China trade data miss

  • Early Asia markets saw the AUD take a step down on bad China data.
  • With little Aussie representation on the economic calendar this week, China remains the key AUD driver.

AUD/USD continues to trading near 0.7180, remaining firmly underbid and south of the 0.7200 handle after China's Trade Balance figures for Monday sent risk appetite in the Pacific session back a few steps.

Worsening economic conditions in China continue to knock economic figures lower for the broader Chinese economy, dragging the Aussie lower as the two closely-knit economies get sent further down by bad data.

The AUD kicked off the new trading week on a hopeful note, clipping into the 0.7220 region before China's huge Trade Balance miss sent the pair down, and AUD/USD looks set to price in a bearish turnaround for the new week.

AUD/USD Technical Analysis

AUD/USD

Overview:
    Today Last Price: 0.7179
    Today Daily change: -25 pips
    Today Daily change %: -0.347%
    Today Daily Open: 0.7204
Trends:
    Previous Daily SMA20: 0.7096
    Previous Daily SMA50: 0.7188
    Previous Daily SMA100: 0.7177
    Previous Daily SMA200: 0.7331
Levels:
    Previous Daily High: 0.7236
    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%: 0.7213
    Previous Daily Fibonacci 61.8%: 0.7198
    Previous Daily Pivot Point S1: 0.7174
    Previous Daily Pivot Point S2: 0.7144
    Previous Daily Pivot Point S3: 0.7113
    Previous Daily Pivot Point R1: 0.7235
    Previous Daily Pivot Point R2: 0.7266
    Previous Daily Pivot Point R3: 0.7296

 

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