AUD/USD remains close to 0.7200, but leaning bearish for Tuesday

• The Aussie remains overly cautious, headed for the downside as economic worries plague AUD investors.
• Mid-tier economic indicators due in the early Tuesday window for the Aussie highlight continued lag in the domestic economy.

AUD/USD remains tied up at the 0.7185   level, seeing little bullish momentum in the new trading week, and the pair remains off-balance amidst disappointing economic data, and a US Dollar that remains fairly-well bid in broader markets amidst trading tensions with China that are back on the rise.

Aussie data in the early Tuesday session broadly missed expectations, with the Aussie Housing Price Index further declining further from  -0.7% to -1.5% on an annualized basis, with Business Confidence and Conditions declining slipping to 3 and 11 from 5 and 13, respectively. ANZ’s Monthly inflation gauge for October also disappointed. ticking towards the downside from 2.9% to 2.8%.

US-China trade war tensions are back on the docket again as well, and investors will be keeping one foot in the door to safety as China’s domestic slowdown appears to be getting worse, and the Aussie finds itself exposed to knock-on downside amidst a broader, global trade contraction.

AUD/USD Technical Levels