Investors turn to the greenback in search of risk aversion ahead of major global markets come into play. Doubts over Chinese stimulus and break of 100-day SMA also weigh on Aussie. Having breached 100-day SMA, AUD/USD drops to the lowest levels in nearly a fortnight as traders preferred the US Dollar (USD) in search of risk safety ahead of global markets appear in full form today. Even if Japan and China were active throughout the recent holiday season, absence of other major market players dimmed the trading sentiment since Friday. Above all, prospects of China cutting down on its monetary policy measures have been negatively affecting the antipodeans off-late. Global barometer of risk sentiment, the US 10-year treasury yield trims more than one basis point as it seesaws around 2.579%. Investors await Wednesday’s headline consumer price index (CPI) and Friday’s gross domestic product (GDP) figures from the US in order to determine near-term trade direction. Aussie inflation numbers might portray soft price pressure whereas the US economic growth is expected to weaken. For the purpose of immediate catalysts, the US new home sales, house price index and Richmond Fed Manufacturing Index will be given higher importance coupled with news developments surrounding the US-China trade talks. AUD/USD Technical Analysis Even if 50-day simple moving average (SMA) level of 0.7110 is likely immediate support for the pair, major attention could be given to the seven-week-old ascending trend-line near 0.7095 as a break of which can fetch the quote 0.7050 and 0.7030 rest-points. Meanwhile, an upside closing beyond 100-day SMA level of 0.7135 can propel prices to 0.7170 and 200-day SMA level of 0.7190. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/IDR: Corrective bounce stalled at 4H 50MA, Indonesia to cut rates later this year FX Street 4 years Investors turn to the greenback in search of risk aversion ahead of major global markets come into play. Doubts over Chinese stimulus and break of 100-day SMA also weigh on Aussie. Having breached 100-day SMA, AUD/USD drops to the lowest levels in nearly a fortnight as traders preferred the US Dollar (USD) in search of risk safety ahead of global markets appear in full form today. Even if Japan and China were active throughout the recent holiday season, absence of other major market players dimmed the trading sentiment since Friday. Above all, prospects of China cutting down on its… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.