AUDUSD beginning to fall away from 0.7200

• Aussie markets beginning to step lower as confidence starts to wane in the Asia-Pacific trading window.
• Australian data continues to miss the mark, keeping the AUD under wraps.

AUD/USD is trading softly for early Thursday, testing into 0.7165 as the Aussie-Dollar pairing begins to slip further from the 0.7200 region on waning risk appetite in the Pacific  sector.

Broad-market hopes of improving trade relations between the US and China are beginning to show cracks as developments continue to look few and far between and the clock continues to wind down on a 90-day tariff cease-fire between the two nations. With Australia closely tied to China’s fate, the AUD is struggling in the fx space, waffling against the Greenback and heading for a downturn in the charts from 0.7200.

Mid-tier Aussie data to kick off Thursday’s trading largely missed the mark as well, with Australian Consumer Inflation Expectations ticking from 4.0% to 3.5%, and November Home Loans data showing a -0.9% decrease over the previous period’s 2.2% growth.

AUD/USD Technical Levels