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