AUD/USD chart - Trading View
AUD/USD was trading in a narrow range in the Asian session. The pair has started the week's trade on a sluggish note.
Aussie remains unimpressed on upbeat China trade numbers released earlier today.
China's Trade Balance for August, in Yuan terms, printed at CNY416.59 billion versus CNY196.21 billion expected and CNY442.23 billion prior.
Exports stood at +11.6% vs.+2.1% expected and +10.4% last while imports arrived at -0.5% vs. -0.7% expected and +1.6% prior.
Risk reset amid US-China tension, data light calendar and Labor Day holiday in the US likely to keep volumes thin.
Rollover of oscillators from overbought levels and 'Bearish Divergence' keep scope for weakness.
200W-MA is major support at 0.7248. Retrace below will plummet prices further. Dip till 55-EMA and then daily cloud likely.
