AUD/USD remaining under wraps on China trade data miss

• Early Asia markets saw the AUD take a step down on bad China data.
• With little Aussie representation on the economic calendar this week, China remains the key AUD driver.

AUD/USD continues to trading near 0.7180, remaining firmly underbid and south of the 0.7200 handle after China's Trade Balance figures for Monday sent risk appetite in the Pacific session back a few steps.

Worsening economic conditions in China continue to knock economic figures lower for the broader Chinese economy, dragging the Aussie lower as the two closely-knit economies get sent further down by bad data.

The AUD kicked off the new trading week on a hopeful note, clipping into the 0.7220 region before China's huge Trade Balance miss sent the pair down, and AUD/USD looks set to price in a bearish turnaround for the new week.

AUD/USD Technical Analysis