AUD/USD stuck in tight range around 0.7155

• Digesting Trump’s comments on China GDP while global growth concerns continue to weigh.
• Bulls await the sentiment on the Tokyo open for the next push higher.

The AUD/USD pair continues to trade around a flat line around the 0.7155 level in early trades, having faltered the recovery from 0.7140 troughs amid a cautious risk environment, as markets digest the latest Chinese GDP numbers and the downward revision to the global growth outlook by the International Monetary Fund (IMF).

The Chinese GDP report showed that the country’s economic growth slowed down to 6.4% in Q4 2018, the weakest since 1990. Meanwhile, the bulls derive support from the latest comments by the US President Trump, as he called for China to reach a “Real” trade deal following the dismal economic growth figures.

Further, markets await fresh trading impetus from the Tokyo open, as the US holiday-led thin trading has had virtually no impact on the spot. In the day ahead, the focus remains on the US-China trade-related headlines and the US existing home sales data for near-term trading opportunities. In the meantime, the pair will continue to take its cues from the risk trends and USD dynamics.

AUD/USD Technical Levels