AUD/USD sets up above 0.7200 as China rate cut helps boost sentiment

• The Aussie's week has already come full-circle, settling where it started as market sentiment continues to whipsaw.
• The Pacific window continues to trade primarily on China slowdown and trade concerns.

AUD/USD is trading tightly near the 0.7200 major handle as the pair's bullish run for early Tuesday runs out of gas, leaving the pair to trade near where it started the week as investor sentiment recovers from Monday's declines.

China's trade numbers disaster on Monday saw the Aussie slumping to lows this week below 0.7175, but Tuesday's markets have rebounded on news that China underwent a further RRR rate cut in an effort to boost liquidity, and the continued access to easy cash is seeing money markets in the Pacific-Asia sector take a step higher, walking back this week's early declines, but further upside remains a limited affair.

AUD/USD Technical Levels