• Poor China trade data keeps the Aussie pressurized. AUD/USD fell to session lows at 0.7222 and shows room for further depreciation. 
  
  
• Also, the recent sell-off in commodities with oil prices at multi-year lows and a broadly stronger US dollar, keeps the resource-linked Australian dollar on the back foot. 
  
  
• AUD/USD is currently trading at 0.7223. The pair broke below minor trend line support at 0.7256, we see scope for tests of 0.7170 levels in the near term.
  
  
• Immediate resistance is seen by daily Tenkan at 0.7277 and support on the downside is located at 0.7220 (Dec 1st lows).
  
  

Recommendation: Good to sell rallies around 0.7240, SL: 0.7280, TP: 0.7170