AUD/USD holds stable near 0.7130 area, moves little after Chinese trade balance data

   •  Some renewed USD selling bias helped regain some positive traction on Friday.
   •  An unexpected jump in China’s trade surplus remained supportive of the uptick.
   •  Upbeat Chinese exports offset by weaker imports and did little to influence the pair.
 
The AUD/USD pair held on to its mildly positive tone around the 0.7130 region and had a rather muted reaction to mixed Chinese trade balance data.

After yesterday's sharp intraday pullback from six-week tops, the pair managed to gain some positive traction during the Asian session on Thursday and was being supported by some fresh US Dollar selling bias.

The greenback struggled to preserve/build on the overnight goodish bounce from near two-week lows and remained depressed amid firming market expectations that the Fed will hold interest rates steady through 2019.

The pair, however, failed to attract any strong follow-through buying and moved little following the release of Chinese trade balance figures for March, showing an unexpected jump in surplus to $32.64 billion ($7.05 billion expected).

The rise in surplus was primarily on the back of a solid rebound in exports but, to a larger extent, was negated by a slump in imports and hence, did little to provide any meaningful impetus to the China-proxy Australian Dollar.

Technical levels to watch