AUD/USD last trades at $0.7152, as it........>

AUSSIE: AUD/USD last trades at $0.7152, as it added ~25 pips overnight, with

price action driven by developments in U.S.-China trade relations. The Aussie

picked up a bid early in the session, as U.S. President Trump said that

Washington will delay imposing the next round of tariffs on China, while March

will see himself meet with Chinese President Xi to "conclude the agreement."

Elsewhere, the Chinese press echoed Trump's reports of "substantial progress"

being made in bilateral talks. However, risk appetite moderated, dragging

AUD/USD off its best levels, as Xinhua released a commentary piece, suggesting

that the "trade talks will be harder at the final stage."

- Bulls look to the 100-DMA at $0.7162, which capped gains in today's

Asia-Pacific session. A break above would allow them to target the upper 1.0%

10-DMA envelope at $0.7198. Conversely, bears keep an eye on the 55-DMA at

$0.7137, followed by the 200-HMA, located a further 10 pips below.

- Australian focus this week turns to the first round of Q4 GDP partials, with

one eye on any U.S.-China trade developments & Australia's own trade

relationship with China, as well as Chinese PMI data, due Thursday & Friday.