Here is the key factor to keep in mind today for Australian Dollar trades:
- Australian Home Loans and Investment Lending: Australian Home Loans for March decreased by 2.8% monthly. Economists predicted a decrease of 0.5% monthly. Forex traders can compare this to Australian Home Loans for February which increased by 0.5% monthly. Australian Investment Lending for March decreased by 2.7% monthly and the Value of Loans decreased by 3.4% monthly. Economists predicted a decrease of 1.5% and of 0.5%. of Forex traders can compare this to Australian Investment Lending for February which decreased by 0.2% monthly and to the Value of Loans which increased by 2.8% monthly.
Here is the key factor to keep in mind today for New Zealand Dollar trades:
- New Zealand Food Prices: New Zealand Food Prices for April decreased by 0.1% monthly. Forex traders can compare this to New Zealand Food Prices for March which increased by 0.5% monthly.
Should price action for the AUDNZD remain inside the or breakout above the 1.0575 to 1.0625 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0600
- Take Profit Zone: 1.0900 – 1.1020
- Stop Loss Level: 1.0530
Should price action for the AUDNZD breakdown below 1.0575 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0560
- Take Profit Zone: 1.0370 – 1.0420
- Stop Loss Level: 1.0600
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
