Here is the key factor to keep in mind today for Australian Dollar trades:
- Australian Credit Card Purchases and Australian Credit Card Balances: Australian Credit Card Purchases for December were reported at A$27.9B and Australian Credit Card Balances at A$52.9B. Forex traders can compare this to Australian Credit Card Purchases for November which were reported at A$27.9B and to Australian Credit Card Balances which were reported at A$52.2B.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss CPI: The Swiss CPI for January decreased by 0.1% monthly and increased by 0.7% annualized. Economists predicted a decrease of 0.2% monthly and an increase of 0.8% annualized. Forex traders can compare this to the Swiss CPI for December which was reported flat at 0.0% monthly and which increased by 0.8% annualized. The Swiss EU Harmonized CPI for January decreased by 0.5% monthly and increased by 0.8% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for December which increased by 0.2% monthly and by 1.1% annualized.
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of February 9th were reported at CHF574.7B and Swiss Domestic Sight Deposits were reported at CHF466.4B. Forex traders can compare this to Swiss Total Sight Deposits for the week of February 2nd which were reported at CHF574.7B and to Swiss Domestic Sight Deposits which were reported at CHF465.4B.
Should price action for the AUDCHF remain inside the or breakout above the 0.7320 to 0.7360 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7340
- Take Profit Zone: 0.7700 – 0.7730
- Stop Loss Level: 0.7265
Should price action for the AUDCHF breakdown below 0.7320 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7290
- Take Profit Zone: 0.7145 – 0.7210
- Stop Loss Level: 0.7320
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
