Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Private Capital Expenditure: Australian Private Capital Expenditure for the fourth-quarter increased by 2.0% quarterly. Economists predicted an increase of 1.0% quarterly. Forex traders can compare this to Australian Private Capital Expenditure for the third-quarter which decreased by 0.5% quarterly.
- Australian Private Sector Credit: Australian Private Sector Credit for January increased by 0.2% monthly and by 4.3% annualized. Economists predicted an increase of 0.3% monthly and of 4.3% annualized. Forex traders can compare this to Australian Private Sector Credit for December which increased by 0.2% monthly and by 4.4% annualized.
- Chinese PMI: The Chinese Non-Manufacturing PMI for February was reported at 54.3 and the Chinese Manufacturing PMI at 49.2. Economists predicted a figure of 54.5 and of 49.5 Forex traders can compare this to the Chinese Non-Manufacturing PMI for January which was reported at 54.7 and to the Chinese Manufacturing PMI which was reported at 49.5. The Chinese Composite PMI for February was reported at 52.4. Forex traders can compare this to the Chinese Composite PMI for January which was reported at 53.2.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss GDP: The Swiss GDP for the fourth-quarter increased by 0.2% quarterly and by 1.4% annualized. Economists predicted an increase of 0.4% quarterly and of 1.7% annualized. Forex traders can compare this to the Swiss GDP for the third-quarter which decreased by 0.3% quarterly and which increased by 2.4% annualized.
- Swiss KOF Leading Indicator: The Swiss KOF Leading Indicator for February is predicted at 96.0. Forex traders can compare this to the Swiss KOF Leading Indicator for January which was reported at 95.0.
Should price action for the AUDCHF remain inside the or breakdown below the 0.7090 to 0.7145 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7115
- Take Profit Zone: 0.6880 – 0.6965
- Stop Loss Level: 0.7205
Should price action for the AUDCHF breakout above 0.7145 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7185
- Take Profit Zone: 0.7335 – 0.7375
- Stop Loss Level: 0.7115
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
