Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian ANZ Roy Morgan Weekly Consumer Confidence Index: The Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of March 4th was reported at 119.0. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of February 25th which was reported at 117.9.
- Australian Current Account Balance: The Australian Current Account Balance for the fourth-quarter was reported at -A$14.0B. Economists predicted a figure of -A$12.2B. Forex traders can compare this to the Australian Current Account Balance for the third-quarter which was reported at -A$11.0B. Australian Net Exports of GDP for the fourth-quarter decreased by 0.5% quarterly. Economists predicted a decrease of 0.6% quarterly. Forex traders can compare this to Australian Net Exports of GDP for the third-quarter which were reported flat at 0.0% quarterly.
- Australian Retail Sales: Australian Retail Sales for January increased by 0.1% monthly. Economists predicted an increase of 0.4% monthly. Forex traders can compare this to Australian Retail Sales for December which decreased by 0.5% monthly.
- Australian RBA Interest Rate Decision: The Australian RBA kept interest rates at 1.50%. Economists predicted interest rates at 1.50%. Forex traders can compare this to the previous Australian RBA Interest Rate Decision where interest rates were left unchanged at 1.50%.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss CPI: The Swiss CPI for February increased by 0.4% monthly and by 0.6% annualized. Economists predicted an increase of 0.3% monthly and of 0.6% annualized. Forex traders can compare this to the Swiss CPI for January which decreased by 0.1% monthly and which increased by 0.7% annualized. The Swiss EU Harmonized CPI for February increased by 0.3% monthly and by 0.5% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for January which decreased by 0.5% monthly and which increased by 0.8% annualized.
Should price action for the AUDCHF remain inside the or breakout above the 0.7280 to 0.7320 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7300
- Take Profit Zone: 0.7695 – 0.7730
- Stop Loss Level: 0.7230
Should price action for the AUDCHF breakdown below 0.7280 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7230
- Take Profit Zone: 0.7030 – 0.7070
- Stop Loss Level: 0.7300
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
