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 February 10th was reported at 114.1. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of February 3rd which was reported at 118.1.
- Australian Home Loans and Investment Lending: Australian Home Loans for December decreased by 6.1% monthly. Economists predicted a decrease of 2.0% monthly. Forex traders can compare this to Australian Home Loans for November which decreased by 0.9% monthly. Australian Investment Lending for December decreased by 4.4% monthly and the Value of Loans decreased by 5.3% monthly. Forex traders can compare this to Australian Investment Lending for November which decreased by 4.5% monthly and to the Value of Loans which decreased by 1.4% monthly.
- Australian NAB Business Conditions and Australian NAB Business Confidence: Australian NAB Business Conditions for January were reported at 7 and Australian NAB Business Confidence at 4. Forex traders can compare this to NAB Business Conditions for December which were reported at 2 and to Australian NAB Business Confidence which was reported at 3.
Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand ANZ Truckometer Heavy Index: The New Zealand ANZ Truckometer Heavy Index for January increased by 3.5% monthly. Forex traders can compare this to the New Zealand ANZ Truckometer Heavy Index for December which decreased by 4.4% monthly.
- New Zealand Card Spending: New Zealand Retail Card Spending for January increased by 1.8% monthly and New Zealand Card Spending increased by 2.0% monthly. Forex traders can compare this to New Zealand Retail Card Spending for December which decreased by 2.3% monthly and to New Zealand Card Spending which decreased by 1.9% monthly.
Should price action for the AUDNZD remain inside the or breakout above the 1.0480 to 1.0535 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0515
- Take Profit Zone: 1.0670 – 1.0710
- Stop Loss Level: 1.0450
Should price action for the AUDNZD breakdown below 1.0480 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0455
- Take Profit Zone: 1.0360 – 1.0400
- Stop Loss Level: 1.0480
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
