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 September were reported at A$25.5B and Australian Credit Card Balances at A$51.4B. Forex traders can compare this to Australian Credit Card Purchases for August which were reported at A$26.9B and to Australian Credit Card Balances which were reported at A$51.3B.
Here are the key factors to keep in mind today for New Zealand Dollar trades:
- Chinese Aggregate Financing: Chinese Aggregate Financing for October was reported at CNY1,040.0B. Economists predicted a figure of CNY1,100.0B. Forex traders can compare this to Chinese Aggregate Financing for September which was reported at CNY1,820.0B.
- Chinese New Yuan Loans: Chinese New Yuan Loans for October was reported at CNY663.2B. Economists predicted a figure of CNY783.0B. Forex traders can compare this to Chinese New Yuan Loans for September which were reported at CNY1,270.0B.
- Chinese Money Supply M0, M1 and M2: Chinese Money Supply M0 for October increased by 6.3% annualized. Economists predicted an increase of 7.0% annualized. Forex traders can compare this to Chinese Money Supply M0 for September which increased by 7.2% annualized. Chinese Money Supply M1 for October increased by 13.0% annualized. Economists predicted an increase of 13.7% annualized. Forex traders can compare this to Chinese Money Supply M1 for September which increased by 14.0% annualized. Chinese Money Supply M2 for October increased by 8.8% annualized. Economists predicted an increase of 9.2% annualized. Forex traders can compare this to Chinese Money Supply M2 for September which increased by 9.2% annualized.
Should price action for the AUDNZD remain inside the or breakout above the 1.1045 to 1.1085 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.1065
- Take Profit Zone: 1.1245 – 1.1285
- Stop Loss Level: 1.1000
Should price action for the AUDNZD breakdown below 1.1045 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0985
- Take Profit Zone: 1.0830 – 1.0885
- Stop Loss Level: 1.1045
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
