Here are the key factors to keep in mind today for Australian Dollar trades:

• Australian Employment Report: The Australian Employment Change for March was reported at 4.9K. Economists predicted a figure of 20.0K. Forex traders can compare this to the Australian Employment Change for February which was reported at -6.3K. The Unemployment Rate for March was reported at 5.5%. Economists predicted a reading of 5.5%. Forex traders can compare this to the Unemployment Rate for February which was reported at 5.5%. 19.9K Full-Time Positions were lost in March and 24.8K Part-Time Positions were created. Forex traders can compare this to the creation of 20.1K Full-Time Positions and the loss of 26.4K Part-Time Positions which were reported in February. The Labor Force Participation Rate for March was reported at 65.5%. Economists predicted a reading of 65.7%. Forex traders can compare this to the Labor Force Participation Rate for February which was reported at 65.6%.
• Australian NAB Business Confidence: Australian NAB Business Confidence for the first-quarter was reported at 7. Forex traders can compare this to Australian NAB Business Confidence for the fourth-quarter which was reported at 7.

Here are the key factors to keep in mind today for US Dollar trades:

• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of April 14th are predicted at 230K and US Continuing Claims for the week of April 7th are predicted at 1,845K. Forex traders can compare this to US Initial Jobless Claims for the week of April 7th which were reported at 233K and to US Continuing Claims for the week of March 31st which were reported at 1,871K.
• Philadelphia Fed Business Outlook: The Philadelphia Fed Business Outlook for April is predicted at 21.0. Forex traders can compare this to the Philadelphia Fed Business Outlook for March which was reported at 22.3.
• US Leading Indicators: US Leading Indicators for March are predicted to increase by 0.3%. Forex traders can compare this to US Leading Indicators for February which increased by 0.6%.

Should price action for the AUDUSD remain inside the or breakout above the 0.7785 to 0.7815 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.7800
• Take Profit Zone: 0.7965 – 0.7990
• Stop Loss Level: 0.7740

Should price action for the AUDUSD breakdown below 0.7785 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.7760
• Take Profit Zone: 0.7640 – 0.7656
• Stop Loss Level: 0.7815

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.