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

• Australian PPI: The Australian PPI for the first-quarter of 2018 increased by 0.4% quarterly and by 1.9% annualized. Forex traders can compare this to the Australian PPI for the fourth-quarter of 2018 which increased by 0.5% quarterly and by 2.0% annualized.
• Australian Import Price Index & Australian Export Price Index: The Australian Import Price Index for the first-quarter decreased by 0.5% quarterly and the Australian Export Price Index increased by 4.5% quarterly. Economists predicted an increase of 0.4% and of 3.5%. Forex traders can compare this to the Australian Import Price Index for the fourth-quarter which increased by 1.5% quarterly and to the Australian Export Price Index which increased by 4.4% quarterly.

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

• US GDP: The Advanced US GDP for the first-quarter is predicted to increase by 2.2% annualized. Forex traders can compare this to the fourth-quarter GDP which increased by 2.2% annualized. Personal Consumption for the first-quarter is predicted to increase by 1.0% annualized. Forex traders can compare this to fourth-quarter Personal Consumption which increased by 2.5% annualized. The GDP Price Index for the first-quarter is predicted to increase by 1.2% annualized. Forex traders can compare this to the fourth-quarter GDP Price Index which increased by 1.7% annualized. The Core PCE for the first-quarter is predicted to increase by 1.3% annualized. Forex traders can compare this to the fourth-quarter Core PCE which increased by 1.8% annualized.
• US Michigan Consumer Sentiment: Final US Michigan Consumer Sentiment for April is predicted at 97.1. Forex traders can compare this to previous US Michigan Consumer Confidence for April which was reported at 96.9. Final Current Conditions for April are predicted at 114.2 and Final Expectations are predicted at 86.0. Forex traders can compare this to previous Current Conditions for April which were reported at 114.2 and to Expectations which were reported at 85.8.

Should price action for the AUDUSD remain inside the or breakout above the 0.7000 to 0.7065 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.7030
• Take Profit Zone: 0.7245 – 0.7295
• Stop Loss Level: 0.6985

Should price action for the AUDUSD breakdown below 0.7000 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.6955
• Take Profit Zone: 0.6825 – 0.6875
• Stop Loss Level: 0.6985

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