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

• Australian TD Securities Inflation: Australian TD Securities Inflation for April increased by 0.5% monthly and by 2.0% annualized. Forex traders can compare this to Australian TD Securities Inflation for March which increased by 0.1% monthly and by 2.1% annualized.
• Chinese PMI: The Chinese Non-Manufacturing PMI for April was reported at 54.8 and the Chinese Manufacturing PMI at 51.4. Economists predicted a figure of 54.5 and of 51.3 Forex traders can compare this to the Chinese Non-Manufacturing PMI for March which was reported at 54.6 and to the Chinese Manufacturing PMI which was reported at 51.5. The Chinese Composite PMI for April was reported at 54.1. Forex traders can compare this to the Chinese Composite PMI for March which was reported at 54.0.
• Australian Private Sector Credit: Australian Private Sector Credit for March increased by 0.5% monthly and by 5.1% annualized. Economists predicted an increase of 0.4% monthly and of 4.9% annualized. Forex traders can compare this to Australian Private Sector Credit for February which increased by 0.4% monthly and by 4.9% annualized.

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

• US Personal Income and Personal Spending: US Personal Income for March is predicted to increase by 0.4% monthly and Personal Spending is predicted to increase by 0.4% monthly. Forex traders can compare this to Personal Income for February which increased by 0.4% monthly and to Personal Spending which increased by 0.2% monthly. Real Personal Spending for March is predicted to increase by 0.5% monthly. Forex traders can compare this to Real Personal Spending for February which was reported flat at 0.0% monthly. The PCE Deflator for March is predicted flat at 0.0% monthly and to increase by 2.0% annualized. Forex traders can compare this to the PCE Deflator for February which increased by 0.2% monthly and by 1.8% annualized. The PCE Core Deflator for March is predicted to increase by 0.2% monthly and by 1.9% annualized. Forex traders can compare this to the PCE Core Deflator for February which increased by 0.2% monthly and by 1.6% annualized.
• US Chicago PMI: The US Chicago PMI for April is predicted at 58.0. Forex traders can compare this to the US Chicago PMI for March which was reported at 57.4.
• US Pending Home Sales: US Pending Home Sales for March are predicted to increase by 0.8% monthly and by 1.5% annualized. Forex traders can compare this to US Pending Home Sales for February which increased by 3.1% monthly and which decreased by 4.4% annualized.
• US Dallas Fed Manufacturing Index: The US Dallas Fed Manufacturing Index for April is predicted at 25.0. Forex traders can compare this to the US Dallas Fed Manufacturing Index for March which was reported at 21.4.

Should price action for the AUDUSD remain inside the or breakout above the 0.7530 to 0.7580 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.7550
• Take Profit Zone: 0.7990 – 0.8045
• Stop Loss Level: 0.7500

Should price action for the AUDUSD breakdown below 0.7530 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.7500
• Take Profit Zone: 0.7330 – 0.7370
• Stop Loss Level: 0.7550

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