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 April 7th was reported at 113.2. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of March 31st which was reported at 114.7.
- Australian Home Loans and Investment Lending: Australian Home Loans for February increased by 0.8% monthly. Economists predicted an increase of 0.5% monthly. Forex traders can compare this to Australian Home Loans for January which decreased by 1.2% monthly. Australian Investment Lending for February increased by 0.9% monthly and the Value of Loans increased by 3.4% monthly. Economists predicted a decrease of 1.0% and an increase of 1.0%. of Forex traders can compare this to Australian Investment Lending for January which decreased by 4.1% monthly and to the Value of Loans which decreased by 1.3% monthly.
Here are the key factors to keep in mind today for US Dollar trades:
- US NFIB Small Business Optimism Index: The US NFIB Small Business Optimism Index for March is predicted at 102.0. Forex traders can compare this to the NFIB Small Business Optimism Index for February which was reported at 101.7.
- US JOLTS Job Openings: US JOLTS Job Openings for February a predicted at 7.566M. Forex traders can compare this to US JOLTS Job Openings for January which were reported at 7.581M.
Should price action for the AUDUSD remain inside the or breakdown below the 0.7125 to 0.7165 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7145
- Take Profit Zone: 0.6970 – 0.7000
- Stop Loss Level: 0.7200
Should price action for the AUDUSD breakout above 0.7165 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7180
- Take Profit Zone: 0.7295– 0.7325
- Stop Loss Level: 0.7125
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
