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 December 9th was reported at 117.7. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of December 2nd which was reported at 119.5.
- Australian NAB Business Conditions and Australian NAB Business Confidence: Australian NAB Business Conditions for November were reported at 13 and Australian NAB Business Confidence at 3. Forex traders can compare this to NAB Business Conditions for October which were reported at 12 and to Australian NAB Business Confidence which was reported at 4.
- Australian House Price Index: The Australian House Price Index for the third-quarter decreased by 1.5% quarterly and by 1.9% annualized. Economists predicted a decrease of 1.6% quarterly and of 2.0% annualized. Forex traders can compare this to the Australian House Price Index for the second-quarter which decreased by 0.7% quarterly and by 0.6% annualized.
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 November is predicted at 107.0. Forex traders can compare this to the NFIB Small Business Optimism Index for October which was reported at 107.4.
- US PPI: The US PPI for November is predicted flat at 0.0% monthly and to increase by 2.5% annualized. Forex traders can compare this to the US PPI for October which increased by 0.6% monthly and by 2.9% annualized. The US Core PPI for November is predicted to increase by 0.1% monthly and by 2.5% annualized. Forex traders can compare this to the US Core PPI for October which increased by 0.5% monthly and by 2.6% annualized. The US Core PPI ex Trade for November is predicted to increase by 0.2% monthly and by 2.5% annualized. Forex traders can compare this to the US Core PPI ex Trade for October which increased by 0.2% monthly and by 2.8% annualized.
Should price action for the AUDUSD remain inside the or breakout above the 0.7180 to 0.7225 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7200
- Take Profit Zone: 0.7335 – 0.7390
- Stop Loss Level: 0.7160
Should price action for the AUDUSD breakdown below 0.7180 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7160
- Take Profit Zone: 0.7020 – 0.7080
- Stop Loss Level: 0.7200
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
