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

• Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for February increased by 4.1%. Forex traders can compare this to Australian Consumer Inflation Expectations for January which increased by 4.3%.
• Australian Employment Report: The Australian Employment Change for January was reported at 13.5K. Economists predicted a figure of 10.0K. Forex traders can compare this to the Australian Employment Change for December which was reported at 16.3K. The Unemployment Rate for January was reported at 5.7%. Economists predicted a reading of 5.8%. Forex traders can compare this to the Unemployment Rate for December which was reported at 5.8%. 44.8K Full-Time Positions were lost in January and 58.3K Part-Time Positions were created. Forex traders can compare this to the creation of 11.3K Full-Time Positions and the creation of 5.1K Part-Time Positions which were reported in December. The Labor Force Participation Rate for January was reported at 64.6%. Economists predicted a reading of 64.7%. Forex traders can compare this to the Labor Force Participation Rate for December which was reported at 64.7%.

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

• US Housing Starts and Building Permits: US Housing Starts for January are predicted to increase by 0.1% monthly to 1,227K starts and Building Permits are predicted to increase by 0.2% monthly to 1,230K permits. Forex traders can compare this to US Housing Starts for December which increased by 11.3% monthly to 1,226K starts and Building Permits which decreased by 0.2% monthly to 1,210K permits.
• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of February 11th are predicted at 245K and US Continuing Claims for the week of February 4th are predicted at 2,058K. Forex traders can compare this to US Initial Jobless Claims for the week of February 4th which were reported at 234K and US Continuing Claims for the week of January 28th which were reported at 2,078K.
• US Philadelphia Fed Index: The US Philadelphia Fed Index for February is predicted at 17.5. Forex traders can compare this to the US Philadelphia Fed Index for January which was reported at 23.6.

Should price action for the AUDUSD remain inside the or breakdown below the 0.7675 to 0.7725 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.7700
• Take Profit Zone: 0.7300 – 0.7350
• Stop Loss Level: 0.7800

Should price action for the AUDUSD breakout above 0.7725 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.7750
• Take Profit Zone: 0.7950 – 0.8000
• Stop Loss Level: 0.7675

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