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

• Australian CBA Manufacturing PMI, CBA Services PMI and CBA Composite PMI: Preliminary Australian Manufacturing PMI for February was reported at 53.1. Forex traders can compare this to the Australian CBA Manufacturing PMI for January which was reported at 53.9.The Preliminary Australian CBA Services PMI for February was reported at 49.3. Forex traders can compare this to the Australian CBA Services PMI for January which was reported at 51.0. The Preliminary Australian CBA Composite PMI for February was reported at 49.7. Forex traders can compare this to the Australian CBA Composite PMI for for January which was reported at 51.3.
• Australian Employment Report: The Australian Employment Change for January was reported at 31.9K. Economists predicted a figure of 15.0K. Forex traders can compare this to the Australian Employment Change for December which was reported at 16.9K. The Unemployment Rate for January was reported at 5.0%. Economists predicted a reading of 5.0%. Forex traders can compare this to the Unemployment Rate for December which was reported at 5.0%. 65.4K Full-Time Positions were created and 26.3K Part-Time Positions were lost in January. Forex traders can compare this to the loss of 9.5K Full-Time Positions and to the creation of 24.4K Part-Time Positions which were reported in December. The Labor Force Participation Rate for January was reported at 65.7%. Economists predicted a reading of 65.6%. Forex traders can compare this to the Labor Force Participation Rate for December which was reported at 65.6%.

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

• US Philadelphia Fed Business Outlook: The Philadelphia Fed Business Outlook for February is predicted at 14.8. Forex traders can compare this to the Philadelphia Fed Business Outlook for January which was reported at 17.0.
• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of February 16th are predicted at 230K and US Continuing Claims for the week of February 9th are predicted at 1,740K. Forex traders can compare this to US Initial Jobless Claims for the week of February 9th which were reported at 239K and to US Continuing Claims for the week of February 2nd which were reported at 1,773K.
• US Preliminary Durable Goods Orders: US Preliminary Durable Goods Orders for December are predicted to increase by 1.8% monthly and Durables Excluding Transportation are predicted to increase by 0.3% monthly. Forex traders can compare this to US Durable Goods Orders for November which increased by 0.7% monthly and to Durables Excluding Transportation which decreased by 0.3% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for December are predicted to increase by 0.2% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft are predicted flat at 0.0% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for November which decreased by 0.6% monthly and to Capital Goods Shipments Non-Defense Excluding Aircraft which decreased by 0.2% monthly.
• US Markit Manufacturing PMI, Services PMI and Composite PMI: The Preliminary US Markit Manufacturing PMI for February is predicted at 55.0. Forex traders can compare this to the US Markit Manufacturing PMI for January which was reported at 54.9. The Preliminary US Markit Services PMI for February is predicted at 54.3. Forex traders can compare this to the US Markit Services PMI for January which was reported at 54.2. The Preliminary US Markit Composite PMI for February is predicted at 54.5. Forex traders can compare this to the US Markit Composite PMI for January which was reported at 54.4.
• US Leading Indicators: US Leading Indicators for January are predicted to increase by 0.2% monthly. Forex traders can compare this to US Leading Indicators for December which decreased by 0.1% monthly.
• US Existing Home Sales: US Existing Home Sales for January are predicted to increase by 0.2% monthly to 5.00M. Forex traders can compare this to US Existing Home Sales for December which decreased by 6.4% monthly to 4.99M.

Should price action for the AUDUSD remain inside the or breakout above the 0.7085 to 0.7160 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.7100
• Take Profit Zone: 0.7390 – 0.7465
• Stop Loss Level: 0.7055

Should price action for the AUDUSD breakdown below 0.7085 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.7070
• Take Profit Zone: 0.6825 – 0.6900
• Stop Loss Level: 0.7100

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