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

• Australian HIA New Home Sales: Australian HIA New Home Sales for January decreased by 2.2% monthly. Forex traders can compare this to Australian HIA New Home Sales for December which increased by 0.2% monthly.
• Australian Current Account Balance: The Australian Current Account Balance for the fourth-quarter was reported at -A$3.9B. Economists predicted a figure of -A$4.0B. Forex traders can compare this to the Australian Current Account Balance for the third-quarter which was reported at -A$10.2B.
• Australian Private Sector Credit: Australian Private Sector Credit for January increased by 0.2% monthly and by 5.4% annualized. Economists predicted an increase of 0.5% monthly and of 5.6% annualized. Forex traders can compare this to Australian Private Sector Credit for December which increased by 0.7% monthly and by 5.6% annualized.

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

• US GDP: The US GDP for the fourth-quarter is predicted to increase by 2.1% annualized. Forex traders can compare this to the previous fourth-quarter GDP which increased by 1.9% annualized. Personal Consumption is predicted to increase by 2.5% annualized. Forex traders can compare this to previous fourth-quarter Personal Consumption which increased by 2.5% annualized. The GDP Price Index is predicted to increase by 2.1% annualized. Forex traders can compare this to previous fourth-quarter GDP Price Index which increased by 2.1% annualized. The Core PCE is predicted to increase by 1.3% annualized. Forex traders can compare this to previous fourth-quarter Core PCE which increased by 1.3% annualized.
• US Advanced Goods Trade Balance: The US Advanced Goods Trade Balance for January is predicted at -$66.0B. Forex traders can compare this to the US Advanced Goods Trade Balance for December which was reported at -$65.0B.
• US Wholesale Inventories: US Wholesale Inventories for January are predicted to increase by 0.4% monthly. Forex traders can compare this to US Wholesale Inventories for December which increased by 1.0% monthly.
• US S&P/Case-Shiller Composite 20: The US S&P/Case-Shiller Composite 20 for December is predicted to increase by 0.70% monthly and by 5.40% annualized. Forex traders can compare this to the US S&P/Case-Shiller Composite 20 for November which increased by 0.90% monthly and which increased by 5.30% annualized.
• US Chicago PMI: The US Chicago PMI for February is predicted at 53.0. Forex traders can compare this to the US Chicago PMI for January which was reported at 50.3.
• US Consumer Confidence: US Consumer Confidence for February is predicted at 111.0. Forex traders can compare this to US Consumer Confidence for January which was reported at 111.8.
• US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for February is predicted at 10. Forex traders can compare this to the US Richmond Fed Manufacturing Index for January which was reported at 12.

Should price action for the AUDUSD remain inside the or breakdown below the 0.7650 to 0.7700 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.7675
• Take Profit Zone: 0.7300 – 0.7350
• Stop Loss Level: 0.7800

Should price action for the AUDUSD breakout above 0.7700 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: 0.7650

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