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

• Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for January increased by 3.5% annualized. Forex traders can compare this to Australian Consumer Inflation Expectations for December which increased by 4.0% annualized.
• Australian Home Loans and Investment Lending: Australian Home Loans for November decreased by 0.9% monthly. Economists predicted a decrease of 1.5% monthly. Forex traders can compare this to Australian Home Loans for October which increased by 2.2% monthly. Australian Investment Lending for November decreased by 4.5% monthly and the Value of Loans decreased by 1.4% monthly. Forex traders can compare this to Australian Investment Lending for October which increased by 0.6% monthly and to the Value of Loans which increased by 3.5% monthly.

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

• US Housing Starts and Building Permits: US Housing Starts for December are predicted to decrease by 0.2% monthly to 1,253K starts and Building Permits are predicted to decrease by 2.9% monthly to 1,290K permits. Forex traders can compare this to US Housing Starts for November which increased by 3.2% monthly to 1,256K starts and to Building Permits which increased by 5.0% monthly to 1,328K permits.
• US Philadelphia Fed Business Outlook: The Philadelphia Fed Business Outlook for January is predicted at 10.0. Forex traders can compare this to the Philadelphia Fed Business Outlook for December which was reported at 9.4.
• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of January 12th are predicted at 220K and US Continuing Claims for the week of January 5th are predicted at 1,735K. Forex traders can compare this to US Initial Jobless Claims for the week of January 5th which were reported at 216K and to US Continuing Claims for the week of December 29th which were reported at 1,722K.

Should price action for the AUDUSD remain inside the or breakout above the 0.7115 to 0.7210 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.7155
• Take Profit Zone: 0.7390 – 0.7485
• Stop Loss Level: 0.7070

Should price action for the AUDUSD breakdown below 0.7115 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.7095
• Take Profit Zone: 0.6980 – 0.7000
• Stop Loss Level: 0.7155

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