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

• Australian CBA Manufacturing PMI: The Australian Manufacturing PMI for December was reported at 57.1. Forex traders can compare this to the Australian CBA Manufacturing PMI for November which was reported at 56.3.
• Australian AiG Performance of Manufacturing Index: The Australian AiG Performance of Manufacturing Index for December was reported at 56.2. Forex traders can compare this to the Australian AiG Performance of Manufacturing Index for November which was reported at 57.3.
• Australian CoreLogic House Prices: Australian CoreLogic House Prices for December decreased by 0.4% monthly. Forex traders can compare this to Australian CoreLogic House Prices for November which decreased by 0.1%.
• Chinese Caixin Manufacturing PMI: The Chinese Caixin Manufacturing PMI for December was reported at 51.5. Economists predicted a figure of 50.7. Forex traders can compare this to the Chinese Caixin Manufacturing PMI for November which was reported at 50.8.
• Australian RBA Commodity Index: The Australian RBA Commodity Index for December decreased by 5.9% annualized. Forex traders can compare this to the Australian RBA Commodity Index for November which decreased by 3.3% annualized.

Here is the key factor to keep in mind today for US Dollar trades:

• US Markit Manufacturing PMI: The Final US Markit Manufacturing PMI for December is predicted at 55.0. Forex traders can compare this to the first US Markit Manufacturing PMI for November which was reported at 55.0.

Should price action for the AUDUSD remain inside the or breakout above the 0.7820 to 0.7860 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.7840
• Take Profit Zone: 0.8100 – 0.8125
• Stop Loss Level: 0.7760

Should price action for the AUDUSD breakdown below 0.7820 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.7790
• Take Profit Zone: 0.7500 – 0.7555
• Stop Loss Level: 0.7860

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