Here is the key factor to keep in mind today for Australian Dollar trades:
- Australian CPI: The Australian CPI for the second-quarter of 2016 increased by 0.4% quarterly and by 1.0% annualized. Economists predicted an increase of 0.4% quarterly and of 1.1% annualized. Forex traders can compare this to the Australian CPI for the first-quarter of 2016 which increased by 0.4% quarterly and by 1.3% annualized. The RBA Trimmed Mean CPI for the second-quarter of 2016 increased by 0.5% quarterly and by 1.7% annualized. Economists predicted an increase of 0.4% quarterly and of 1.5% annualized. Forex traders can compare this to the RBA Trimmed Mean CPI for the first-quarter of 2016 which increased by 0.2% quarterly and by 1.7% annualized. The RBA Weighted Median CPI for the second-quarter of 2016 increased by 0.4% quarterly and by 1.3% annualized. Economists predicted an increase of 0.4% quarterly and of 1.3% annualized. Forex traders can compare this to the RBA Weighted Median CPI for the first-quarter of 2016 which increased by 0.1% quarterly and by 1.3% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US Durable Goods Orders: US Durable Goods Orders for June are predicted to decrease by 1.1% monthly and Durables Excluding Transportation are predicted to increase by 0.3% monthly. Forex traders can compare this to US Durable Goods Orders for May which decreased by 2.3% monthly and Durables Excluding Transportation which decreased by 0.3% monthly. Capital Goods Orders Non-Defense Excluding Aircraft are predicted to increase by 0.2% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft are predicated to increase by 0.5% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for May which decreased by 0.4% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft which decreased by 0.5% monthly.
- US Pending Home Sales: US Pending Home Sales for June are predicted to increase by 1.2% monthly and by 3.0% annualized. Forex traders can compare this to US Pending Home Sales for May which decreased by 3.7% monthly and which increased by 2.4% annualized.
- US FOMC Interest Rate Decision: The US FOMC Interest Rate Decision is predicted to show interest rates at 0.50%. Forex traders can compare this to the previous US FOMC Interest Rate Decision which showed interest rates at 0.50%.
Should price action for the AUDUSD remain inside the or breakdown below the 0.7475 to 0.7500 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7485
- Take Profit Zone: 0.7100– 0.7150
- Stop Loss Level: 0.7600
Should price action for the AUDUSD breakout above 0.7500 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7550
- Take Profit Zone: 0.7625 – 0.7650
- Stop Loss Level: 0.7475
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
