Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian CoreLogic House Prices: Australian CoreLogic House Prices for June increased by 1.8% monthly. Forex traders can compare this to Australian CoreLogic House Prices for May which decreased by 1.1%.
- Australian TD Securities Inflation: Australian TD Securities Inflation for June increased by 0.1% monthly and by 2.3% annualized. Forex traders can compare this to Australian TD Securities Inflation for May which was reported flat at 0.0% monthly and which increased by 2.8% annualized.
- Australian ANZ Job Advertisements: Australian ANZ Job Advertisements for June increased by 2.7% monthly. Forex traders can compare this to Australian ANZ Job Advertisements for May which increased by 0.4% monthly.
- Australian Building Approvals: Australian Building Approvals for May decreased by 5.6% monthly and by 19.7% annualized. Economists predicted a decrease of 1.3% monthly and of 14.1% annualized. Forex traders can compare this to Australian Building Approvals for April which increased by 4.8% monthly and which decreased by 17.2% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US Markit Manufacturing PMI: The Final US Markit Manufacturing PMI for June is predicted at 52.1. Forex traders can compare this to the first US Markit Manufacturing PMI for January which was reported at 52.1.
- US ISM Manufacturing Index: The US ISM Manufacturing Index for June is predicted at 55.0. Forex traders can compare this to the US ISM Manufacturing Index for May which was reported at 54.9. ISM Prices Paid for June is predicted at 58.5. Forex traders can compare this to ISM Prices Paid for May which were reported at 60.5.
- US Construction Spending: US Construction Spending for May is predicted to increase by 0.2% monthly. Forex traders can compare this to US Construction Spending for April which decreased by 1.4% monthly.
Should price action for the AUDUSD remain inside the or breakdown below the 0.7640 to 0.7680 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7660
- Take Profit Zone: 0.7400 – 0.7460
- Stop Loss Level: 0.7800
Should price action for the AUDUSD breakout above 0.7680 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7700
- Take Profit Zone: 0.7800 – 0.7850
- Stop Loss Level: 0.7640
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
