Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian ANZ Roy Morgan Weekly Consumer Confidence Index: The Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of March 11th was reported at 116.0. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of March 4th which was reported at 119.0.
- Australian Home Loans and Investment Lending: Australian Home Loans for January decreased by 1.1% monthly. Economists predicted a decrease of 1.0% monthly. Forex traders can compare this to Australian Home Loans for December which decreased by 2.3% monthly. Australian Investment Lending for January increased by 1.1% monthly and the Value of Loans increased by 0.5% monthly. Forex traders can compare this to Australian Investment Lending for December which decreased by 2.9% monthly and to the Value of Loans which decreased by 1.1% monthly.
- Australian NAB Business Conditions and Australian NAB Business Confidence: Australian NAB Business Conditions for February were reported at 21 and Australian NAB Business Confidence at 9. Forex traders can compare this to NAB Business Conditions for January which were reported at 18 and to Australian NAB Business Confidence which was reported at 11.
Here are the key factors to keep in mind today for US Dollar trades:
- US NFIB Small Business Optimism Index: The US NFIB Small Business Optimism Index for February is predicted at 107.1. Forex traders can compare this to the NFIB Small Business Optimism Index for January which was reported at 106.9.
- US CPI and Core CPI: The US CPI for February is predicted to increase by 0.2% monthly and by 2.2% annualized. Forex traders can compare this to the US CPI for January which increased by 0.5% monthly and by 2.1% annualized. The US Core CPI for February is predicted to increase by 0.2% monthly and by 1.8% annualized. Forex traders can compare this to the US Core CPI for January which increased by 0.3% monthly by 1.8% annualized.
Should price action for the AUDUSD remain inside the or breakout above the 0.7850 to 0.7890 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7875
- Take Profit Zone: 0.8075 – 0.8135
- Stop Loss Level: 0.7775
Should price action for the AUDUSD breakdown below 0.7850 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7820
- Take Profit Zone: 0.7710 – 0.7755
- Stop Loss Level: 0.7850
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
