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

• Australian Employment Report: The Australian Employment Change for October was reported at 9.8K. Economists predicted a figure of 16.0K. Forex traders can compare this to the Australian Employment Change for September which was reported at -29.0K. The Unemployment Rate for October was reported at 5.6%. Economists predicted a reading of 5.7%. Forex traders can compare this to the Unemployment Rate for September which was reported at 5.6%. 31.7K Full-Time Positions were lost in October and 41.5K Part-Time Positions were created. Forex traders can compare this to the creation of 45.3K Full-Time Positions and the loss of 74.3K Part-Time Positions which were lost in September. The Labor Force Participation Rate for October was reported at 64.4%. Economists predicted a reading of 64.6%. Forex traders can compare this to the Labor Force Participation Rate for September which was reported at 64.4%.

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

• US Housing Starts and Building Permits: US Housing Starts for October are predicted to increase by 10.8% monthly to 1,160K starts and Building Permits are predicted to decrease by 2.5% monthly to 1,195K permits. Forex traders can compare this to US Housing Starts for September which decreased by 9.0% monthly to 1,047K starts and Building Permits which increased by 6.3% monthly to 1,225K permits.
• US CPI: The US CPI for October is predicted to increase by 0.4% monthly and by 1.6% annualized. Forex traders can compare this to the US CPI for September which increased by 0.3% monthly and by 1.5% annualized. The US Core CPI for October is predicted to increase by 0.2% monthly and by 2.2% annualized. Forex traders can compare this to the US Core PPI for September which increased by 0.1% monthly and by 2.2% annualized.
• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of November 12th are predicted at 256K and US Continuing Claims for the week of November 5th are predicted at 2,030K. Forex traders can compare this to US Initial Jobless Claims for the week of November 5th which were reported at 254K and US Continuing Claims for the week of October 29th which were reported at 2,041K.
• US Philadelphia Fed Index: The US Philadelphia Fed Index for November is predicted at 8.0. Forex traders can compare this to the US Philadelphia Fed Index for October which was reported at 9.7.

Should price action for the AUDUSD remain inside the or breakout above the 0.7450 to 0.7500 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.7475
• Take Profit Zone: 0.7775 – 0.7825
• Stop Loss Level: 0.7350

Should price action for the AUDUSD breakdown below 0.7450 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.7400
• Take Profit Zone: 0.7150 – 0.7200
• Stop Loss Level: 0.7450

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