FxWirePro: AUD/USD comatose above 21-EMA support, focus on Australia employment data for impetus

AUD/USD chart - Trading View 

AUD/USD was trading largely rangebound on the day, holds above 21-EMA support.

The major was trading at 0.6470 at around 03:35 GMT, with session high at 0.6479 and low at 0.6450.

Price action capped between 21 and 110 EMA, breakout will provide a clear directional bias.

Markets cautious ahead of key Aussie unemployment data due for release on Thursday at 01:30 GMT.

Technical indicators do not provide a clear directional bias, bias tilted slightly in favor of bulls.

The pair is extending higher in an Rising Channel pattern. 21-EMA is strong support at 0.6418. Break below could see test of channel base (0.6390).

Breach at channel base support will open downside. Dip till daily cloud at 0.6162 likely. 

Major Support Levels: 

• S1: 0.6418 (21-EMA)
• S2: 0.6390 (Channel base)
• S3: 0.6276 (Lower BB)

Major Resistance Levels: 

• R1: 0.6499 (110-EMA)
• R2: 0.6576 (Upper BB)
• R3: 0.6667 (200-DMA)

Summary: Focus on Thursday's unemployment data for further direction.