FxWirePro: AUD/USD rangebound below 21-EMA, focus on FOMC minutes and Australia jobs data for direction

AUD/USD chart on Trading View used for analysis

• AUD/USD trades rangebound below 21-EMA at 0.7149, we see further upside only on break above.
   
• Major trend remains bearish, but technical incicators are turning slightly bullish on the daily charts.
   
• RSI and Stochs on daily charts are biased higher and MACD is showing a bullish crossover on signal line.
   
• Upside is currently being capped at 21-EMA, break above targets 55-EMA at 0.7228.
   
• On the flip side, 5-DMA is immediate support at 0.7128, break below will see resumption of weakness.
   
• Markets remain cautious heading into the key FOMC September meeting minutes release and Thursday´s Aussie jobs data.

Support levels - 0.7128 (5-DMA), 0.7085 (Sept 11 low), 0.7040 (Oct 8 low)

Resistance levels - 0.7149 (21-EMA), 0.72, 0.7225 (55-EMA) 

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.