AUD/USD climbs to highs near 0.7650

The Aussie dollar has gathered further steam during the European morning, lifting AUD/USD to daily highs near 0.7650.

AUD/USD stronger after Oz data

Spot is advancing further today, reverting Wednesday’s pullback and trading at shouting distance from the key resistance area in the mid-0.7600s, where are located previous tops (July 12 and June 24).

Data wise in Oz, Employment Change rose less than expected 7.9K during June, while the jobless rate ticked higher to 5.8%, matching estimates.

The better tone in commodities and the selling bias hitting the greenback remains the main drivers behind the pair’s price action, shrugging off recent lacklustre data in China.

AUD/USD levels to watch

At the moment the pair is advancing 0.46% at 0.7643 and a break above 0.7658 (high Jul.12) would aim for 0.7672 (23.6% Fibo of the Apr-May down move) and finally 0.7836 (2016 high Apr.21). On the other hand, the next support aligns at 0.7498 (20-day sma) followed by 0.7404 (low Jul.6) and then 0.7314 (200-day sma).