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AUD/USD threatens 0.7800

FXStreet (Córdoba) - AUD/USD consolidates near highs just below the 0.7800 level after staging a steep rally on the back of impressive Australian jobs figures.

AUD/USD rose more than 120 pips throughout the day and reached a 3-week high of 0.7797 after data showed Australian employment surged by 37,700 in March, versus 15,000 expected, while February gain was upwardly revised from 16,000 to 42,000.

AUD/USD continued to move away a 6-year low struck earlier this month at 0.7532, weighed by commodity prices, concerns about China and divergent monetary outlooks between the RBA and the Fed.

The Aussie lacked momentum to clear the 0.78 mark and it has spent the last hours just below in a range. At time of writing, AUD/USD is trading at 0.7790, recording a 1.5% daily gain.

AUD/USD technical levels

If the AUD manages to break above 0.7800, next resistances are seen at 0.7834 (Mar 27 high) and 0.7883 /Mar 26 high). On the other hand, supports could be faced at 0.7695 (21-day SMA), 0.7672 (daily low) and 0.7658 (10-day SMA).

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