Strong jobs report assist AUD/USD to reclaim 0.7700 handle

A better-than-expected Australian jobs report helped the AUD/USD pair to maintain it strong bid tone and reclaim 0.7700 handle.

Report released during Asian session on Thursday showed the number of employed people during July grew more-than-expected by 26.2k while unemployment rate dropped 5.7%. 

Stellar employment details assisted the major to build on to its recovery, led by perceived dovish Fed minutes, and record a gain of over 100-pips from yesterday's sharp slide to 0.7600 handle. 

Focus now shifts to today's US economic releases that include - weekly jobless claims, Philly Fed Manufacturing Index and leading indicator, due later during NA trading session. 

Technical levels to watch

A follow through buying interest above 0.7720 region (session high) seems to boost the pair immediately towards recent swing high resistance near 0.7750-55 region, above which the pair seems all set to extend its upward trajectory towards April daily closing high resistance near 0.7800-0.7810 area.

On the flip side, 0.7675 level now seems to protect immediate downside. Failure to build on to its early gains, and a subsequent drop below immediate support, should now turn the pair vulnerable to resume its corrective move and break through session low support near 0.7650 towards retesting 0.7600 handle. A convincing break below 0.7600 level is likely to extend the pair's downslide towards an important confluence support near 0.7525 region.