AUD/USD clings to Aussie jobs data-led gains, closer to weekly tops

• AUD/USD gains traction on the back of upbeat jobs report.
• A modest USD weakness remained supportive of the move.

The AUD/USD pair held on to the upbeat Aussie jobs data-led strong intraday gains and is currently placed near the top end of its daily trading range, around the 0.6880 region.

The pair built on the previous session's modest rebound from the 0.6840-35 region and caught some aggressive bids on Thursday in reaction to stronger-than-expected Aussie employment details for November.

The Australian Bureau of Statistics reported that the economy added 39.9K jobs during the reported month as against consensus estimates pointing to a rise of 14K and a loss of 19K positions in October.

Meanwhile, the unemployment rate also bettered expectations and unexpectedly ticked lower to 5.2%, which coupled with a modest US dollar weakness, provided an additional boost to the intraday move.

The greenback remained on the defensive after the US House of Representatives on Wednesday voted to impeach the US President Donald Trump for abuse of power and obstruction of Congress.

Moving ahead, market participants now look forward to some second-tier US economic releases in order to grab some short-term trading opportunities later during the early North-American session.

Technical levels to watch