AUD/USD: stubborn bulls defending 0.76 handle

AUD/USD is currently sticking to the 0.76 handle in early Asia at the start of the week in the aftermath of the surprise nonfarm payrolls.

Market wrap: nonfarm payrolls surprised us all - Westpac

The Australian dollar remains robust even in the event now that the RBA have cut interest rates to their lowest level in history and even as the US jobs data is paring back the disappointments of the first quarter of 2016 with some robust upside surprises in nonfarm payrolls for a second month in a row. However, maybe makets understand that, the US market's problems are still there - Socgen

AUD/USD recovered from the RBA interest rate cut from 0.7480 territory and climbed back to 0.7664 the recent high before last week's surprise numbers in the US economy's job sector sent the Aussie lower in a rally in the greenback, down to 0.7600. the next catalyst could be Chinese trade data today.

AUD/USD levels

AUD/USD has a tough resistance at 0.7688 as well as the 3 rd May high at 0.7717 which could be guarding  0.7836/50 being the recent high and the 38.2% retracement. to the downside, 0.7566 is where the 200 sma in the 1hr chart is located as a key support area. 0.7482 is next support thereafter.