AUD/USD sticks to modest daily gains, around 0.7800 handle ahead of NFP

  •  Subdued USD price-action helps gains some positive traction.
  •  A goodish pickup in the US bond yields seemed to cap gains. 
  •  US monthly jobs data might provide a fresh directional impetus. 

The AUD/USD pair built on its steady climb from Asian session lows but was now seen struggling to extend the momentum further beyond the 0.7800 handle. 

The has been finding decent support near the 0.7775 region and was now being supported by a subdued US Dollar price action amid easing concerns over a possible global trade-war.

However, a combination of factors was seen capping gains, with the pair struggling to gain any strong follow-through traction beyond the 0.7800 handle. A softer tone around copper prices, coupled with a goodish pickup in the US Treasury bond yields did little to provide any meaningful impetus and kept a lid on further up-move for commodity-linked/higher-yielding currencies - like the Aussie. 

Traders also seemed to refrain from placing aggressive bets and preferred to await the release of key US monthly employment details (NFP), which should help determine the pair's near-term trajectory.

Technical levels to watch

A follow-through buying interest has the potential to continue lifting the pair further towards 0.7830-40 supply zone, above which the bullish momentum could get extended towards reclaiming the 0.7900 handle.

On the flip side, 0.7775 level might continue to lend some support, which if broken decisively might turn the pair vulnerable to head back towards testing 0.7725 intermediate support en-route the 0.7700 round figure mark.