AUD/USD catching some bids ahead of European markets, trying for 0.7840

• Aussie up on soft markets, bearish pressure remains.
• Australian employment data coming on Thursday.

AUD/USD has been stepping steadily upwards in thin Asia markets, currently trading into the 0.7830 region ahead of the European market open.

The Aussie has suffered recently, still down following a six-day stretch of straight losses against the US Dollar, the pair closing in the red for two straight weeks. The Reserve Bank of Australia (RBA) has not helped the Aussie's case lately, with mixed economic data from the country and sluggish growth figures forcing the central bank to hold off on plans to increase their interest rates, shaking bulls out of the Aussie.

Thursday will see the release of Australia's Employment Change and Unemployment Rate numbers at 01:30 GMT, followed by a speech from the RBA's Governor Philip Lowe at 22:30; Lowe will be testifying before the House of Representatives' Standing Committee on Economics in Sydney, and his words with the governing body may give traders clues about the RBA's plans moving forward.

AUD/USD Technicals

Friday's swing low represents a new support for intraday trading at 0.7767, while the current challenge will be for the pair to close confidently over resistance at 0.7835 and hold that position long enough for a bottom to form on longer timeframes; Daily candles are a mixed bag following so many days of declines, but AUD/USD is still trading above the 200-day SMA, which is lining up with the 61.8 Fibo level at 0.7740.