Investing.com - The Australian dollar rose to three-week highs against its U.S. counterpart on Thursday, supported by upbeat employment data from Australia, as well as a strong trade balance report from China.
AUD/USD hit 0.9386 during late Asian trade, the pair's highest since April 17; the pair subsequently consolidated at 0.9382, gaining 0.58%.
The pair was likely to find support at 0.9271, the low of May 6 and resistance at 0.9425, the high of April 14.
Official data showed that the number of employed people in Australia rose by 14,200 in April, beating expectations for a 6,800 increase. March's figure was revised up to a 22,000 rise from a previously estimated 18,100 gain.
The report also showed that Australia's unemployment rate remained unchanged at 5.8% last month, compared to expectations for an uptick to 5.9%.
Elsewhere, data showed that China's imports and exports both rose in April from a year earlier, confounding expectations for a decline.
China is Australia's biggest export partner.
Meanwhile, the greenback remained under pressure after Federal Reserve Chair Janet Yellen said Wednesday that a high degree of monetary accommodation remains warranted given the slack in the economy.
Ms. Yellen also said the Fed expects economic growth to accelerate this year despite the slowdown in the first quarter but warned that the recent housing market slowdown "could prove more protracted than currently expected."
The Aussie was higher against the euro, with EUR/AUD dropping 0.50% to 1.4837.
Later in the day, the U.S. was to publish the weekly report on initial jobless claims.