Investing.com - The Australian dollar rose against its U.S. counterpart on Monday, as investors locked in gains from the greenback's broad rally on Friday due to strong U.S. employment data and as positive Australian data lent support.
AUD/USD hit 0.8708 during late Asian trade, the session high; the pair subsequently consolidated at 0.8719, gaining 0.50%.
The pair was likely to find support at 0.8641, Friday's low and a more than four-year low and resistance at 0.8807, Friday's high.
The greenback strengthened broadly on Friday after the Labor Department reported that the U.S. economy added 248,000 jobs in September, well ahead of forecasts for jobs growth of 215,000. The unemployment rate ticked down from 6.0% to 5.9%, the lowest level since July 2008.
The robust data added to the view that the strengthening economic recovery may prompt the Federal Reserve to raise interest rates sooner than markets are expecting.
In Australia, data on Monday showed that job advertisements rose 0.9% last month, after an increase of 1.6% in August, whose figure was revised from a previously estimated 1.5% gain.
The Aussie was also higher against the euro, with EUR/AUD shedding 0.37% to 1.4372.