AUD/USD enters new week on the high side, near 0.7845 after Friday's boost

• The Aussie buoyed by strong NFP data on Friday, pair enters a new week on a high note.
• Aussie Labour Day observations offer a quiet Monday session to kick off the new week.

The AUD/USD is heading into the new week on the high side after climbing on the back of positive NFP figures coinciding with suppressed wage growth weighing the dollar down, trading near 0.7850.

The Aussie caught a ride on Friday following a clean beat for US Non-Farm Payrolls which saw 313k new jobs in the regular economy, far above the 200k median forecasts and previous figures of the same number. The bump in employed persons sent equities higher, but a constraint in wage growth kept the US Dollar on the backfoot with inflation fears temporarily sedated as wage growth continues to lag.

It's going to be a quiet week for the AUD, and Monday promises to be a quiet affair with the Aussie states of Victoria and Tasmania dark in observance of Labour Day. The next data for Austalia will be Investment Lending for Homes figures for January, and bulls will be looking for any kind of positive swing after the previous figure came in at a disappointing 2.6%. Investment Lending for Homes drops early Tuesday at 00:30 GMT.

On the US side, Core CPI is expected to show prices holding steady, with forecasts calling for 1.68%, identical to the previous reading.

AUD/USD Technicals

The pair is still trading dangerously close to the 200-day SMA at 0.7790 and Daily candles are running into resistance from the 34 EMA at 0.7845. Intraday resistance is coming from swing highs at 0.7860 and last week's high of 0.7878 with support from swing lows at 0.7775 and 0.7733.