AUD/USD is trading above 0.7150, down from the highs but clinging onto the uptrend support line that forms part of the channel. The Aussie is trading within the channel since early April. Uptrend support currently hits the price at around 0.7150. The 50 Simple Moving Average on the four-hour chart also supports the pair around 0.7155. Momentum turned negative and the Relative Strength Index is leaning lower. All in all, bears are mounting an attack but bulls have some defenses to hold onto. Further support is at 0.7140, followed by 0.7115, and 0.7085. Resistance awaits at 0.7175 and 0.7210. There are two contradicting fundamental forces. On one hand, the Australian dollar enjoys an upbeat jobs report. Australia gained 25.7K jobs in March, better than expected. Moreover, the details show that these were overwhelmingly full-time jobs. The unemployment rate stands at 5%. On the other hand, there are growing concerns about global growth. Germany, the locomotive of the euro-zone, is probably suffering a recession in its manufacturing sector, with another disappointing purchasing managers’ index. The European slowdown can spread to other places. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US-Japan trade talks: Top officials Motegi and Lighthizer may meet next week FX Street 4 years AUD/USD is trading above 0.7150, down from the highs but clinging onto the uptrend support line that forms part of the channel. The Aussie is trading within the channel since early April. Uptrend support currently hits the price at around 0.7150. The 50 Simple Moving Average on the four-hour chart also supports the pair around 0.7155. Momentum turned negative and the Relative Strength Index is leaning lower. All in all, bears are mounting an attack but bulls have some defenses to hold onto. Further support is at 0.7140, followed by 0.7115, and 0.7085. Resistance awaits at 0.7175 and 0.7210. There… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.