• The AUD/USD pair held ground on Tuesday as dollar was hurt by weaker than expected U.S. housing data and concerns after political turmoil once more hit Washington.
   
• The weak housing data came after a New York state manufacturing survey on Monday turned negative for the first time since October, and after weaker-than-expected U.S. consumer inflation data for April on Friday.
   
• The Aussie dipped during the Asian and European sessions but performed strongly in the US session after the release US housing data.
   
• Currently, the currency pair is trading around 0.7428 levels, it is set to advance further towards 0.7450 later towards 0.7480 levels in the short term.
   
• To the upside, the strong resistance can be seen at 0.7438, a break above this level would take the pair towards next resistance level at 0.7495.
   
• To the downside immediate support can be seen at 0.7388, a break below this level will open the door towards next level at 0.7339.
  
  
  Resistance Levels
  
  R1: 0.7438 (38.2% Retracement level)  
  
  R2: 0.7495 (23.6% Retracement level)
  
  R3: 0.7545 (May 3rd high)
  
  Support Levels
  
  S1: 0.7388 (50% Retracement level)
  
  S2: 0.7339 (61.8% Retracement level)
  
  S3: 0.7300 (Psychological levels)