• The AUD/USD inched higher on Thursday, as commodities related currencies strengthened across the board after oil prices rose towards $50 per barrel.
   
• The pair hit high at 0.7245 in the early US session before retreating slightly towards 0.7216 levels.
   
• The currency pair is trading at 0.7230 levels, it is set to advance future towards 0.7270 and 0.7320 levels in the short term.
   
• To the upside, the strong resistance can be seen at 0.7275, a break above this level would take the pair towards next resistance level at 0.7300.
   
• To the downside immediate support can be seen at 0.7216, a break below this level will open the door towards next level at 0.7169.
  
  Resistance Levels
  
  R1: 0.7241 (Daily highs)
  
  R2: 0.7275 (23.6% Retracement level)
  
  R3: 0.7300 (Psychological levels)
  
  Support Levels
  
  S1: 0.7216 (38.2% Retracement level)
  
  S2: 0.7169 (50% Retracement level)
  
  S3: 0.7125 (61.8% Retracement level)