• AUD/USD declined sharply on Thursday as Australian dollar was weighed down by decline in commodities prices and the increasing concerns over a global economic slowdown.
   
• With a no economic data release scheduled in the country for this last part of the week, the pair set to continue its bearish trend in the short term. 
   
• To the upside, the strong resistance can be seen at 0.7570, a break above this level would take the pair towards next resistance level at 0.7638.
   
• To the downside immediate support can be seen at 0.7480, a break below this level will open the door towards next level at 0.7423.
  
  Resistance Levels
  
  R1: 0.7527 (50% Retracement level)  
  
  R2: 0.7570 (61.8% Retracement level)
  
  R3: 0.7638 (April 7th high)
  
  Support Levels
  
  S1: 0.7480 (38.2% Retracement level)
  
  S2: 0.7423 (23.6% Retracement level)
  
  S3: 0.7387 (March 7th lows)