• The AUD/USD rose sharply against US dollar on Tuesday after Reserve Bank of Australia kept interest rates on hold and raised the bar on further monetary easing.
   
• RBA kept the cash rate at a record low of 1.75 percent at its monthly review, after cutting last month for the first time in a year.
   
• The currency pair is trading around 0.7450 levels, it is set to advance further towards 0.7500 later towards 0.7550 levels in the short term.
   
• Short pullback around 0.7352 should be taken as buying opportunities, as Australian dollar is stronger against the US dollar in intraday trading.
   
• Strong support can be seen at 0.7413, a break below this level will expose the pair towards next support level located at 0.7352.
   
• Major resistance can be seen at 0.7474, a break above this level will open the gates towards 0.7554 levels.
  
  Resistance Levels
  
  R1: 0.7459 (Session high)
  
  R2: 0.7474 (38.2 % Retracement Level)
  
  R3: 0.7554 (23.6 % Retracement Level)
  
  Support Levels
  
  S1: 0.7413 (50 % Retracement Level)
  
  S2: 0.7352 (61.8 % Retracement Level)
  
  S3: 0.7300 (Psychological levels)