• AUD/USD pair declined to hit low at 0.7460 on Wednesday as the pair failed to break resistance level located at 0.7515 in the early Asian session. However, the pair has managed to rebound after testing support level located at 0.7458.
   
• The pair is currently trading at 0.7485 level is expected decline further towards 0.7450 and 0.7400 as the resistance level located at 0.7551 is set to act as strong barrier to bulls and initiate further bearish momentum towards lower side in the short term.
   
• To the upside, the strong resistance can be seen at 0.7499, a break above this level would take the pair towards next resistance level at 0.7551.
• To the downside immediate support can be seen at 0.7458, a break below this level will open the door towards next level at 0.7380.
  
  Resistance Levels
  
  R1: 0.7499 (50% Retracement level)                        
  
  R2: 0.7551 (61.8% Retracement level)
  
  R3: 0.7595 (March14th high)
  
  Support Levels
  
  S1: 0.7458 (Daily lows)
  
  S2: 0.7380 (23.6% Retracement level)
  
  S3: 0.7300 (Psychological levels)