• AUD/USD declined on Monday as US dollar strengthened across the board on growing speculation that U.S Federal Reserve may raise interest rates in June.
   
• Currently the pair is trading at 0.7215, further upside is expected to be limited as the pair finds strong resistance at 0.7260.
   
• The pair is expected to reach 0.7150 and later towards 0.7100 as the Aussie dollar is set to weaken further against its US counterpart in the short term.
   
• To the upside, the strong resistance can be seen at 0.7260, a break above this level would take the pair towards next resistance level at 0.7282.
   
• To the downside immediate support can be seen at 0.7207, a break below this level will open the door towards next level at 0.7175.
  
  Resistance Levels
  
  R1: 0.7244 (50% Retracement level)  
  
  R2: 0.7260 (Daily high)
  
  R3: 0.7282 (61.8% Retracement level)
  
  Support Levels
  
  S1: 0.7207 (38.2% Retracement level)
  
  S2: 0.7175 (May 19th lows)
  
  S3: 0.7158 (23.6% Retracement level)